Nicaragua Tourism Investment in 2009 Already Surpasses 2008 Totals
Mar 9th, 2009 by Kevin
Got an email from our partners down in Nicaragua. This information is from the Nica Times - Feb 27, 2009. I tried finding an online version of this article but it appears that it might have been only in the paper version. I also believe this is a direct quote from the article.
The board of tourism incentives, headed by the Nicaraguan Tourism Institute (INTUR) with the participation of the private tourism chambers, has already approved $33.3 million in tourism investment this year under the Tourism Investment Law. That number represents a 50% increase over all the tourism investment projects approved in 2008, according to INTUR.
Two of the larger projects that were approved are the $17 million ¨Pacific Turtle¨ resort, which will have 110 rooms near San Juan del Sur. In nearby Tola, another project was approved to build the $4.8 million ¨Agua Resort Spa¨.
In Managua, meanwhile, the board approved a project to build a new historic museum to honor the life of Nicaraguan National Hero Gen. Augusto C. Sandino.
According to INTUR, the new projects will generate 200 permanent jobs and 300 temporary jobs. Sixty percent of the investment is Nicaraguan capital, and the other forty percent is North American, according to INTUR.
Sandinista lawmaker Nassar Silwany, of the Tourism Commission, said that the amount of investment in the tourism sector reflects investor confidence in the ¨Government of Unity and National Reconciliation¨and demonstrates that the world financial crisis won’t affect investment in this sector of the Nicaraguan economy.
Tourism is quickly becoming the primary revenue source for Nicaragua, so this will be money well spent by the Nicaragua Government.
That is good that Nicaragua is prospering due to the tourists that arrive. Im glad to see new projects springing up, and I know soon, Nicaragua will be a 1st world country.