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Latin America Investment News on Viva Tropical

Salvadoran Business Group Invests $15 Million in New Honduran Hotel Construction

Article Summary:

A Salvadoran group will invest $15 million in the construction of two new hotels in the Honduran capital of Tegucigalpa.

Photo Credit: Tegucigalpa Hotels

Original Article Text From El Salvador via Google Translate :

Invest $ 15 Mill Salvadorans in Hotel

A Salvadoran group will invest 15 million dollars in the construction of one of two new hotels in Honduras, as published on Friday ElHeraldo.com.

The investment was announced by the president of the National Chamber of Tourism (CANATURH) Epaminodas Marinakys.

“The first (draft) and is by starting in October and November and will be a Holiday Inn, which is near the Boulevard Suyapa,” said the representative of the tourism sector.

The paper does not mention who the Salvadoran investors, but the franchise of this hotel is managed by the Group Agrisal in El Salvador.

Concerning the second hotel, the businessman said the coming week, the country a group of investors from Guatemala to make a presentation to the government on the project of a Hyatt to be built in the area of ​​the heroes. This investment will be about $ 16 million.

The constructions extend the hotels of the capital city. “With more rooms, the city can be converted into a center for events, conferences and conventions,” he said.

More promotion
Projects open employment opportunities for hundreds of Hondurans, first by building them and the creation of permanent jobs in these places. Additionally contribute to the tourist traffic that leaves important foreign exchange. This year, according to estimates by the CANATURH, tourism will leave about 700 million dollars.

Although revenues generated by this sector, the government funds intended to promote tourism are low. The businessman said that “the international standard of the promotion that each country should have about 2% of the foreign exchange it generates.” The government of Honduras should allocate $ 14 million, though “right now we have only 2.5 million, said the businessman.

The total approved budget for 2012 to the Honduran Institute of Tourism is 235.6 million lempiras. Marinakys said the budget for the promotion of domestic tourism is the most rickety of Latin America, for that matter, El Salvador spent 12 million dollars, while Guatemala and Nicaragua 20 million 7 million.

“Lack of attention to bring to the public sector tourism, a sector that generates wealth through work and currencies,” he stressed.

This is another case of Salvadorans have preferred investors take their capital to other countries in the region due to the unstable investment climate in El Salvador.

A survey that the Salvadoran Foundation for Economic and Social Development (Fusades) made entrepreneurs in the country earlier this year indicated that they do not intend to invest due to lack of institutional and political tensions that give predictability.

Link to Original Article:

From El Salvador

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