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Latin America Investment News on Viva Tropical

Nicaragua to Invest U.S. $ 140M in Tourism

Article Summary:

The Nicaraguan government plans to invest in tourism about $140 million in 2012, a 15.7% increase investment in tourism over the previous year.

Photo Credit: Estrategia y Negocios

Original Article Text From Estrategia y Negocios via Google Translate :

Nicaragua Plans to Invest U.S. $ 140M in Tourism
The Nicaraguan government plans to invest in tourism, both domestic and foreign, for about $ 140 million in 2012, 15.7% more than last year, officials said.

The head of legal department of the Nicaraguan Institute of Tourism (Intur) Oporta Omar told reporters that the tourism investment by nationals and foreigners, amounted to U.S. $ 121 million in 2011.

However, Nicaragua forecast to grow 15.7% in tourism investments this year due to, among other things, to promote a bill that seeks to benefit and encourage micro and small entrepreneurs to invest, said Oporta.

The board of incentives Intur approved $ 121 million for development projects in the tourism industry in 2011, of which U.S. $ 45.5 million was directed to the hotel sector, particularly in Managua, the southern province of Rivas, the official said.

90% of the projects approved were for domestic investors and 10% foreigners, said Oporta.
Tourism projects last year generated 3,800 jobs and 446 permanent temporary, according to official figures.

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From Estrageia y Negocios

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