San José, Costa Rica, since 1956

Tourism Investment in ’09 Already Surpasses ‘08 Totals

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 percent 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 40 percent is North America, 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.

–Nica Times


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