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The tourism industry in Nicaragua is expected to generate US$440 million in 2014

March 10, 2014 Destination Global No Comments Email Email

 Nicaragua’s Tourism industry is gaining worldwide recognition due to the development of infrastructure projects and the law of incentives for the industry, along with the country’s natural beauty, high security levels, hospitality and high quality life.

In 2014, the tourism industry is expected to grow by 6.5 percent over last year, which will generate US$440 million to the country.

In 2014, the Nicaraguan Tourism Board (INTUR, for its acronym in Spanish) has approved US$46 million so far for the development of tourism projects, and is projecting a total of US$100 million to be approved by the end of the year. These projects will generate around 1,580 jobs during the construction phase and more than 581 permanent jobs when fully established.

The Executive President of INTUR, Mayra Salinas, also highlighted the competitive advantages that Nicaragua offers investors due to the Law of Incentives for the Tourism Industry, which was approved in 1999. Between 2008 and 2013, 169 projects were approved under this legislative initiative, granting investors tax credits and exemptions.

The tourism industry is also benefiting from the country’s “high levels of security and climate of peace,” according to the President of the Tourism Committee in the National Assembly, Pedro Joaquín Chamorro. For instance, the Economist Intelligence Unit (EIU) confirms Nicaragua’s high security levels in its 2013 Security Risk Report, ranking the country, along with Panama, as the second safest in Central America and the fourth in Latin America. Also, in 2013 Nicaragua improved 13 positions in the Global Peace Index published by the Institute for Economics and Peace, which takes into account human rights, democracy, health, military spending, and the relationship with neighboring countries.

2013 was a year of growth for Nicaragua’s tourism as well. Officials of the General Immigration Department (DGME, for its acronym in Spanish) informed that tourism in the country increased 1.26 percent over the previous year. Of the people who visited Nicaragua last year, 2.3 million were foreigners while the remaining 2 million were Nicaraguan migrants.

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