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Tourism Nicaragua Approves Incentives for US$96 million

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TODAY NICARAGUA – Between January and November 30th tax breaks for private investment projects were approved as well as 9 public ones, estimated at US$95.7 million, up 125% compared to the same period in 2013.

Added to the approval for incentives for investments worth $US95.7 million are more supplies for tourism, including 12 hotels, adding 283 new rooms. It is expected that by the end of 2014 incentives for investment in tourism will reach $100 million.

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Elnuevodiario.com.ni reports that “… This year saw the opening in the country of the Holiday Inn Express hotel which cost more than $12 million, and currently under construction is Hyatt Place which could cost US$16 million, and other renovations in hotel infrastructure are also enjoying the benefits of Incentives Act . ”

“… Other private project investment plans include Parque de Aventura Las Nubes in Rivas, La Costeña, Oro Travel,providing transport services, and Molina Tour, among others. Moreover, included in the public projects which the Nicaraguan Tourism Institute decided to support is the restoration of the third stage of Basílica Catedral de La Asunción, in Leon and other sites of cultural interest such as Parque Los Monos, in Matagalpa. ”

Source: elnuevodiario.com.ni

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