Nicaragua’s Tourism Sector Continues to Grow

WASHINGTON, DC, May 23, 2010 /24-7PressRelease/ — Preliminary statistics recently published by the Nicaraguan Tourism Board (INTUR, for its acronym in Spanish) indicate that Nicaragua continued to grow in both tourist arrivals and tourism revenues during the first four months of 2010. Statistics indicate that arrivals grew in 8.9 percent, reaching 338,248 visitors, while revenues increased 22.5 percent up to US$99 million, when compared to the same period last year.

Specifically, March has been the month that reported the highest increase in tourist arrivals, rising 16.7 percent compared to 2009, due mainly to visitors who arrived during Holy Week.

INTUR’s report also highlights that 28 cruises visited Nicaragua in the past four months, four of which docked at Corinto Port in Chinandega and 24 in San Juan del Sur, Rivas. In total, more than 19,000 visitors disembarked from those 28 cruises. According to INTUR, the goal for the next two years is to attract 100 cruise ships to the country.

Some of the aspects that have made Nicaragua one of the most attractive tourism destinations in the region include the country’s pleasant climate, high levels of personal safety, unique cultural experience, spectacular natural beauties and affordable cost of living.

As part of the country’s efforts to promote tourism internally and externally, INTUR has launched a campaign that consists of organizing regional fairs across Nicaragua to highlight each region’s tourism potential. The theme of the campaign is “Nicaragua…Unique, Original”, and will be executed in conjunction with small and medium companies of the tourism sector, local municipalities and other government institutions.

Additionally, Nicaragua was the only country in the region that registered positive results in both tourism arrivals and tourism revenues during 2009, with growth rates of 8.6 and 25.2 percent, respectively.

Nicaragua, One of the Safest Countries in Central America and an Ideal Destination for Investors

WASHINGTON, DC, April 25, 2010 /24-7PressRelease/ — International rankings by prestigious institutions have recognized Nicaragua not only as one of the safest destinations in the region, but also as the fastest country in which to start a business and the country that best protects its investors.

The Economist Intelligence Unit 2010 (EIU), a global leader in business intelligence, positioned Nicaragua as the second safest country in Central America, only behind Costa Rica. The report uses a scale from 0 to 100, with 100 being the most risky. According to 2010 indicators, Nicaragua scored 29, while Costa Rica scored 14, Panama 37, El Salvador 46, Belize 53 and Honduras and Guatemala 68. EIU monitors around 200 countries worldwide measuring indicators such as armed conflict, organized crime, kidnapping, and manifestations.

In addition, the Global Peace Index 2009 (GPI) also placed Nicaragua as the second safest nation in the Central American region in its ranking of over 144 countries, which includes indicators such as the levels of military expenditure, its relations with neighboring countries and the level of respect for human rights. Among the Central American countries, Nicaragua is number two after Costa Rica, in the 59 position, while Guatemala is number 111, El Salvador 94, followed by Honduras as number 112.

Nicaragua has also been ranked as the fastest country in which to start a business in Central America by the Doing Business Report 2010, published by the World Bank Group. This category measures business regulations and the protection of property rights, as well as their effect on businesses. The study placed Nicaragua in the number one position within the Central American region, followed by El Salvador and Costa Rica.

This same report also positioned Nicaragua as the country that best protects investors, measuring transparency of transactions (extent of disclosure index), liability for self-dealing (extent of director liability index), shareholders’ ability to sue officers and directors for misconduct (ease of shareholder suits index) and strength of investor protection index.

Recent announcements of new investments projects in the country reinforce the above statements. PRONicaragua, the official investment promotion agency of Nicaragua, recently reported that nearly US$1 billion are expected to flow into the country in terms of foreign direct investment (FDI) during the next couple of years as a result of numerous projects soon to be developed in different economic sectors.

Nicaragua Information

Nicaragua takes its name from Nicarao, chief of the indigenous tribe then living around present-day Lake Nicaragua. A friendly and peaceful country that at times, received an undue share of negative press, Nicaragua is really one of the safest places to visit in Central America. With more than a decade of political stability, this democracy has moved steadily forward, leaving behind the war-torn ’80′s, remembered as one more chapter in it’s turbulent past.

Land of Lakes and Volcanoes

The nickname “land of lakes and volcanoes” describes this beautiful and fascinating country well. Two great lakes, Xolotlán (Lake Managua) and Cocibolca (Lake Nicaragua) occupy roughly 10 percent of the countries surface area, and are the largest in Central America. Running nearly parallel to the pacific coast is a chain of 58 volcanoes, six of which are active. The country also boasts the longest rivers in Central America, vast coastal lagoons, and hundreds of miles of sea coast. As the largest and lowest Central American country, Nicaragua is essentially an emerging “land bridge” between Atlantic and Pacific oceans. Centrally located between North and South America, Nicaragua has benefited from the astonishing blend of flora and fauna from the two continents.

Nicaragua Economy

Nicaragua is primarily an agricultural country, but construction, mining, and general commerce also have been expanding strongly during the last few years. Rapid expansion of the tourist industry has made it the nations third largest source of foreign exchange. Northern Nicaragua is currently primed for real estate investment.

Nicaragua Culture

Nicaragua’s cultural wealth is without a doubt one of its major attributes. Its beautiful colonial cities will transport you to a bygone era. Besides friendly smiles and Nicaraguan hospitality, another “Nica” feature is the festive spirit. Myths, dances, music, and ritual make up Nicaraguan folklore. People often say having visited Nicaragua that the people are the reason that they would consider returning, and we couldn’t agree more!

Nicaragua Biodiversity

The rich biodiversity of the country and its 76 protected areas make Nicaragua a great destination for eco-tourism. Bosawas Biosphere Reserve, covering 700,000 hectares, is the largest nature reserve. Nicaragua is home to numerous species including 6,500 vascular plants, 43 fish, 3,716 mollusk, 50 coral, 62 amphibians, 172 reptile, 676 bird, 251 mammal and 10 to 15 thousand insect. In all there are 1804 vertebrate species.

Nicaragua Currency

Nicaragua’s currency is the Cordoba, named after Francisco Hernandez de Cordoba, the Spanish founder of the colony of Nicaragua. The U.S. dollar is also an official currency in Nicaragua, and it is advisable that travelers from other nations bring currency in U.S. dollars. Major credit cards are increasingly accepted throughout the entire country. As of September, 2008, the exchange rate of Cordobas to U.S. Dollars was roughly 19 codobas to 1 dollar.