Facilities for Investors in the Tourism Sector
2020 will be remembered as one of the most difficult years for the tourism industry around the world. Costa Rica has not escaped the challenges brought by the Covid virus. The country had maintained a constant steady growth in the tourism sector for the past 10 years and its economy is dependent on the industry. It is likely to take several years to make a full recovery financially.
Beyond that, Costa Rica Tourism Board (ICT by its acronym in Spanish) has been a prominent force in promoting programs that support the growth of the industry. Through this and strict COVID protocols, the country is beginning to recover little by little. Much to the relief of the citizens who rely on it for their livelihood.
One of these programs is the Investment Attraction Unit, where both ICT and the Costa Rican lnvestment Promotion Agency (CINDE) provide those interested in doing business in the country with key information for its development.
CINDE assists companies in two main areas: providing detailed information and statistics about the country and the organization of personalized investment agendas. Likewise, it will give support to the companies to select the place where to install the operations.
The services provided by CINDE are free and can be of great help not only for new businesses but also for investors who are already established in the country and that may require support to expand their operations strategically.
Additionally, the ICT has two strong strategies to attract new airlines and cruise ships, both of which will provide operational benefits to investors who wish to take advantage of the country’s tourism potential to grow their businesses. All these efforts are aimed at increasing the number of people entering Costa Rica and therefore strengthening the economy through this industry.
These options and the SME and Development Banking programs, give businesses a new lease of life to align their objectives and create operational and financial structures with a greater chance of success.
