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8% Growth in Foreign Investment
in Tourism Sector Expected
The strategy by Costa Rican
officials to attract more
foreign investment for the
tourism sector has come to
fruit, with some us$155 million
dollars being invested in Costa
Rica during 2006, representing
an 8% increase over 2005, when
foreign investors made an
investment of us$143 million
dollars.
The investment results were made
public during the inauguration
of commencement of the II Bolsa
de Inversión Turística with the
participation of Costa Rican
president, Oscar Arias, along
with Ministro de Turismo,
Ricardo Benavides.
The event is being attended by
more than 300 national and
international developers,
investors, tour companies,
representatives of hotel chains
and both public and private
financial institutions.
The Instituto Costarricense de
Turismo (ICT) - tourism board -
made available figures that
showed that 81% of the
investment went to the
construction of tourism
projects, that included
expansion and remodelling of
hotels in various parts of the
country.
Figures revealed that a strong
investment was also made in the
construction of marinas,
totalling some us$17 million
dollars and the construction or
remodelling of restaurants,
representing a us$7 million
dollar investment.
A third of the investors are
from the United States, followed
by investors from Canada,
Europe, El Salvador and Mexico.
"The growth in foreign
investment is due to the
confidence in the country, with
rights and solid and stable
politics. The tourist industry
is the best distributor of
wealth", said Benavides in his
inauguration speech.
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