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Bill would provide some $15 million to help struggling tourism businesses

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April 28th, 2015 (InsideCostaRica.com) A bill making its way through Costa Rica’s Legislative Assembly would provide some $15 million in financial assistance to small and medium tourism-related businesses who have struggled since the financial crisis which began in 2008.

 

Costa Rica’s tourism institute, ICT, would provide $7.5 million, while the country’s development bank would provide the remainder of the financing.

 

Promoters of the bill hope to assist around 100 businesses.  The funds would primarily be used to help businesses restructure their debt, according to reports.

 

Tourism businesses in rural areas, such as La Fortuna de San Carlos, home of Costa Rica’s Arenal Volcano, would be especially targeted.

 

The bill, which is receiving significant support across party lines, could be approved in the coming months.

 

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  • disgusted

    So first in line would be the politically connected, Those who have family member and of stature. So for average of 100 businesses that is $150,000 each IF divide evenly, Nice EH! Seems to be a bailout! I take a million then soon file bankruptcy of the company. Poof! money gone into whose pocket.

  • Ken Morris

    Yeah, Disgusted beat me to it. There’s way too much money in this bill to help failing businesses that in a market economy probably should fail. I mean, is any money in this bill earmarked for the operations that offer visitors tours of the San José brothels? Really, some businesses should fail. Sorry.

    Though I am on the fence a little, since I strongly favor small and medium businesses over large ones in the tourism industry as well as elsewhere.

    Even so, I doubt that handing out tax dollars to small and medium businesses is the way to encourage them (or at least the good ones). There are probably better policy initiatives the legislature could take to encourage these businesses that stop short of just giving them money.

    • disgusted

      Ken your right! Most tour operators have a Office ,phone, desk and computer. The desk person connects you to whatever adventure.your seeking. Some may have a van. They are like travel agencies mostly. little over head. Like you, I am skeptical that this will help anyone other than those getting the money and pocketing it themselves, They have really no assets anyway.

  • Yeims

    The government here has made it pretty damned clear to the tourists that it wants their money, starting right there at the airport when they arrive. After that, fresh meat, everyone!

    This has always been a factor in tourism here, charging tourists and ripping off tourists. 30 years ago, Costa Rica was billed as the “jewel of Central America” and now it is more like the faded old whore who is going to take whatever she can from whomever she can.

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