Tourism in Nicaragua received 18.7% more foreign exchange – La Prensa

Tourism in Nicaragua received 18.7% more foreign exchange

Yohany Lopez 03/22/2016
Tourism in Nicaragua received 18.7% more foreign exchange

The Central Bank of Nicaragua, through its official Twitter account, confirmed that the tourism sector in Nicaragua received $528.6 million dollars during 2015, According to the organization, growth was 18.7 percent as compared with $445.4 million dollars the country received during 2014. Indeed, Tourism in Nicaragua is growing quite a bit!

See:For Lucy Valenti, president of the National Chamber of Tourism (Canatur), this data reflects the efforts of both the private and public sector, who have sought to stabilize and raise quality levels.

“That figure lets us know that tourism generated more revenue Nicaragua that the main export products in 2015,” said Valenti, who acknowledges that with a strategy better focused to attract tourists to spend more, the country will exceed $1 billion dollars in a short term.
“With just the average daily tourist spending increasing by $ 30, we can see how the sector will continue to contribute to economic development and job creation,” said the president of Canatur.

According to data from BCN last year the average tourist spending in Nicaragua was $ 41.5, down a bit from 41.8 dollars in 2014.While the average stay increased from 7.7 days to 8.7 days.Read: Tourists spent less in 2015 in Nicaragua

La Prensa / FILE

So far the data that the BCN has pending is the number of tourists who entered the country. However, the co-director of the Nicaraguan Institute of Tourism (Intur), Anasha Campbell, said that during 2015, 1.45 million visitors entered the country, of which 1.38 million were tourists, 23.473 cruise passengers and  46.235 tour participants.

According to Campbell, housing increased in 2015 compared to 2014 by 654 rooms, when Intur statistics reflected 13,242. You can also read: holiday accommodation in Nicaragua must grow

related notes

Source: Turismo en Nicaragua percibió 18.7% más en divisas – La Prensa

Hey hey! More good data points coming out of the tourism sector of the economy. It is interesting to read that tourism now accounts for more spending than the income from the country’s largest exports. While the article doesn’t say what those exports are, presumably they are cigars, cattle, and other agricultural products.

One other small note, the president of CANTUR, Ms. Valenti says that if the daily spend increases by $30 we can see the sector continuing to support economic development and generation of jobs. Well, I’d like to see the plan on how that is happening, because the daily spend by tourists is currently a little over $40, so how are you about to increase that by 75% with another $30?

There needs to be a study of perceived value for lodging, tours, and other services rendered to visitors, a comparison of prices for said items in Nicaragua, and how much the same types of services and products cost in neighboring countries.

Then, let’s see what the quality is compared to these other places and see if Nicaragua needs to increase the quality of the offerings, and in what respect? Better quality beds? Better trained tour guides? Transportation? Infrastructure? Exactly what needs to change to get that average spend up? I for one would be interested in participating in any studies done!

The obvious “wins” to increase the spending would be from an increase in:

  • cruise passengers
  • luxury spas and other five-star resorts
  • luxury tours

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