Many people are familiar with the success story of the tourism industry in Costa Rica. In the past several decades, this country has blossomed into a premiere tourism destination for North Americans. Those who were forward-thinking enough to invest in Costa Rica at the inception of this major tourism boom became very wealthy. Many tried to emulate this by investing in tourism in Costa Rica later on, after the initial growth had already occurred. These people saw mixed success. The lesson of this goes back to a fundamental tenet of being successful in the business world, which is to be in the right place at the right time.
Tourism in Costa Rica has gone through its boom phase, and now the market is much more saturated than it was several decades ago. This is unfortunate news for those who want to invest in tourism in foreign nations. However, there is another up-and-comer in the Central American region which has great growth potential in the tourism industry, and which is in fact going through a period of strong growth right now. This country is Nicaragua.
Right now is the perfect time for investing in Nicaragua. Nicaragua is going through a lot of transformations that are making this country, which is already very attractive for foreigners to visit, even more attractive.
One of these transformations is an improvement of the infrastructure of Nicaragua. The Nicaraguan government has been working on improving major roadways and city streets for years now. For 2016, the government of Nicaragua has already earmarked several million dollars for the expansion of 25 miles of highways, as well as the construction of 30 new miles.
Foreigners are also becoming more aware of the many natural and cultural attractions that Nicaragua has to offer. Natural attractions like the Apoyo Lagoon and the fabulous surfing along Nicaragua’s west coast, as well as cultural attractions like the colonial towns of Granada and León are getting much more recognition than they have before.
Foreigners are definitely noticing. The number of tourists has been steadily increasing in Nicaragua over the past several years. At the turn of the millennia, Nicaragua welcomed approximately 500,000 tourists. By 2010, that number had climbed to a full 1 million, and in 2015 it had gotten up to 1.4 million foreign tourists. The president of Nicaragua’s Chamber of Tourism says that in 2016 she expects Nicaragua to increase international tourist arrivals by 10%.
With all of the positive signs of growth in Nicaragua, investing in Nicaragua is looking more and more attractive everyday. If you want to really capitalize on this unique opportunity, you will want to get ahead of the curve by investing in Nicaragua today.