Nicaraguan Newsletter - January 2008 - Issue 1 - Gran Pacifica Resort Nicaragua Real Estate,Oceanfront,Condos,Homes,Beach & Golf

Nica - Newsletter

January 2008

Issue: 2008 - 01

Dear Readers,

As the new year begins, we can't help but reflect on the past year and what has happened here in the country, as well as here at the company.

A new president for the country�brought concerns about change, but the stability, positive investment environment, and good feelings here in Nicaragua have not changed. We bore witness to tragedy on the Atlantic coast, but followed with incredible resilience and kindness in the people of the country in the face of that adversity. We saw huge changes at Gran Pacifica, not only in construction progress and the opening of the first restaurant at the property, but in the office as well, with the addition of our new president, Martin Roberts. And through all these changes, we have continued to grow and thrive here in Nicaragua, a country that we love being able to call home.

In this edition of the Nica News, you will see a big selection of press articles; Nicaragua is slowly but surely becoming a star in publications about adventure travel, eco-tourism, even being called one of several "sexy" destinations by MSN. We certainly aren't complaining, nor is this news to us. But you will also see that Nicaragua really does rank at the top in terms of safety�and this assertion is backed by real numbers.

New energy sources are constantly being explored, which is of critical importance for this country. Economically, Nicaragua has pledged to buy back over a billion dollars of debt. Things are constantly looking better for our little corner of paradise, and we are so eager to share it all with you.

Which brings me to our recent Shareholder event earlier this month.�Over 100 folks�paid their own way down to be a part of this fun and�exciting�event. �Activities, in addition to business, included the meeting, a beach BBQ, horseback riding, hanging at the beach and by the pool, zip line canopy tours, and trips to other cities around the country. It was a great chance to remind all our shareholders why we love it so much here in Nicaragua.

All of us here at Gran Pacifica hope you celebrated the best of the best this holiday season, and we are excited to see what this year will bring!

Keep in touch, and have a wonderful 2008!

Mike Cobb
CEO
Gran Pacifica

Business News and Economy
Tourism and Country News
Press Articles

Back to main Nica Newsletter

Business News and Economy

Maisto, Former Top White House Policy Adviser and Central America Ambassador, Joins Board of ECI Development, Ltd.

Will Help Guide Beachfront Resort and Retirement Developments on Both Coasts in Central America.

Managua, Nicaragua – 10 Dec. 2007 – Former United States Ambassador John F. Maisto, a past White House adviser for the Western Hemisphere, and who led U.S. diplomacy at the Organization of American States and the Summit of the Americas, has joined the board of directors of ECI Development, Ltd., a regional Central American resort and retirement community developer with properties in Belize, Nicaragua and Costa Rica.

Maisto served as ambassador to Nicaragua in the mid-1990s, and was in charge of $900 million in U.S. government aid programs, including obtaining $100 million in new economic development initiatives, benefiting hundreds of thousands of people. He gives ECI Development a seasoned diplomatic veteran with more than 20 years of Central American experience at a time when the company is targeting the North American baby boom generation that's soon to retire and seek a go-to destination. ECI Development recently completed acquisition of property in the heart of Ambergris Caye, Belize, and last year purchased 3km of oceanfront land in Costa Rica. As well, ECI's Gran Pacifica Resort, a 2,500 acre property in Nicaragua, is ready to launch a second wave of construction of Pacific beachfront residential, condominium and hotel units.

One of the reasons Maisto was attracted to ECI Development is its “social heart” and humanitarian focus on providing health and education benefits in neighboring communities surrounding its properties. In Nicaragua's Villa El Carmen, for example, the company is assisting 6,000 students and 60 teachers in 12 schools, working closely with local government officials. Gran Pacifica also is investing in the future development of Nicaraguans, he said, by creating significant jobs in the construction, ongoing operation and supply chain of the resort.

“The government of Nicaragua is on board at all levels,” he said.

Another reason why ECI Development's work appeals to Maisto is Central America's continuing growth in trade and investment opportunities on the global stage, having devoted his diplomatic career to the peace and prosperity of the region, with Costa Rica's and Panama's booms as major examples.

Maisto is ECI Development's second recent high-level personnel addition. In September 2007, it tapped Martin G. Roberts as its new president and COO. Roberts has 35-plus years of management experience in residential and commercial construction and is leading day to day operations, construction and marketing of ECI's major land assets in Costa Rica, Belize and Nicaragua. Roberts previously was President/CEO of The Westchester Group, Inc., a custom home building company in Tampa, Florida for 18 years.

ECI Development's Strategy - ECI co-founders Michael K. Cobb remain as chairman and CEO, and Joel M. Nagel as chief financial officer and general counsel. These moves allow Cobb to spend more time building the strategic relationships with joint venture partners who are already rolling out a golf course and three condo projects at Nicaragua's Gran Pacifica. Future partners are expected to include hotels, marina, spas, and other amenity and residential offerings.

ECI Development's strategy is rooted in the demographics of the baby boom generation that's soon to retire and start seeking a go-to destination. North Americans who missed the opportunity to own affordable coastal property in Florida and California are seeking ocean-front residence bargains and affordable resort and retirement lifestyles. ECI expects to use its development model in Costa Rica, Belize and other Central American countries to deliver exceptional value with an over-the-top quality of life experience.

About Nicaragua's Gran Pacifica (www.granpacifica.com) – Gran Pacifica is Central America's first new urbanist resort/retirement community. It is strategically located one-hour west of the international airport on over three miles of Pacific beachfront. Under Cobb's leadership, Gran Pacifica has to date invested $8 million in physical infrastructure to the site and has opened its first condominiums and residences.

The resort ultimately will include private homes, condominiums, an upscale hotel managed by a leading worldwide hospitality company, and a championship golf course. With advanced fiber-to-the-home technology, Gran Pacifica is one of the most technologically advanced residential tourist projects in Latin America. It will provide residents and guests with the same type of high speed internet, television and telephone access they enjoy in North America, Asia and Europe.

Gran Pacifica is set against the backdrop of Nicaragua's turnaround as a center for tourism and foreign trade. This once-beleaguered nation has enjoyed four consecutive peaceful transitions of presidential power since 1990, and has become easily accessible, safe, attractive and inexpensive, and investment opportunities are timely.

About Costa Rica's Gran Caribbean (www.grancaribbean.com) – Acquired in early 2006, the Playa Del Sol property features 1,112-acres of Caribbean Ocean beachfront property near Limon, Costa Rica. Until the purchase by ECI, Playa Del Sol was one of the largest privately owned Caribbean paradise beachfront properties available in the world, with 1.85 miles of undeveloped Caribbean Ocean frontage on 1,112 acres of land.

About Belize's Grand Bayman (www.grandbayman.com) – Combining two properties in San Pedro, Ambergris Caye, Belize, ECI will create the largest development parcel in town and will develop a small village of garden homes and condominiums as an integral part of the San Pedro Tennis and Fitness Club. Grand Bayman features two lighted tennis courts, workout facilities, the largest swimming pool in Belize, and restaurant, all less than 200 yards from the ECI's Caribbean front property. Residents can enjoy access to a variety of water sports including world class diving, snorkeling, fishing, and seaside dining and entertainment.

More About Maisto – Maisto, who retired in 2006, served in Nicaragua, Venezuela, Costa Rica, Panama, Argentina, Bolivia and the Philippines in his Foreign Service career, as well as in top policy positions in the White House, Department of State and at the U.S. Southern Command. Most recently he completed three years of service as U.S. Permanent Representative to the OAS. In 2003, he served at the request of President George W. Bush as U.S. Coordinator for the Summit of the Americas, and he coordinated the President's participation in Summits in Mexico in 2004 and Argentina in 2005.

At the OAS, Maisto ensured funding and OAS focus on strengthening democracy, human rights and election observation. He supervised the 2005 Fort Lauderdale OAS General Assembly, the first hosted by the U.S. in 31 years, attended by the President, Secretary of State, and 33 hemispheric ministers.

Maisto served as Special Assistant to President Bush and as Senior Director for Western Hemisphere Affairs at the National Security Council for Dr. Condoleezza Rice from 2001 to 2003. He organized the President's 2001 Quebec Summit participation and his visits to Mexico, Peru and El Salvador. He oversaw U.S.policy with Central and South America, the Caribbean and Canada, including economic development and security assistance, border issues, human rights, crime, terrorism and narcotics matters. He coordinated policy with the U.S. Treasury Department leadership on support for key hemispheric countries at the International Monetary Fund, World Bank, and Interamerican Development Bank.

He was Foreign Policy Adviser at the U.S. Southern Command, 2000-2001. As Ambassador to Venezuela, 1997-2000, he led energy diplomacy with the U.S.'s fourth largest oil-provider, established working relations with newly-elected Hugo Chavez, and directed a U.S. $11 million flood/mudslide disaster relief effort.

As Ambassador to strife-torn Nicaragua, 1993-1996, he directed $100 million in new U.S. aid to consolidate democracy, address education and health needs, and stimulate growth, and he oversaw the ongoing U.S. aid package of $900 million. As Deputy Assistant Secretary of State for Central America, 1992-1993, he worked with Congress to ensure post-conflict funding, supervised U.S. cooperation with two United Nations-mandated human rights commissions in El Salvador, resulting in hundreds of military dismissals, and directed the first-ever U.S. contact with Guatemalan rebels to advance stalled peace negotiations. At the OAS as Deputy U.S. Permanent Representative, 1990 to 1992, he spearheaded the OAS taking the lead, with U.S. funding, for resettlement in former conflict areas, human rights monitoring, and de-mining.

In Panama as Deputy Chief of Mission and Charge d'Affaires, 1986-1989, he led Embassy efforts to engage the democratic opposition throughout transition from narco-military dictatorship to elected government.

As head of the State Department's Philippine Affairs Office, 1984-1986, he directed the review, analysis, strategic planning, and development of U.S. policy toward the Marcos dictatorship and the transition to democracy, including public diplomacy and media outreach. He advised, assisted, and accompanied President Reagan's Special Envoy, Philip Habib, in two trouble-shooting missions that were instrumental in the transition.

His previous experience included U.S. embassies in the Philippines, Costa Rica and Bolivia, and country desk and staff positions at the State Department and the Pentagon. He worked with U.S. Information Agency bi-national centers in Argentina and Bolivia. He joined the Foreign Service in 1968.

Ambassador Maisto has spoken and written extensively on U.S. policy in the Americas, U.S.-Philippine relations, democratic transition, hemispheric security, democracy, human rights, competitiveness, trade, economic development, and education. He is fluent in Spanish and conversant in Portuguese and Italian.

Ambassador Maisto is a Director of the Miami-based U.S. Education Finance Group (USEFG) and a Board member of the Washington-based International Student Exchange Program (ISEP). He is a member of the Board of Advisers of the Inter-American Dialogue in Washington, D.C.

A native of Braddock, Pennsylvania, Ambassador Maisto has a Bachelor of Science in Foreign Service (BSFS) from Georgetown University, Washington, D.C. (1961). He has a Master's Degree in Latin American History from San Carlos University, Guatemala (1962), where he studied as a recipient of a U.S. Government Smith-Mundt Grant under the Fulbright Program. He is married to Maria Consuelo Gaston Maisto. They have a son and two daughters.

Among many others, here are links to news outlets that have used the press release on their websites:.

Nicaragua to buy back $1.3B in debt

MANAGUA, Nicaragua

Nicaragua has arranged to buy back more than $1.3 billion of its foreign debt from creditors, the finance ministry said Wednesday.

The operation was financed by a donation from the World Bank's Debt Reduction Facility, as well as contributions from various Northern European countries, Russia and Britain, the ministry said in a statement.

The agreement "will put an end to various legal actions filed against Nicaragua by its commercial creditors and will contribute to the normalization of its relationship with the international financial community," Finance and Public Credit Minister Alberto Guevara said.

The debt belongs to about 110 creditors, mostly from the United States.

Fitch Special Report: Positive Trends in Central America Insurance Sector

NEW YORK & SAN SALVADOR, El Salvador--(BUSINESS WIRE)--According to a Fitch Ratings special report released today, entitled 'Central America Insurance Sector,' the sector shows positive trends in premiums and operating expenses leading to rising profitability, healthy growth in premiums in Central America led by Costa Rica and Honduras, a stable loss ratio, and adequate liquidity and leverage ratios.

"Fitch believes that the Central American insurance sector will be undergoing significant changes over the next few years," said Director Eduardo Recinos of Fitch Central America. "The restructuring process carried out in Costa Rica, the significant increase expected in foreign investment, regulatory improvements and the development of new distribution channels and products all support Fitch's view," he adds.

To read more about Central American insurance, click here.

The Central American insurance industry recorded a 44% increase in net profits during the first half of 2007, to US$100.1 million, resulting in an average return on equity (ROE) of 26.9% for that period. The significant growth in profitability was attributable to a substantial expansion in net premiums combined with a decline in operating expenses (mostly in Costa Rica) and a relatively stable loss ratio (59.7%).

Due to the region's strong economic growth, total premiums written amounted to US$770.1 million during the first half of 2007 (1H07), a 16.5% increase compared with the same period last year. The largest growth rates were recorded by Costa Rica (29.9%) and Honduras (22.8%), followed by Guatemala and Nicaragua at 12.5% and 10.3%, respectively. In El Salvador, on the other hand, total premiums grew by only 5%, reflecting the country's relatively slower economic growth, as well as the current price war observed in its property & casualty (P&C, including auto insurance) segment.

In terms of total premiums in the region, Costa Rica had the largest share, with US$226.4 million written during 1H07, followed by Guatemala (US$195.6 million), El Salvador (US$184.8 million), Honduras (US$115.2 million) and Nicaragua (US$48 million).

Liquidity and leverage ratios remain at adequate levels, with overall liquid assets-to-reserves of 1.3 times (x) and net equity-to-total assets of 3.4x during 1H07.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.

Go back to top

Tourism and Country News

Nicaragua, country with lowest crime rates

La Prensa, Managua

November 5, 2007.

The country will close 2007 with an average homicide rate of 14 per 100,000 people, a rate much lower than regional indicators that are reported by Interpol, stated the Chief of the National Police, Aminta Granera.

In declarations given yesterday on national televisión, the Chief of Police said that according to the regional indicators in Latin America, the average rate for the región is 30 homicides per 100,000 people.

She added that the homicide index in El Salvador is 58, Guatemala 48, Honduras 44, and Panama 14.

The Chief also said that while there have been 24 bank robberies in Guatemala, and 18 in Honduras, there has only been one assault on a banking institution in Nicaragua; with respect to auto theft, Nicaragua is the country where this type of crime happens the least.

According to the Nicaraguan pólice files, 200 vehicles were robbed here in 2006, while in Puerto Rico there were 8,593 vehicles stolen.

Drugs, the real headache.

Youth gangs are another area where Nicaragua presents good figures; the groups have been reduced to small delinquent clusters found in the major cities.

However, the principal concerns of the authorities are crimes related to drug trafficking, such as the movement of drugs and money. Over the course of this year, there have been several important “busts”, but in some cases the detainees have escaped, especially on the Caribbean coast of Nicaragua.

Solving Nicaragua's Energy Crisis With Very Sweet Biomass

by Alternative Energy Retailer Staff

Wednesday 21 November 2007

The government of Nicaragua ceased its national policy of electricity rationing on Dec. 1, thanks to an unlikely biomass resource.

According to a report on the Spanish news service EFE, the Nicaraguan Energy and Mines Ministry announced the Monte Rosa and San Antonio sugar cane refineries in western part of the country will each begin to generate about 30 MW of energy from the residue of the local sugar cane harvests. The addition of 60 MW of sugar cane power will help to alleviate acute electrical shortages - the national electrical demand is 514 MW, but the daily energy deficit varies between 50 and 100 MW.

Nicoya owner offers a taste of Nicaragua

By Keri Kirby
The Herald-Zeitung

Published December 5, 2007

The smells and flavors of Nicaragua that remind Catalina Chavez of her home country are simmering in New Braunfels.

“I’ve wanted to do something like this for a long, long time,” said Chavez of her recently opened restaurant Nicoya at 1528 E. Common St.

Chavez, who moved to the U.S. from Nicaragua in the 1970s, said she’s fostered a desire to share her love of cooking and flavors of her native country with others and New Braunfels seemed like the perfect place.

“This community is growing a lot and I see the different kinds of people here,” she said. “People travel a lot here and they’ve been exposed to my food — Latin American food. They’ve been in Costa Rica, Panama, Honduras and Guatemala. ... When you mention plantains or yucca they know already and they like the food.”

Chavez created the authentic dishes on the menu from recipes her mother and aunt often made when she was a child, she said, adding that she stays true to the country’s flavors by importing many ingredients from Nicaragua.

To read more about Nicoya, click here.

Diners unfamiliar with Central American cuisine will find a few recognizable items on the menu, such as carne asada, but most of the dishes boast unique flavors.

Chavez said most of the meat used is marinated with sour or bitter orange, which tempts taste buds with a bold, fragrant flavor.

To create the popular dish baho, Chavez says the meat is slowly steamed in banana leaves with sweet plantains and yucca.

Those unsure of what to order shouldn’t look to the menu for explanation. Chavez said she purposely created the menu in Spanish with little explanation of the dishes written in English.

“When I made the menu, I put most of the dishes in Spanish so I can have the attention of people and talk to them and explain it to them,” she said, adding that she wants diners to know more than just her food and country. “That way they can know me,” she said.

If you go

• Nicoya, which means a local or native of Nicaragua, is open 7 a.m. to 8 p.m. Monday through Friday, 8 a.m. to 7 p.m. Saturday and 10 a.m. to 4 p.m. Sunday.

• The restaurant offers coffee and beer imported from Nicaragua and there are a small number of products and items available for sale.

• Call 830-626-0229 to learn more.

International Fishing Tournament Held on Pacifica Coast

An international fishing tournament, sponsored by Maspor Marine of Nicaragua, was held on the Pacific coast of Nicaragua, in Chinandega. It was just one of many high profile tournaments of its kind that are put on up and down the coasts of Nicaragua, with all sorts of prizes.

For more information about this and other tournaments of the like, refer to Maspor´s website, www.maspor-marine.com.

Go back to top

Press Articles

NUWIRE INVESTOR: Top 5 Latin American Real Estate Markets

Published on: Wednesday, November 14, 2007
Written by: Melana Yanos

For investors who want to explore foreign real estate, some of the best opportunities are just south of the border in vibrant Latin America. NuWire has selected our Top 5 Latin American real estate markets, all of which offer spectacular landscapes and appealing lifestyles at affordable prices.

The market appears especially ripe for picking as Latin American governments implement programs to attract foreign investment and improve their economic growth potential. Investors can also take advantage of the growing number of resources available for locating and purchasing real estate in Latin American countries.

1. Chile

Chile is a hidden gem that doesn’t get the press and investor excitement it perhaps should. With the most stable and advanced economy in South America, Chile enjoys a high standard of living. Chile ranked eleventh—one spot behind Canada—in terms of the country’s degree of economic freedom, according to the 2007 Index of Economic Freedom put forth by The Heritage Foundation and the Wall Street Journal.

“Chile has two things not easily found in Latin America, stability and security,” Charles Spencer, editor for AllChile.net and general manager of Spencer Global Consulting, said.

In addition, Chile’s tourism has begun to pick up speed: the World Trade & Tourism Council projects growth of around 12.3 percent this year. Real estate values in Chile are also steadily climbing, and not as a result of an “artificial real estate bubble,” Spencer said.

Chile’s capital, Santiago, is a booming metropolitan center in its own right, with first-class infrastructure. More than a third of Chile's population resides in the metro area of Santiago. The capital is a business hub for Latin America and welcomes an abundance of business travelers. However, the bustle of activity in the manufacturing and mining businesses has created a considerable amount of air pollution, particularly in the Santiago area, a drawback that prospective real estate investors will want to keep in mind.

2. Brazil

Brazil is the largest country in South America—only slightly smaller than the entire U.S., according to the CIA World Factbook. By virtue of its size, Brazil offers a wide variety of investment opportunities; from cities such as the modern, urban Sao Paulo and the beach resort city of Rio de Janeiro to vast areas of farmland and timberland, there are opportunities for large and small investors alike.

Although Brazil still struggles with social problems such as income inequality and poverty, the country’s outlook remains positive, as indicated by the country’s impressive economic strides during the past few years. The growing success of its economy is reflected in the government’s efforts to attract foreign investment, especially in development of the Northeast coastal areas of Brazil.

“The Brazilian government initiated a large public investment program for the Northeast around 10 years ago [in order] to capitalize on the region’s exceptional natural resources,” Marco Sangez, online marketing executive for Brazil Real Estate, said.

Specifically, the State of Rio Grande do Norte, and areas near the city of Natal are hotspots in the Northeast region of Brazil, Sangez said.

Brazil’s two major cities, Sao Paulo and Rio de Janeiro, have already been discovered by investors and tourists, and the demand has driven up property prices. However, there are still millions of acres of terrain for investors to purchase and capitalize on.

In addition, the competitive currency allows for low overhead costs and increased productivity and profits for international investment from countries such as the U.S. and the U.K., Alexander Willi, owner of bahiarealestates.com, said.

“International expatriates who relocate or holiday in Brazil are also finding that their money goes [much] further, making it an affordable tourist destination or a cheap retirement country,” Willi said.

As an added bonus, Brazil accounts for 14.9 percent of total freshwater resources in the world, outranking all other countries, according to AQUASTAT. Brazil is also the largest producer and exporter of ethanol in the world, according to the Economic Research Service of the U.S. Department of Agriculture, placing the country in an excellent position for future economic growth.

3. Uruguay

Uruguay’s real estate market offers special advantages in terms of the country’s social and economic structure. “Uruguay is the safest country, has the least economic disparity, and the most highly educated population in Latin America,” David Hammond, realtor for ParadiseUruguay.com, said. “It is the second least corrupt country in Latin America, behind Chile; [it also] has good health care, and is one of the most affordable places in the world to live.”

Uruguay is the fifth wealthiest country in Latin America, with a per capita GDP of $10,900, according to the CIA World Factbook. The average per capita GDP for all Latin American countries, in contrast, is $7,200. Uruguay is famous for its cattle ranching and meat industry. The country has seen healthy economic growth over the past few years, with 12 percent growth in 2004 followed by 7 percent growth in 2005 and 2006.

The capital city of Montevideo is a major hub for investment and home to approximately half the country's population. It is a relatively modern city where investors can find a variety of residential facilities to choose from, from elegant apartments to old colonial homes. Montevideo is only a three-hour ferry ride from Buenos Aires.

The city of Punta del Este, on Uruguay’s southern border, has also attracted a large amount of foreign investment. The city is considered by some to be a playground for the rich.

“Punta del Este is the continent's premiere beach resort and the favorite New Year's spot for the world's most affluent and influential leisure travelers,” Hammond said.

Although Uruguay may seem like paradise, there are both geographic and economic factors that might impede the country’s real estate market growth. Uruguay’s terrain is almost entirely flat and has little elevation, which leads to frequent flooding, the only serious type of natural disaster inhabitants are likely to encounter. In addition, Uruguay’s economic success is closely linked to that of Argentina and Brazil; if either of those economies begins to struggle, Uruguay’s economy will likely follow suit.

4. Peru

Peru has been generally overlooked as a place for major investment; consequently, property prices have remained low. Prices may rise as the country becomes the subject of more media attention. Peru made headlines in 2006 when it had the best stock market performance in the world, with a staggering gain of 182 percent, according to the annual review of world stock market performance by Thomson Financial.

Investments in Peru present low risk and chances of good return, Doron Weisbarth of Lima Real Estate, said.

“A severe housing shortage and short construction cycles ensure strong prices, easy sales and quick returns,” Weisbarth said. In addition, “local, Peruvian banks provide 70 to 75 percent of the financing and close scrutiny of the builders, [so] investors enjoy smaller risk yet.”

The investment climate is made even more favorable by the rapid growth of Peru’s economy, at an estimated rate of 8 percent in 2006. Peru’s tourism industry is also gaining speed thanks to attractions such as Machu Picchu, announced as one of the New 7 Wonders of the World in July.

In addition, Peru’s government has extended investment-friendly policies to attract foreign capital.

“In order to lure the private investor, Peru’s strongly democratic government beefed up protections for private investors, removed any restrictions on money transfers in or out, and allowed for foreign entities to own real property,” Weisbarth said.

The capital, Lima, receives the lion’s share of investment in Peru. Lima is home to around 8.6 million people, roughly a third of Peru's entire population, and is the source of approximately two-thirds of the country’s total economic production. The city is almost entirely industrialized with most, if not all, of the comforts found in the United States, and offers a diverse selection of residences, from colonial mansions to beachfront bungalows.

Earthquakes, however, present a potential liability for real estate investment in Lima; investors should take this under consideration before deciding to purchase property there.

5. Nicaragua

Although Nicaragua is known for its history of political instability and conflict, the previously war-torn nation is desperately trying to attract foreign investment. The real estate market has appealed to many investors as Nicaragua’s attractions become increasingly popular among visitors and expatriates alike.

“Because Nicaragua has historically been overlooked by travelers and real estate investors [in comparison] to Costa Rica, Panama, and Mexico, prices have remained extremely affordable,” Henkel Smith, president of Water’s Edge International Realty, said. “Nicaragua's real estate market is definitely still in its infancy, but we see things changing as the number of foreign visitors and investors continue to buy up properties.”

coast

Nicaragua could become an ideal retirement and vacation destination for millions

The country has an abundance of natural resources, beautiful landscapes and a government that claims to be welcoming towards foreign investment and tourism. Assuming the government’s expressed attitude towards foreign investment is genuine, Nicaragua appears to be an investor's dream, offering an ideal retirement and vacation destination for millions of people, especially Americans and Europeans.

On the other hand, some investors might find Nicaragua’s political structure to be intimidating; those who perceive President Daniel Ortega’s position of power as threatening have been discouraged from entering the market. Nevertheless, optimistic investors believe that Ortega’s personal investment in business and tourism projects around the country are a sign that he plans to take a different path this time in office, and that the President is now trying to make amends for his violent past as a young Sandinista revolutionary.

Nicaragua’s investment hotspots are Granada, a colonial town on the bank of Lake Nicaragua, and San Juan Del Sur, a booming fishing village located on the Pacific Ocean just north of Costa Rica. Although a profusion of new developments are happening along the Pacific coast, most of the country awaits significant advancements in infrastructure, providing investors with opportunities to buy property in almost any price range.

Nicaragua: Paradise on the Pacific Coast

LIVINGSTON, NEW JERSEY

November 04, 2007

Real Estate News

(PRLEAP.COM) International traveler and real estate investor Vinnie Apicella draws on years of experience and local connections to offer Nicaragua as a featured location at Vinnie’s World, www.vinniesworld.com, an online platform that allows visitors to capitalize on key investment opportunities in select emerging market locations.

The creator of Vinnie’s World has been a frequent visitor to Nicaragua since 2001 and combined a wealth of knowledge and local resources, including everyone from ex-pat business owners to property managers to legal advisors, which have enabled him to make a number of successful property purchases and distribute detailed information to site visitors.

Such articles authored by Apicella as The Undiscovered Country and Exploring the Undiscovered provided answers through a first person narrative for readers to “discover” Nicaragua as a beautiful but downtrodden country that had much to offer visitors and investors. “I certainly knew of Nicaragua’s troubled past and the risks involved in investing in emerging countries on a broad scale, but after my first visit, I was awed,” says Apicella. “The abundance of natural beauty and pristine coastline was simply breathtaking.”

With governmental instability and internal strife now in the past, Nicaragua is rebuilding and primed for a promising future. Many travelers have become residents, enamored with the family-friendly atmosphere and favorable year-round climate. Tourism is growing at 19% annually and contributing more than any other industry to the country’s economy. At the close of 2007, it is projected that more than one million visitors will arrive in Nicaragua. “We’re seeing more and more people buying property, building homes and even starting a business,” Apicella adds. “They’ve realized you can own a piece of paradise at a fraction of the cost of most other places in the world.”

The “paradise” is Nicaragua’s prized Pacific coast, which stretches from Costa Rica to the south and Honduras to the north and a breeding ground for several coastal projects catering to savvy investors seeking a sun-bathed retreat. Names such as Rancho Santana and Montecristo Beach have become synonymous with burgeoning coastal development. Closer in to the capital city of Managua, Gran Pacifica is a large scale project of unprecedented proportions, expecting to house a brand name luxury hotel and casino before the end of the decade.

With tourism on the upswing, so too is the entrepreneurial spirit of ex-pats who are entering the market with everything from eateries, bed and breakfasts, specialized tours, surf camps, and almost anything that contributes to the country’s rising tourism sector. Owing much to a widely hailed governmental perk known as Law 306, qualified investors are exempt from paying income or property taxes for up to ten years.

Prior to the November 2006 presidential elections, all of the political parties stressed their commitment to continuing the country’s upward trend in tourism and support of internal investment. In 2007, during his first 100 days as president, Daniel Ortega managed exports to top $1 billion for the first time in Nicaraguan history. According to World Bank, Nicaragua is now the country with the best conditions for business and attracting foreign investments in Central America.

At Vinnie’s World, visitors will find a selection of quality properties along Nicaragua’s Pacific coast. The website features a content-rich section on Nicaragua that arms viewers with plenty of background and essential facts about the country and why it should be on their radar for a family vacation or future investment.

“I researched Nicaragua in the first place because it was so inexpensive to buy property,” says Apicella. “Was it a good deal? Time has proven that so far it is. And the best days are still to come. Forget what you thought you knew about this country…the phoenix is definitely rising.”

Prices in Nicaragua are still very inexpensive, but they won’t remain that way forever; Costa Rica next door is a key indicator in that regard. Vinnie’s World promotes a careful selection of projects with strong backing and clear titles, all of which provide beautiful home sites and excellent prospects for future growth. Buyers can choose from among upscale resorts to quaint retreats and receive tremendous bargains.

Through in-country cooperatives and long-standing relationships with property developers, Vinnie and his team can provide additional incentives to Vinnie’s World clients by way of travel planning, special discounts and exclusive deals on available real estate listed on their site. Visit www.vinniesworld.com for more details.

Press Media Wire: Real Estate Along Nicaragua's Pacific Coast Booming!

Published 12/11/2007 - 10:38 a.m. GMT

Pacific Coast (PressMediaWire) - Nicaragua real estate represents the best deal on Coastal and Colonial Property offered today in the Americas. The Southern Pacific region has experienced unprecedented growth over the last several years, and with the continued hype from both the Surf world, Speculators, Retirees, and publications like the New York Times, Chicago Tribune, LA Times, Miami Herald and Men’s health, this looks not likely to change anytime in the near future. Heralded as “the Next Costa Rica”, Nicaragua offers many the last chance to own an affordable piece of gorgeous beachfront real estate, just a short 2 hour flight from Miami.

Over the next 5 years 80 million Americans will retire. A recent article in Forbes found that some 10% of these individuals plan to retire overseas. The top 5 destinations for this some 8 million, to-be expatriates include Costa Rica, Panama, Mexico, Brazil, and NICARAGUA.

What does Nicaragua offer that these others do not you might ask? The answer– a cheaper cost of living, beachfront and colonial real estate at a fraction of the price, the second lowest crime rate in the western hemisphere (second only to Canada), and the best tax incentives for both retirees and business owners in all of Central America !.

Nicaragua was recently ranked Top 5 Surfing in the World by Surf Magazine. With off-shore breezes over 320 days a year, perfect reef, river mouth, beach, and point breaks, and a fraction of the crowds of neighboring Costa Rica, the Popoyo region is quickly becoming the next “Surf Mecca”!

Some Quick Facts About Nicaragua:.

Nicaragua now ranks as the #2 Safest Country in the Western Hemisphere (second only to Canada), with a murder rate per capita of 3.4 per 100,000—less than half of that of the United States or Costa Rica
The World Bank recently named Nicaragua the best investment climate in Central America.
The San Juan del Sur area has been seeing tremendous growth in property values at a rate of 30-50% annually.
Tourism has recently surpassed Coffee exportation, the countries next leading revenue resource by over $71,000,000 ($189,000,000 vs. $260,000,000 for 2006)
Ocean Front and Large Acreage properties have seen the largest rate of inflation (SJDS Beachfront has increased at a rate of nearly 100% annually).
Tourism and Foreign Investment have been steadily increasing for the last 5 years.
Stewart and First American Title Insurance now offered throughout the country
SJDS, which has already seen tremendous growth, still sits at approximately 30% of the property values of its near neighbor to the south, Costa Rica.

For more information on Nicaragua Real Estate contact RE/MAX in San Juan del Sur at US # 786-472-3161 or on the web at coastal.nicaraguaproperty.com.

Internet Travel News: Travelers seek authenticity in '08

December 11, 2007

Responsible tourism is on the increase and according to responsibletravel.com, the world's leading directory of specialist eco holidays, 2008 will see the search for true authentic travel intensify.

Destinations in Central and South America that have traditionally been perceived as 'dangerous' - such as Nicaragua, Guatemala, Honduras and Colombia - are set to soar in popularity next year, according to responsibletravel.com.

"We have already seen a remarkable 259% increase this year in the number of enquiries through responsibletravel.com for holidays and places to stay in Nicaragua, compared to last year . Guatemala too has grown by 92% and Honduras by 69%. We're also predicting an increase in popularity for Colombia in 2008 as more tour operators begin to offer trips there and people become more confident in getting 'off the beaten track' to search for that truly authentic travel experience," says Justin Francis, co-founder and managing director of responsibletravel.com.

Brazil - which experienced 95% growth on responsibletravel.com in 2007 - and Argentina, Chile and Bolivia will also continue to be destinations of choice for the responsible traveller searching for adventure and authenticity in 2008.

However, it is not just the Latin countries to watch out for. responsibletravel.com is currently working with wildlife NGO, Conservation International on projects in Madagascar and Francis believes the African island is one to watch in 2008:

" Madagascar is set to become the new Galapagos because of its high numbers of endemic species and wildlife. It has great appeal to the responsible traveller. There are some incredible community-based tourism projects opening up that are working in partnership with local people to protect long-established cultures and environments."

Other African countries such as Tanzania and Kenya, as well as Egypt and Morocco further north, have proven popular destinations with responsible travellers in 2007 and are set to remain on the increase in 2008.

The top 10 most popular destinations on responsibletravel.com in 2007 were as follows:

UK
Tanzania
Kenya
Egypt
Thailand
India
Peru
Italy
Morocco
Malaysia

Francis hopes that UK customers will continue to explore destinations closer to home in 2008:

"There are some outstanding responsible tourism projects going on here in the UK . The New Forest for example, a recent winner of our Responsible Tourism Awards is a pioneering destination. Throughout the UK , there's some fantastic farmstays and cosy B&Bs, offering travelers the chance to relax, eat local produce and explore the countryside - the perfect ingredients for a memorable short break or weekend away.".

Los Angeles Times: Dollars still go distance in some less-traveled locales

By Jason La

LOS ANGELES TIMES

December 16, 2007

Longing for an out-of-country excursion but feeling a little poor because you have only dollars in your pocket? Even with the fast-eroding value of the dollar against other currencies, you still can find international destinations where your buck goes a long way.

And you won't have to forgo choice sightseeing or comfort. All you need is a little latitude -- and longitude -- in selecting your next vacation spot.

Last year I wanted to take one long trip before I had to ease into professional life. Like many new college grads, I had little money. And even though I'm an Anglophile, the exchange rate ($1.88 to the British pound in May 2006, when I traveled), would have pummeled my savings. (The rate is even worse these days: $2.06 to the pound.) Besides, my checking account still harbored a painful dent from two months I spent in London two summers ago.

I hadn't seen enough of mainland Europe either, but I couldn't deal with the drooping dollar. I needed a destination where I could spend a month comfortably for less than $2,000.

On the recommendation of a friend, I went to Vietnam, a country where I spent the first three years of my life but that I regarded with caution because it is developing and off the radar of most Western travelers.

But at the end of my five weeks there, I didn't want to leave. It was the best vacation I've had -- and the most cost-efficient too.

On average, I spent $30 a day (or less) in Vietnam, and I wasn't living like a backpacker.

In Hanoi, Vietnam's capital, my room at the centrally located Asia Hotel had a private bathroom, air conditioning, cable TV and maid service -- for $12 a night. I spent $3 or $4 on nice dinners. I walked out of one restaurant because the entrees were more than $5.

Entertainment was inexpensive, too. At Nha Trang, a beautiful coastal city in southern Vietnam, I took a half-day cruise for about $10. Our boat made several stops and included a tasty lunch.

Access to many of Vietnam's most alluring locales, such as its pristine beaches and Halong Bay, a UNESCO World Heritage site, is free.

Although Vietnam remains a poor country, it is fairly safe and its people are friendly. Taxi drivers and shopkeepers might overcharge you, but those are the chief nuisances you'll encounter.

There are other nations that offer adventure and world-class sightseeing on a budget, although some might be undeveloped and lack the tourist infrastructure of more modern nations. Explore and stay within budget, but not at the risk of your safety. Careful research and planning should help you craft a safe, memorable trip. Check the U.S. State Department, http://www.travel.state.gov, for travel advisories before you go. Read the department's consular information sheets.

Here are five countries where tourism has yet to reach critical mass but where travelers will feel safe and find their trip well worthwhile.

Morocco

Bordering the Atlantic Ocean and Mediterranean Sea in northern Africa, Morocco has an eclectic identity that has been shaped by its location and long history. This Arab nation has many European influences because it's so close to the continent. Arabic is the official language, but French is spoken widely. Although it's a developing nation, Morocco has accessible transportation and a range of lodging and eating options to fit many budgets. With a dollar worth almost 8 Moroccan dirhams, you can easily buy meals for less than $5. Many cafes offer breakfast for about a buck.

In Tangier, you can stay at the Hotel El Muniria, whose former guests include beat writers Allen Ginsburg and Jack Kerouac. A room for two goes for less than $30 a night. You'll find comparable rates throughout the country, although the accommodations might be modest.

While in Morocco, visit one of the omnipresent markets or bazaars that are hubs for everyday life. Morocco's rugged yet scenic landscape has made it an increasingly popular destination for adventurer travelers. You can hike the High Atlas Mountains or tour the starkly beautiful dunes at the edge of the Sahara.

In Africa, Dave Herbert, managing director and founder of the tour company African Travel Inc., recommends traveling in groups.

If you want to travel independently, "Go on a tour and stay a week on your own," says Sylvia Frommer-Mracky, owner of Production Travel and Tours, based in Los Angeles.

Bolivia

Landlocked with many areas at high altitudes, Bolivia is often called the Tibet of the Americas; and, like its counterpart in Asia, it's one of the poorest countries in South America. But Bolivia is relatively peaceful and offers basic facilities for travelers, such as lodging and transportation.

"Foreigners can generally walk the streets in most areas of Bolivia's major cities without the fear of becoming a victim of violence, if they observe reasonable precautions," the Overseas Security Advisory Council, a federal committee, notes. Air travel around the country is economical and meets International Civil Aviation Organization safety standards.

Largely undiscovered by tourists outside of South America, Bolivia is a feast for the adventurous spirit as well as a respite for the embattled wallet. In the past 10 years, the dollar has increased in value almost 45 percent against the boliviano.

With the favorable exchange rate, you can find single rooms with private baths for less than $10 a night at budget hotels or stay at top-tier hotels for less than $100 a night. The Hotel Radisson Plaza in La Paz, considered an upper category hotel, has single-occupancy rooms starting at $99 a night during the high season from June to September (winter there). In London, you'd be lucky to get a private hostel room for that.

For its low prices, Bolivia has much to offer. Ancient ruins and a thriving indigenous population showcase a country that was a part of the mighty Incan empire. Bolivia is also home to the lush Amazon rain forests as well as the snow-capped Andes.

Cambodia

After decades of unrest, stability gradually has returned to Cambodia after democratic elections in 1993. Although still a poor country, it is largely peaceful, like its Southeast Asian neighbor, Vietnam. Underdeveloped Cambodia -- 66 percent of its land is forests and woodland -- attracts adventurers. The prices are similar to those you'll find in Vietnam, even a little less.

Modest meals cost about $2 to $3. Fancier meals are about $10. Expect to pay around $10 a night for a decent room, although less expensive accommodations are available. Upscale hotels cost about $50 a night. (Riels are the official currency of Cambodia, but dollars readily are accepted, so you won't have to worry about doing long division in your head.)

Cambodia's intricate temples are awe-inspiring. The most famous are the Angkor ruins, the pinnacle of Khmer architecture.

Nicaragua

Although tourism is increasing in Nicaragua, it doesn't attract as many tourists as its more popular neighbors in Central America, such as Costa Rica. The civil war ended nearly two decades ago, and "Nicaragua has become a safer destination than it was 10 years ago," says Alicia Zablocki, director of Latin American programs at Mountain Travel Sobek.

Travelers will find the country peaceful and affordable. You can get a meal of tamales or empanadas from street vendors for a buck or two, although higher-end and more expensive international fare is available in larger cities. Budget lodging goes for about $5 a night on the low end, but expect to pay more if you want features such as a private bathroom. Luxury hotels in major cities charge a fraction of the price in more popular Central American destinations.

Nicaragua's natural features are its chief assets. Large tracts of rain forest and accessible volcanoes make for breathtaking wilderness excursions.

Albania

Albania, in southeast Europe, is one of the continent's poorest countries. Isolated and communist into the 1990s, Albania is on its way to becoming a free-market economy. The U.S. State Department classifies Albania as a "high" crime country, but it notes that crime against foreigners is "rare as it is viewed as too risky." Albanians generally have a favorable view of Americans, so there's no need to wear your "I Love New York" shirts inside out.

Albania is not yet a member of the European Union, and its currency, the lek, is low against the dollar. You can find meals for less than $5, fancier fare for less than $20. Stay in dormitory-style hostels for about $20 a night.

Ruled by empires including the Roman, Byzantine and Ottoman, Albania is rich in archaeological sites. Ruins from each of the civilizations can be found in cities across the country, particularly in Apollonia, an important settlement of the Greeks. Berat, a well-preserved ancient city, boasts a medieval fortress and beautiful churches.

If you go

Tours and packages often offer some of the best deals, and if you're traveling to an unfamiliar country, knowledgeable guides generally will help you get more out of your travels and keep you out of harm's way. Here is a sampling of packages:

ALBANIA

Tour: Expedia.com, 800-551-2534, http://www.expedia.com

What's included: Flight from Los Angeles and hotel for six nights at the Tirana International Hotel in the capital

Price: $2,441 per person, double occupancy, for midweek departures in May

BOLIVIA

Tour: "Bolivia Discovery," G.A.P. Adventures, 800-708-7761, http://www.gapadventures.com

What's included: An 11-day trip, usually in groups of 10, through La Paz, Sucre, Potosi, silver mines. Includes a Jeep excursion through the Uyuni Salt Flats. Available January to August.

Price: $595 per person, double occupancy, plus $200 local fee paid to guide. Excludes air fare and some meals and activities.

CAMBODIA

Tour: "Cycle Cambodia," Intrepid Travel, 800-970-7299, http://www.intrepidtravel.com

What's included: A nine-day cycling trip through rural Cambodia. Sights include Sihanoukville, Angkor Wat's temples and colonial Phnom Penh. Includes one breakfast.

Price: $925 per person, double occupancy, plus local payment of $100. Departures in February. Excludes air fare and cycling equipment ($70).

MOROCCO

Tour: "A Mountain Biker's Dream," BikeHike Adventures, 888-805-0061, http://www.bikehike.com

What's included: A 10-day biking adventure through the Atlas Mountain ranges of the country's deep south. Includes camel ride, lodgings and two nights of camping. Some meals included.

Price: $2,299 per person for groups of four and larger; excludes air fare to Marrakech

NICARAGUA

Tour: "Nicaragua: Volcanoes, Lakes & Rainforest," Mountain Travel Sobek, 888-687-6235, http://www.mtsobek.com

What's included: Nine-day trip starts in Managua, Nicaragua's capital, and includes three days of hiking and three days of kayaking, meals, tours and equipment.

Price: $2,745 per person, double occupancy, based on six people in the group; air fare to Managua not included. Departures available for January, February and October through December.

VIETNAM

Tour: "Essential Vietnam," Adventure Center, 800-228-8747, http://www.adventurecenter.com

What's included: Ten-day tour includes visits to the Mekong Delta in the south and Hanoi in the north. Some meals included.

Price: $1,180 per person, double occupancy, plus $150 local fee; air fare not included.

The Seattle Times: In Nicaragua, 'surf' steaming volcanoes and explore colonial cities

Sun, Dec. 16, 2007

BY KRISTIN JACKSON

The Seattle Times.

LEON, Nicaragua -- With a grin and quick pace, guide Rigo Sampson led a small group of hikers up a steep trail to the top of Cerro Negro, a stark 1,300-foot-tall volcano of black cinders, sulphur-stained rock and steaming vents.

The dark volcanic cone thrusts ominously, without a speck of vegetation, out of the lush Nicaraguan plains near the city of Leon. In this Central American country laced with dozens of volcanoes, it's one of the most active: The fierce, small volcano erupted in the 1990s, spewing rocks, ash and lava and sending farmers fleeing from nearby villages and fields.

These days, Cerro Negro has become an offbeat destination for adventurous hikers who take a steep trail to the top and then ''volcano-surf'' to the bottom, leaping and sliding on their feet down a very steep side of the volcano.

Standing at the summit and peering down what seemed like an almost vertical slope, I was among eight hikers who took off, one by one, to surf on our feet through the small black cinders. ''Lean back, lean back,'' hollered Sampson as we struggled at first to find our balance, sometimes sinking shin-deep in the cinders in what felt like a wacky, tropical version of snowboarding.

It had taken us an hour to hike up to the crater's barren, windswept summit; in 10 minutes of exhilarating volcano-surfing we bounded and slid back to the bottom. Sampson, a 38-year-old avid outdoorsman (and medical doctor, handy when one ''surfer'' tumbled and scraped her leg), zoomed down in less than five minutes.

''Volcano-surfing'' isn't what most Americans associate with Nicaragua. Instead, what lingers are images of poverty and civil war, and of the left-wing Sandinistas battling the U.S.-funded Contra insurgents in the 1980s.

Sandinista leader Daniel Ortega, who led Nicaragua through the overthrow of the Somoza military dictatorship and the war against the Contras, is back in power, elected last year as president. He's now 61 and much less of a revolutionary Marxist: Since a 1990 peace deal, impoverished Nicaragua has opened its doors to capitalism, foreign investment and tourism, spurring economic development that Ortega doesn't want to lose.

Tourism is growing fast, thanks to Nicaragua's dramatic landscape of verdant jungle, steaming volcanoes, white-sand beaches and Spanish-colonial cities dotted with centuries-old churches. With the neighboring, and prosperous, country of Costa Rica an example of how lucrative eco-tourism can be, Nicaragua is trying hard to protect its natural beauty, creating national parks and nature reserves and struggling to curb the logging of tropical forests.

Latin Americans and Western Europeans have been visiting Nicaragua for years, lured by a more-adventurous and less-touristy experience than Costa Rica. Americans were slower to arrive, but about 60,000 now visit each year, according to the U.S. State Department. U.S. investors are snapping up beachfront land on Pacific beaches and colonial-style homes in the cities of Granada and Leon.

It's tourism in the rough, however, outside the major cities and the sun-and-rum beach town of San Juan del Sur. Nicaragua, one of the poorer countries in the Western Hemisphere, doesn't have the efficient infrastructure of Costa Rica, its southern neighbor and Central America's tourism giant.

Roads, with the exception of the relatively well-maintained Pan-American Highway that traverses Nicaragua, can be riddled with axle-busting potholes and wandering livestock. Oxen, pigs, horses and chickens saunter among cars and the tiny tin-roofed, dirt-floored homes that edge the roads.

Electrical blackouts are common because of the desperately overloaded power grid; on my 10-day July visit, the power went out almost every other day, sometimes for hours (some hotels and restaurants have their own generators). Public transport is on jammed, rattling buses, most of them old American school buses, still the familiar bright yellow, but with religious sayings -- ''God is with us'' -- and portraits of the Virgin Mary emblazoned on the windshields. Only a foolhardy tourist would drink the tap water.

The upside? As long as you bring your patience, a sense of humor and a good flashlight, Nicaragua is an enticing place to travel, with remarkably courteous locals who aren't yet jaded by too many tourists. And it's inexpensive. A (very basic) room can be found for $10-$15 a night almost anywhere. A comfortable beachside cabin on the idyllic island of Ometepe is $50. A sprawling, luxurious two-bedroom vacation house (with giant TVs, American-style kitchen, icy air conditioning and pools and gardens all around) at the Piedras y Olas resort in San Juan del Sur starts at about $170 a night. The San Juan del Sur area is where the Americans are; glorious Pacific beaches lure surfers, retirees and property investors, with for-sale real-estate signs everywhere.

Hot and dusty after surfing down Cerro Negro volcano, we would have welcomed a cold shower. Instead, we drove deserted, rutted dirt roads, passing a few tiny farms and men on horseback, and hiked for a half-hour to something far better -- a hidden, tranquil lake in the crater of another volcano.

Called Laguna de Asososca, the bathtub-warm lake sits hundreds of feet down in a crater, encircled by steep slopes cloaked in trees. There wasn't a building for miles or a sound except our laughter as we swam in the half-mile-wide lake, nicknamed Laguna del Tigre after the jaguars that once prowled its shores. Another volcano loomed above, vapor drifting from a rift high on its greenery-coated flank.

''It's beautiful. I swam about halfway across and just floated around in the middle with no one around me,'' said Andrea Dudek, a 40-year-old hiker from Austin, Texas.

Sampson, our guide, has been coming to the lake since he was a child. His father was born on a small farm in the area; the family sheltered there at times when fierce fighting between Sandinistas and the Somoza regime racked the streets of their hometown Leon.

''I remember 1978 in Leon, the sound of bombs and heavy machine guns, barricades in every street,'' said Sampson, an outdoors guide and medical doctor.

Leon is peaceful now, a city of almost 200,000 with a university, colleges and a centuries-long tradition of liberal politics, including support of the Sandinistas. It was home to Ruben Dario, a beloved 19th-century poet who's a national hero in literary-minded Nicaragua.

Small museums and murals in Leon honor the Sandinistas and the poet Dario. But one of the true pleasures of the city is to wander the narrow streets or sit in the square in front of the ornate 18th-century cathedral, the largest in Central America, after the torrid heat of the day passes.

High up in the church tower, a cassocked bell ringer tugs on a rope, clanging the massive bell for Mass. Down in the square, an ice-cream vendor slowly pedals his bicycle cart among the local families, ringing his tiny handlebar bell. Kids clamor for ice cream; their mothers sip another street vendor's product, fresh-squeezed fruit juice and ice served in a plastic bag with a straw.

As night falls over the back streets, elderly ladies drag their wooden rocking chairs out of their one-story houses onto the sidewalk. They sit, rocking and talking in the inky, warm darkness and kindly giving lost foreigners, like me and my daughter, directions to a restaurant.

As we walked back after our dinner, the ladies were still there, rocking away as a TV soap opera blared from their house and swaggering teenagers kicked a soccer ball down the street. ''Did you eat well?,'' asked the ladies. Yes, we nodded, and chatted about where we were from, where we were going. As we left, they called out ''Buen viaje'' -- have a good trip. That was easy in Nicaragua.

NICARAGUA BASICS.

Size: The biggest country in Central America at about 50,000 square miles.

Population: About 5.7 million.

Income: Annual income is roughly $900 per person; some Nicaraguans live on a few dollars a day. The economy remains primarily agricultural, although manufacturing is increasing and tourism is growing and promoted by the government.

History: Nicaragua's Pacific coast was settled as a Spanish colony in the 1500s; cities such as Leon and Granada were founded then. Britain occupied the Caribbean coast in the early 1800s. In modern times, widespread rebellion against the long-running Somoza dictatorship resulted in a civil war in 1979 that brought the Sandinistas to power. The U.S. sponsored anti-Sandinista Contra guerrillas in the 1980s. Peace and democratic elections came by 1990.

Language: Spanish, with English spoken on the Caribbean coast. English is spoken at better hotels and restaurants in cities including the capital city of Managua, Granada, Leon and San Juan del Sur.

Religion: Roman Catholic, but evangelical Protestant churches are growing fast, with American missionaries fanning out through Nicaragua.

TRAVELER'S TIPS.

• The U.S. dollar is widely used in Nicaragua, although the official currency is the cordoba.

• Travelers should take precautions against mosquitoes, which can transmit malaria.

• While Nicaragua's crime rate is low compared to nearby El Salvador, travelers should beware of street crime in the capital of Managua, particularly in markets, and aboard crowded buses.

IF YOU GO.

• Where: Cerro Negro volcano is about 18 miles from Leon, much of it on dirt roads. A high-clearance vehicle is useful, and it's best to have a guide to explore it and Laguna del Tigre (reached via private farmland).

Where to stay: In Leon, lodging ranges from backpacker hostels to hotels in restored Spanish-colonial style buildings. One of the nicest hotels is El Convento, a reconstruction of a former convent that adjoins a 17th-century church. The one-story hotel's simple but comfortable rooms surround a courtyard garden, and its tile-floored corridors are lined with Nicaraguan art, from centuries-old ceramics to contemporary paintings. A double room is about $85 a night, including breakfast in the hotel's patio restaurant. www.hotelelconvento.com.ni/english/ or (011-505) 311 7053.

When to go: Nicaragua is a tropical climate and hot year-round. Temperatures along the Pacific side -- where the major cities and popular beaches are located -- are in the 80s and 90s. The rainy season (''winter'' in Nicaragua) goes from roughly May to October; the dry summer season is November to April. During my July visit, there were only brief rainstorms.

Information: The Web site www.vianica.com, run in cooperation with Nicaraguan tourism offices, has extensive information on visiting Nicaragua. The U.S. State Department has advice on traveling in Nicaragua at www.travel.state.gov.

GUIDES.

I went with Leon-based guide Rigo Sampson, who works with local and foreign tour companies. Among the companies offering Cerro Negro hikes:.

• Tours Nicaragua, www.toursnicaragua.com, is a well-established Managua-based company that offers multiday tours throughout the country, including to Leon and Cerro Negro.

• Quetzaltrekkers is a nonprofit group based in Leon that offers day hikes of Cerro Negro and other volcanoes; its earnings support street kids. www.quetzaltrekkers.com/nichome.html.

• REI Adventures offers a 10-day, outdoors-oriented tour of Nicaragua that includes hiking Cerro Negro and other volcanoes; www.reiadventures.com or 800-622-2236.

• Las Pilas-El Hoyo Rural Tourism Cooperative manages the Cerro Negro natural reserve. With advance notice, guided hikes and horseback trips can be arranged through the group. Email: laspilaselhoyoleonyahoo.com.

• Other tour companies can be contacted through Leon hotels (some hikers use wood boards for ''surfing'' Cerro Negro).

Baltimore Sun Travel Features: A journey homeward to Nicaragua

Family rediscovers charms of a sometimes-overlooked land.

By Martha Phifer

Orlando Sentinel Staff Writer

Comparisons are rarely fair. Most often, they hinder a person's ability to see things for what they are.

Few question Costa Rica's reputation as Central America's hottest destination -- attracting more than 1 million tourists a year who are captivated by its natural beauty and year-round moderate temperatures.

But north of its border lies the region's largest country, where tourism is quietly, yet steadily booming. Nicaragua has managed to sneak into "hot-destination" guides as a must-visit location. And it should: Nicaragua's history, beauty and cultural identity are worth experiencing, regardless of -- and because of -- the country's differences or similarities to its neighbor.

My family left Nicaragua in the early 1980s after the fall of the Somoza regime, and though we visited on two occasions, the country's unstable political and economic conditions didn't allow for much touring. Now that the country has seen a period of relative stability, it was time for this much-anticipated fresh encounter.

With an entourage that included my husband and some relatives, we made our first stop in Managua, Nicaragua's capital and largest city. Contrary to popular belief, Managua is more than people, noise and debris; rather, it's a mecca for commerce, transportation, finance and manufacturing.

Sadly, Managua hasn't fully recovered from two earthquakes that devastated its central region, leaving behind vacant, decrepit buildings. As a result, most subsequent growth has been along the outskirts of the center, though the original National and Fine Arts palaces and the Government House survived and serve as major cultural and educational venues.

As in most big cities, crime finds ways to thrive. Add to that deep poverty, daily power and water outages, unnamed streets and unpaved roads, and it's clear visitors should use common sense. Nevertheless, restaurants, nightclubs, shopping and hospitable people made our stay pleasant.

Our one night at the luxurious Intercontinental Real Metrocentro Hotel, built on a hill near a lakeshore that harbors a volcanic lagoon, can make you forget you are in the second-poorest nation in the Western Hemisphere.

But not for long. Begging children, shacks with tin roofs and dirt floors, and the inflation rate are constant reminders of what so many of us in America take for granted.

Stay away from the simians

Our next stop was the colonial city of Granada. With lakeside cobblestone streets and historic Spanish-style buildings, its architectural heritage is undeniable. Las Isletas, an archipelago of 365 tiny volcanic islands on Lake Cocibolca, is one of the most popular destinations. During our ferryboat ride through the islands, we saw children bathing, fishing and playing in nature's wonders. The common-sense approach I'm such a proponent of slipped our minds, and, as we approached a small wild monkey colony on one of the isles, we reached out to touch them. Had we gotten any closer, they might have jumped into our ferry or tipped it over.

More prudently, we opted for the relatively safer activities of swimming and eating.

The next morning, we headed for Mirador de Catarina, situated on one of the highest hills surrounding the Laguna de Apoyo, Nicaragua's biggest lagoon. The town, famous for its breathtaking views of the lagoon, Mombacho Volcano and Lake Nicaragua, is a magnet for street musicians and vendors. At this busy yet relaxing spot, we ate carne asada with gallopinto (charbroiled beef served with rice and beans) and raspados (snow cones). We also enjoyed horseback riding through the lush landscape and shopping for locally produced handicrafts.

Catarina also is known for its fertile soil and exotic nurseries. For a close-up view of the lagoon, a 30-minute drive around the hill led us to its shore, home of the Norome Resort and Villas. This high-end resort offers bar and restaurant services under the shade of green trees.

Visit Bluefields in May

At the south end of Nicaragua's Atlantic coast, you might think you are in a different country. An hourlong and costly ($200) flight from Managua took us to Nicaragua's Caribbean port, Bluefields, home to six ethnic groups including Mestizos and blacks, and four languages, including Spanish and English Creole.

As a region once colonized by Britain, the melting pot of cultures is a unique experience. But with little to see or do here, we circumvented the small town in a cab and ran into a gang of 20 children practicing for an upcoming band performance using sticks and empty bottles and cans as drums. We were told that May is the best time to visit, for the Palo de Mayo festival, an old Afro-Caribbean dance that forms part of the African traditions of the town.

The real appeal at Bluefields is the surrounding ecological attractions, and its proximity to Little Corn Island, and our next destination: Big Corn Island.

A 20-minute plane ride took us to Big Corn Island, an unexplored paradise of white sandy beaches, crystal clear water and coral reefs. Snorkeling, kayaking, swimming and sunbathing were some of the highlights of our stay at Arenas Beach Resort, located on Southwest Bay. We took advantage of the island's commercial lobster and shrimp fishing and ate some of the best and cheapest seafood we had ever had. In a rented golf cart, we toured the entire island while enjoying a Caribbean breeze.

We ended our journey on Nicaragua's most popular beach resort, Barcelo Montelimar & Casino. Here you can enjoy not only stunning beaches along the Pacific coast, but also many of the finest amenities that can be found in modern hotels. The long stretch of beaches includes Masachapa and Pochomil. The beaches' waves and currents are so strong that stories abound of people who have been carried out to sea.

It was here where I reflected on our 12-day trip. Our stay was not free of complications. We were hot. After several hours without running water or electricity, some days were hard to get through. We got sick. There's no telling what did it, but we all were afflicted by gastrointestinal discomfort.

Of course, we got frustrated. After years of living in America, we've become accustomed to a fast-paced and technologically advanced lifestyle. Nicaragua's infrastructure just doesn't compare.

But, then again, it's not supposed to.

Getting around:

Rent a car online, at the Managua airport (MGA) or in the city. Cabs and buses run all day in every direction. You also can hire a cab or rent a car with a chauffeur from privately owned businesses. This reduces your chances of getting lost -- streets are not named or numbered.

Staying there:

The possibilities are wide ranging. You can find a hostel for as low as $10 per night and higher-end hotels are available in certain cities. Beware that there is an extra charge for local calls and Internet access, and different phone rates apply when calling landlines or cell phones.

In Managua, Intercontinental Real Metrocentro is about $160 per night, but the hotel offers reduced rates as low as $89 per night at certain times. Locals call it the best hotel in Managua, intercontinental.com. Los Robles is about $95 per night and offers free Internet access, hotellosrobles.com. Best Western, Las Mercedes, is $72 per night and is across the street from the airport, bestwestern.com.

In Granada, La Gran Francia is popular and starts at $90, lagranfrancia.com.

In Bluefields, Oasis Hotel-Casino is considered the best hotel in the city. It has limited vacancy and was full during my trip. Rooms start at $60 per night, oasishotelcasino.net.

In Corn Island, we stayed at Arenas Beach Resort, arguably the best in town. Rooms or bungalows start at $90 per night. It's on the beach at Southwest Bay; arenasbeachhotel.com or bigcornisland.com.

Dining:

Gallopinto (rice and beans), fried white cheese, tostones (fried green plantains) and corn tortillas are part of every meal. Other options include whole fried fish; vigoron (pickled cabbage, tomatoes and onions with yucca and fried pork skins, served on banana leaves); quesillos (cream and boiled white cheese wrapped in warm corn tortillas); and conchas negras (black conch). Fritangas, outdoor cookouts that serve typical dishes, are everywhere after 3 p.m. Beware that because they are outdoor, the possibility of tainted food is high.

Money:

You'll find ATMs in all major cities, and airport ATMs offer dollars. One dollar converts to about 18.5 cordobas (subject to change), although dollars are widely used.

Information:

You can visit the Nicaragua Tourism Board at intur.gob.ni, but it's in Spanish. A good English Web site is nicaragua.com. Though passports are needed, American citizens do not need a visa to enter Nicaragua.

MSN.com: Crazy, sexy travel of 2007

It was a good year for oddballs and romance-seekers alike

By Forbes Traveler staff

December 18, 2007.

Despite a sluggish economy and a weakened dollar, Americans didn’t forsake their love for travel in 2007. Whether it was a long weekend at the beach or a two-week retreat on a misty mountaintop, many of us hit the road as often as possible—fuel costs be damned. And thanks to Web sites and travel agents who cater to customers with quirky tastes, there was no shortage of unusual destinations and activities for those with the will—and the wallet.

Fading are the days of simple beach volleyball and a lazily flung Frisbee. Today’s outdoor enthusiasts want to surf volcanoes in Nicaragua, shred standing waves in the Amazon and sledge whitewater in New Zealand. We highlighted those adventures, and more, in our round-up of the world’s scariest sports.

After a few days of bone-breaking, back-bruising thrills, it’s time for pampering. But no daredevil volcano-surfer would be caught dead under a seaweed wrap and mud mask. This year’s stand-out spas offered facials using nightingale droppings (Maui), therapeutic beer baths (the Czech Republic) and a weird toe therapy called perscentoelogy. That’s not the half of it—we profiled half a dozen more surreal services in our bizarre spa treatments feature.

Not everyone’s looking for the crazy when they travel. There’s also the sexy, and 2007 saw no shortage of romantic getaways, secluded sunsets and sultry sojourns to faraway lands. Throughout the year, we presented the world’s hottest honeymoon hotspots, most romantic beaches and sexiest hotels. If you’re not content to sip no-name champagne in a heart-shaped tub at a cheap motel, these are the places for you.

Every newlywed couple should consider a trip to French Polynesia, where the Hotel Bora Bora offers a three-night Honeymoon Escape package complete with en-suite meals, catamaran cruises and couples’ spa treatments. Or, out in the middle of another ocean—the Indian Ocean—there’s the Seychelles, one of world’s most romantic destinations. Though the weather is tropical year-round, the best months for swimming and snorkeling are April, May, October and November; sailors should plan their trip between May and October.

Closer to home—and a bit further from the water—there’s the Post Ranch Inn, in Big Sur, Calif., one of Forbes Traveler’s 12 sexiest hotels of 2007. While we’d never turn down a night at the classics such as the Hotel Bel-Air in Los Angeles or New York’s Gramercy Park Hotel, there’s something about the Inn’s seclusion that motivates us to skip rooftop pools in favor of treetop luxury.

Then there’s the pleasure factor. As profiled in our outrageous hotel perks feature, the Drake Hotel in Toronto offers an à la carte menu that’s filled not with snacks and beverages, but erotic toys and adult DVDs. If that’s your thing, consider also a trip to the Forty Deuce, one of our 10 sexiest revues in Las Vegas. Named for one of New York City’s most infamous (and long gone) go-go clubs, this R-rated room in the Mandalay Bay is strictly an adults-only affair.

Whether it’s wacky sports around the world, or secluded sunsets in a lost paradise, 2007 was a year of unusual outings, outrageous amenities and sexy escapes. If you knew where to look, that is.

Forbes Traveler: World's Scariest Sports

Lena Katz

Mon Nov 19 13:30:00 EST 2007

Perilous sports from volcano surfing to running bulls.

“When you run the bulls in Pamplona, the point is not to race them—it’s to catch them, to face them as long as you can.”

So says 61-year-old Spaniard Carlos Gil, and he should know. Gil has been running the bulls since the age of 18, and has seen the event evolve from a unique local tradition into the world-famous televised spectacle it has become. Whereas young Americans or Europeans might run once or twice—thereby earning a lifetime of bragging rights back home—Gil runs each of the eight mornings of el encierro (literally, “the enclosing") during the Festival of San Fermin in Navarre, Spain, every year. He has run every section of the half-mile itinerary—from the exciting first sprint, through the crowded cobblestone midway, to the final exhilarating stretch leading into the bullring.

Of all the thrilling components of the Pamplona run, Gil’s favorite is that first moment—which takes place just 150 yards away from the stable where the bulls sleep.

“When we hear that first firecracker,” Gil explains, “it means the first bull has left the stable, and we start moving forward. When we hear the second, it means the last has left. I wait and count about 8 seconds. Then I turn around, and usually the bulls are there.”

Gil has been running with the same group of locals for decades. Armed with only a newspaper to distract one of the beasts in the event of a catastrophe, they run in place in the middle of the street until the bull is just a yard or two away--before diving to one side, away from the animal’s horns and hooves.

Meanwhile, spectators from all over the world line the streets and pack the bullring, cheering on friends and screaming warnings to the runners in the greatest peril.

Pamplona’s Running of the Bulls is just one of several high-adrenaline spectacles that have begun to draw onlookers and participants from among the world’s highest income brackets. The dual thrills of cultural discovery and physical danger prove irresistible to alpha-level achievers who thrive on risk.

And then there's elephant polo, a more genteel variation on the traditional sport of equestrian polo and one that's played in India and Southeast Asia. Naturally, elephants are a lot slower than horses; so that means the matches are more about pageantry and fun than actual competition.

“Elephant Polo has historically been one of India’s ultimate royal experiences,” says luxury tour operator Kim Mitchell of Asia TransPacific Journeys. “The colossal size of the elephant--its playful antics, graceful gait and the wisdom of its eyes--move all who are lucky enough to take part in this event.”

Mitchell often brings guests to the polo fields, either to play or to watch. “You can do the whole white-glove, champagne, hors d’oeuvres thing. There’s betting going on, and it takes place on the grounds of an old palace.”

Of course, most extreme sports competitions take place in extreme conditions, without the benefit of a roof or stadium seating for audience members. Take, for example, the SCORE Baja 1000, an off-road race (featuring all manner of engine-blasting vehicles, from motorcyles to VWs to buggies) that traverses the entire length of the Baja Peninsula. The race takes an entire week to run, but spectators mainly flock to the finish line, located just outside of Cabo San Lucas.

Then there’s the downright perilous sports--like cliff diving. So dangerous that it’s rarely sponsored by a company or sanctioned by a governing body, cliff diving is nonetheless one of the most exciting sports to witness, even if your vantage point is set hundreds of feet back from the action.

The divers of La Quebrada in Acapulco are arguably the sports most celebrated stars. For more than six decades, these daredevil human missiles have wowed tourists with their graceful--and incredibly dangerous--freefall descents. From cliffs nearly 150 feet high, the divers plummet into the sea, often performing flips or other tricks on the trip down.

Competitive free diving, meanwhile, is one of the world’s most controversial sports, due to the unnatural physical extremes under which divers put their bodies. Participants regularly plunge to depths of 400 or 500 feet, holding a single breath for as long as three to four minutes. Spectators at a free diving competition accompany the competitors in a boat to the dive site. Once there, two viewing options are available: Either snorkel on the surface and watch as the divers disappear into the murky depths (“the cheap seats”), or scuba dive 50 to 75 feet below, and witness the action from a fish-eye’s view (“front row” seats).

A more conventional--but no less precarious-- water sport is white-water rafting, which under the best of conditions is still a true adventure. But for those who participate in the biennial World Rafting Championships, it can be either reputation-making or bone-breaking. Each championship is held at a location so dangerous, that a typical weekend white-water-rafter wouldn’t even think of wading into the river. In 2007, the competition took place in Korea’s daunting Naerinchon River. Previous years’ events were held in similarly brutal waterways in South America.

Chile, with its geographical and climatic extremes, is ideally suited to extreme sports of all kinds; and it is the self-anointed “birthplace of sand skiing.” This sport, which originated in the country’s Atacama Desert, takes place on sand dunes instead of ski slopes, and in 100-degree heat instead of below-zero chill.

Nicaragua, country of countless volcanoes, has recently one-upped Chile with a new, highly specialized activity known as “volcano surfing” or “ash boarding.” Participants spend an hour hiking to the summit of the 1200-foot Cerro Negro; then they soar down on a “sandboard”--a snowboard that has been adapted for the ash, sand and cinder surface of the volcano.

“The slope of the mountainside is 40 degrees-- perfect for a good speed,” says Pierre Gedeon of Nicaragua Adventures, who was among the first to introduce volcano surfing to the public. Gedeon originally tried to navigate the rocky drops with skis, but switched to the adapted board because he found it easier for casual athletes to manage.

“The maximum speed is 25 miles an hour,” he says, “and we have even done it in the active crater. But we can’t seem to bring people--it’s too dangerous.”

For now. By 2009, it may be a whole different story--that is, if the new breed of thrill-seeking travelers has anything to say about it.

Back to main Nica Newsletter

Go back to top

To read complete Newsletter:

HTML: Click here

Gran Pacifica Resort Nicaragua Real Estate Investment: Beachfront Condos and Homes. Golf and Surf. Sales and Rentals.

Nica - Newsletter

January 2008

Issue: 2008 - 01

Table of Contents

Nicaraguan News Archive