New construction in tourism industry – signs of recovery or misplaced optimism?

The whole of Central America has been affected by the global downturn. One of the industries effected most has been tourism, and while many construction and expansion projects were planned during the heady days of 2007 and early 2008, the region may now be facing a huge oversupply problem in terms of hotel accommodation, although there are signs of light on the horizon.

In 2006, the Tourism Ministers of various countries in the region came together at San Ramon for a conference and told Central American news providers that the tourism industry for the region as whole had grown by an average of 11%, which account for, on average, 5% of the region’s GDP for that year, in addition, there was astounding growth in the number of European tourists travelling to Central America, a 147% increase in fact. Read more

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