Making strong investments on tourism under adverse economic conditions that affect the present market is seen as not a very good option. It is wise to save, capitalize and look for ways to clear any outstanding debts. Those recommendations were issued at a forum held by the 'Chamber of Hotels' with the aim of averting the possible implications of the crisis on the international tourism industry.
The situation facing the United States, which is the country that we get most visitors from, will reflect negatively on the levels of visitation and generation of foreign exchange and higher taxes, said Allan Rodriguez general manager of CFS Investment Advisors. The outlook suggests that there will be a decline in the economy in the upcoming years, which will force the industry to diversify in order to curve the temporary economic situation.
The U.S. consumer expenditure has been falling since June this year, and its effects are expected to be measured in the short term," said Erick Campos, managing director of 'Fitch Ratings'.
For Campos, this is the time when tourism businesses should consider various scenarios or alternatives in order to confront this crisis. These measures were supported by some businessmen, who expressed the need to care for the cash flow and invest in savings programs.
We have to make decisions now, which do not imply lowering tariffs because such actions do not guarantee an increase in volume," said Manuel Rodriguez, president of the Union of Chambers.
Although the international economy lives in difficult times, the tourism sector plans to close the year with a growth of 10%. The actions being undertaken are focused on promoting the country in new destinations such as Mexico and South America.
This projected investment is committing S20 million for next year which is a record for the `Instituto Costarricense de Turismo' (ICT), said in this regard Tourism Minister, Carlos Ricardo Benavides.
