Thursday 17 June 2021

Growing Opposition To Tourism Industry Subsidies

201505132157390.ABRIDORA-2(

QCOSTARICA) There is growing opposition to a plan to subsidize the tourism industry using money from the Instituto Costarricense de Turismo (ICT) – tourism board – and the Development Bank.

The plan, currently in the legislative process, would take US$15 million dollars from state resources (like the ICT) to readjust the debts of a number of small and medium sized tourism businesses (Pymes in Spanish), hit by the 2009 crisis.

- Advertisement -

The opposition to the plan includes President Luis Guillermo Solis, a number of legislators and hotel operators.

The concern is that the plan would create a new bureaucracy at a time of austerity.

President Solis withdrew his support for the plan earlier this week.  He said that it would be counterproductive to use the funds of the ICT and Banco de Desarrollo (Development Bank) for reason different that their initial intent.

Several tourism entrepreneurs opposing the plan say it is a project without proper analysis. Rather, they say the industry needs to create more Pymes and to continue the ICT’s successful campaign to attract more visitors, especially from markets such as China, Russia and Brazil.

- Advertisement -

Legislators Otton Solis (PAC), Otto Guevara (Movimiento Libertario) and Mario Redondo (PUSC) are part of a number of legislators rejecting the plan. “If we open this door, it is not surprising that at any moment wants to reuse this mechanism,” Redondo said.

A point being made by the opposition is that the ICT money will not come from a surplus, rather from the operating budget of the institution.

The plan, if approved, would allow tourism sector businesses that acquired debt between 2004 and 2008 and still carrying it today or facing judicial collection, to borrow at an interest rate of less than 4% and/or have their debts written off by the fund.

Source: Larepublica.net

- Advertisement -

FACT CHECK:
We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

Ricohttp://www.theqmedia.com
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Cynthia Ann Telles named new U.S. Ambassador to Costa Rica

QCOSTARICA - Today, U.S. President Joe Biden announced his nomination of...

Simple to request certification of vaccines against covid-19 applied in Costa Rica and abroad

QCOSTARICA - The Ministry of Health issued a new guideline on...

MOST READ

Simple to request certification of vaccines against covid-19 applied in Costa Rica and abroad

QCOSTARICA - The Ministry of Health issued a new guideline on Thursday that establishes the requirements to request the vaccination certificate against covid-19 in...

Today’s Vehicle Restriction June 17: 7 & 8 CANNOT circulate

Today, Thursday, June 17, vehicles with plates ending 7 & 8 CANNOT circulate The measure is countrywide and applied between 5:00 am and 9:00 pm,...

Central America is back in the news for the wrong reasons, Costa Rica is once again the exception

QCOSTARICA - Osta Rica has been the epicenter of regional diplomacy in recent days. The successive visits of the Secretary of State of the...

New Television Program To Promote Family Fun

Q ENTERTAINMENT - Attention families of Costa Rica! A new contest program, led by Douglas Sánchez and Verónica González, is looking for participants who...

Your cell phone can now notify you if you had contact with a positive case of covid-19

QCOSTARICA - Fifteen months after the national emergency against covid-19 was declared, Costa Ricans will have a digital platform where you can be notified...

Informants assisted OIJ in corruption investigations, says the minister

QCOSTARICA - The investigation into alleged bribery of public officials in exchange for contracts for road works, received help from informants within the Consejo...

Vaccine Tourism – A Practical Guide

By Amy Gdala, Guest Contributor - The US has a surplus of vaccines, while Costa Rica is struggling to supply sufficient numbers to citizens...

Cynthia Ann Telles named new U.S. Ambassador to Costa Rica

QCOSTARICA - Today, U.S. President Joe Biden announced his nomination of Dr. Cynthia Ann Telles as United States ambassador to Costa Rica. According to the...

Heavy downpours generated the first phreatic eruption of this year at the Turrialba volcano

QCOSTARICA - Several residents of La Pastora, La Central and Monte Calas, in the vicinity of the Turrialba volcano, heard a loud rumbling early...

WANT TO STAY UP TO DATE WITH THE LATEST!

Get our daily newsletter with the latest posts directly in your mailbox. Click on the subscribe and fill out the form. It's that simple!

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.