Panama Tourism is short of funds

1,766Views 0Comments Posted 01/03/2024

Tourism, a sector that all presidential candidates are betting on to replace the income from the activity generated by Minera Panama, does not have the resources that correspond to it by law in 2024 to be able to attract international visitors reports La Prensa.

The Tourism Promotion Fund (Promtur) should have been allocated $20 million each year, but after the 2024 budget adjustments this entity was left with only $10 million. And the money that is needed would be sought via supplemental credit because a reserve was not generated.

The Tourism Authority of Panama (ATP) announced that it will request the Cabinet Council to manage a supplementary credit to the ATP's fiscal year 2024 budget, to complete the $10 million tranche required by the Tourism Promotion Fund (Promtur).

Due to the budget cut, Promtur's resources were reduced by 50%, but the tourism sector and business associations have pointed out the need to respect the provisions of Law 9 of 2017 to give continuity to the promotion and not lose the work that was done in recent years to attract tourists.