Tourism Economics and Discover Puerto Rico confirmed spending from off-island visitors exceeds the pre-pandemic high by 11%.
Foundation for Puerto Rico presented Thursday its strategic vision to develop the island’s visitor economy as the first step toward the island’s economic transformation within the next five years.
The Bahamas is still trying to get back on its feet ever since last year’s Baha Mar scandal, in which a $3.5 billion mega-resort on Nassau’s Cable Beach largely financed by China’s Export-Import Bank shut its doors and declare bankruptcy even before opening.
An important part of the local economy, and the only one showing growth, tourism represents a great opportunity for growth in the short and medium term for Puerto Rico, according to the findings of a study released by the Foundation for Puerto Rico Wednesday.
Puerto Rico has a great opportunity and can be a powerful competitor in global tourism but it has a way to go to reach those goals, as it must first become a stronger player in the island’s economic development, where it only represents between 6 percent and 8 percent of the overall activity.
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