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Nicaragua ready to stand out at Expo Yeosu
Nicaragua will be participating in the International Expo Yeosu Korea 2012, which will be held from May 12th through August 12th, with the objective of promoting the country as an up-and-coming tourism and investment destination.
During the expo, Nicaragua will have a booth (Atlantic West Pavilion #1-61), whose theme is “Land of Lakes and Volcanoes” and which highlights the country’s breathtaking scenery, rich natural resources, historical landmarks, cultural heritage and main export products. At the booth, visitors will be greeted by country representatives and will have the opportunity to acquire Nicaraguan handicrafts, view videos of the country’s top tourism destinations and obtain useful country information.
The country will also be hosting its national day on Wednesday, May 30th, during which participants will be able to enjoy national folkloric dances and receive traditional gifts, getting a sense of the country’s vibrant culture. Government representatives will be visiting the expo site, including General Álvaro Baltodano, Presidential Delegate for Investments, and Javier Chamorro Rubiales, Executive Director of PRONicaragua, the official investment promotion agency of Nicaragua.
Nicaragua, with its high levels of personal safety, pleasant climate, high international connectivity, diverse tourism product and fiscal benefits, was proclaimed as one of the world’s top retirement havens for 2011 in U.S. News & World Report’s Money section, highlighting the country’s very low cost of living, combined with realistic pricing for real estate, including beachfront property along the Pacific Ocean. International Living’s website also included Nicaragua in the ranking of the five towns where you can “live better for less”, highlighting Granada as the ultimate retirement hotspot.
In terms of economic performance, Nicaragua has been showing very positive figures in recent years. In 2011, Nicaragua’s gross domestic product (GDP) grew by 4.7 percent, holding the highest GDP growth in the Central American region for second consecutive year. The country’s total exports, including free zone, grew by 25 percent in 2011, reaching nearly US$4,300 million. In turn, foreign investment reached a new record high in 2011, registering US$968 million, a growth of 91 percent when compared to 2010. These results were due mainly to the country’s sound economic policies, an open dialogue between the Government of Nicaragua and the private sector, a solid legal framework and investor’s confidence in the country’s potential for development.