print

Country Report

Travel and Tourism in Nicaragua

| Pages: 22

Price: US$600

About this Report

EXECUTIVE SUMMARY

Tourism industry has mixed opinions of Nicaragua’s Grand Canal project

With the backing of China and Russia, the Nicaraguan government is expected to begin construction of the US$40 billion Nicaragua Canal in late 2014. The 286 kilometre canal will connect the Caribbean and Pacific coasts of Nicaragua, traversing Lake Nicaragua along the way, and will directly compete with the Panama Canal in shipping. The canal is expected to bring overall economic growth to the country, but many fear that it will negatively affect the tourism industry. For example, visitors may be deterred by the large-scale construction of the project, which will create an unattractive landscape, noise and traffic. After the canal is completed, the presence of large ships in Lake Nicaragua, where the popular tourist spot, Isla de Ometepe, is located, may deter visitors. Furthermore, the canal may pollute and damage delicate ecosystems in Lake Nicaragua and protected rainforests, preventing development of eco-tourism. However, some argue that the canal may be a significant tourist attraction similar to the Panama Canal, where its main visitor centre in Miraflores, receives almost 800,000 visitors annually.

Lack of bilingual workforce inhibits Nicaragua tourism growth

The US is Nicaragua’s second leading source country after Honduras, accounting for 21% of visitors in 2013. According to the Instituto Nicaragüense de Turismo, (INTUR), the US, Canada and Europe combined accounted for 30% share of arrivals to the country in 2013. Furthermore, many visitors from European countries do not expect employees to speak their language and therefore default to using English. For this reason, demand for bilingual travel retail employees and accommodation and foodservice staff is high. However, the Asociación de Turoperadoras Turísticas de Nicaragua estimates that less than 25% of total tour guides are proficient in English, while the Asociacion de Pequeños Hoteles de Nicaragua (HOPEN) notes that less than half of those who apply for jobs in hotels or foodservice can confidently speak English. Not only are some potential visitors hesitant to visit the country due to the lack of bilingual services but businesses also face higher costs due to the scarcity of bilingual employees, who charge premium for their services. As a result, some industry stakeholders argue that those who attend university tourism or hospitality programs require basic proficiency in English to graduate.

Nicaragua seeks greater tourism expenditure via high-end visitors

Nicaragua is considered to be one of the “cheapest” destinations for travel in Central America, which is a key draw for visitors. Tourism expenditure is the lowest in the region at US$41 per day, less than half of daily spend in neighbouring Costa Rica according to the Tourism Secretary of the Central American Integrations System (SICA). While the government seeks to attract more visitors in terms of volume, it is also wants to attract visitors with higher spending habits. However, the tourism industry currently lacks a wide range of high-end offerings that would attract greater spending. Only 100 of the 750 registered hotels are ranked three to five stars and the accommodation industry just added its first five-star hotel with construction of the Mukul luxury resort in 2013. Furthermore, the country lacks direct air connections, which further limits development of high-end tourism. The government and other stakeholders began to increase investment to attract high-end visitors over the review period, but further development in accommodation and air transportation will be necessary for success.

Incentives key to tourism industry development

In order to bolster tourism in the Nicaragua, the government and INTUR annually reward monetary incentives and tax breaks to small and medium businesses via the Law 306, which was passed in 1999. Aspects of the law, which has been named one of the most investor-friendly tourism laws in Latin America, include: investors do not need to pay real estate taxes for up to 10 years, 80%-100% income tax exemption on rental property, sales tax exemption for products purchased for tourism projects and an exemption on the 1% transfer tax levied on real estate attractions. In 2013, US$51 million in incentives were approved for 34 projects including 8 hotels, 10 investment plans and 5 for foodservice and cultural tourism sites. Five projects also include road infrastructure building and repair.

Samples (FAQs about samples):

doc_pdf.pngSample Travel and Tourism Market Research Report

doc_excel_table.pngSample Travel and Tourism Data

Delivery: Files are delivered directly into your account within a few minutes of purchase.

Overview

Discover the latest market trends and uncover sources of future market growth for the Travel and Tourism industry in Nicaragua with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Travel and Tourism industry in Nicaragua, our research will save you time and money while empowering you to make informed, profitable decisions.

When you purchase this report, you also get the data and the content from these category reports in Nicaragua for free:

The Travel and Tourism in Nicaragua market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation
  • Historic volumes and values, company and brand market shares
  • Five year forecasts (of market share, market trends, market growth)
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Travel and Tourism in Nicaragua?
  • What are the major brands in Nicaragua?
  • What are the major brands in Nicaragua?  

Why buy this report?

  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our Travel And Tourism market research database.

Each report is delivered with the following components:
Report: PDF and Word
Market statistics: Excel workbook

Table of Contents

Travel and Tourism in Nicaragua - Industry Overview

EXECUTIVE SUMMARY

Tourism industry has mixed opinions of Nicaragua’s Grand Canal project

Lack of bilingual workforce inhibits Nicaragua tourism growth

Nicaragua seeks greater tourism expenditure via high-end visitors

Incentives key to tourism industry development

BALANCE OF PAYMENTS

  • Table 1 Balance of Tourism Payments: Value 2008-2013

SWOT

  • Summary 1 Nicaragua: SWOT

MARKET DATA

  • Table 2 Domestic Tourism by Purpose of Visit and Mode of Transport: Number of Trips 2008-2013
  • Table 3 Domestic Tourist Expenditure: Value and Growth 2008-2013
  • Table 4 Forecast Domestic Tourism by Purpose of Visit and Mode of Transport: Number of Trips 2013-2018
  • Table 5 Forecast Domestic Tourist Expenditure: Value and Growth 2013-2018
  • Table 6 Departures by Destination: Number of Trips 2008-2013
  • Table 7 Departures by Mode of Transport: Number of Trips 2008-2013
  • Table 8 Departures by Purpose of Visit: Number of Trips 2008-2013
  • Table 9 Outgoing Tourist Expenditure: Value and Growth 2008-2013
  • Table 10 Forecast Departures by Destination: Number of Trips 2013-2018
  • Table 11 Forecast Departures by Mode of Transport: Number of Trips 2013-2018
  • Table 12 Forecast Departures by Purpose of Visit: Number of Trips 2013-2018
  • Table 13 Forecast Outgoing Tourist Expenditure: Value and Growth 2013-2018
  • Table 14 Health and Wellness Tourism Sales: Value 2008-2013
  • Table 15 Forecast Health and Wellness Tourism Sales: Value 2013-2018
  • Table 16 Tourist Attractions Sales: Value 2008-2013
  • Table 17 Tourist Attractions Online Sales: Internet Transaction Value 2008-2013
  • Table 18 Forecast Tourist Attractions Sales: Value 2013-2018
  • Table 19 Forecast Tourist Attractions Online Sales: Internet Transaction Value 2013-2018

SOURCES

  • Summary 2 Research Sources

CAR RENTAL

Headlines

Trends

Prospects

Category Data

  • Table 20 Car Rental Sales: Value 2008-2013
  • Table 21 Car Rental Online Sales: Internet Transaction Value 2008-2013
  • Table 22 Forecast Car Rental Sales: Value 2013-2018
  • Table 23 Forecast Car Rental Online Sales: Internet Transaction Value 2013-2018

TOURISM FLOWS INBOUND

Headlines

Trends

Prospects

Category Data

  • Table 24 Arrivals by Country of Origin: Number of Trips 2008-2013
  • Table 25 Arrivals by Mode of Transport: Number of Trips 2008-2013
  • Table 26 Arrivals by Purpose of Visit: Number of Trips 2008-2013
  • Table 27 Incoming Tourist Receipts: Value and Growth 2008-2013
  • Table 28 Forecast Arrivals by Country of Origin: Number of Trips 2013-2018
  • Table 29 Forecast Arrivals by Mode of Transport: Number of Trips 2013-2018
  • Table 30 Forecast Arrivals by Purpose of Visit: Number of Trips 2013-2018
  • Table 31 Forecast Incoming Tourist Receipts: Value and Growth 2013-2018

TRANSPORTATION

Headlines

Trends

Prospects

Category Data

  • Table 32 Transportation Sales by Category: Value 2008-2013
  • Table 33 Transportation Online Sales: Internet Transaction Value 2008-2013
  • Table 34 Forecast Transportation Sales by Category: Value 2013-2018
  • Table 35 Forecast Transportation Online Sales: Internet Transaction Value 2013-2018

TRAVEL ACCOMMODATION

Headlines

Trends

Prospects

Category Data

  • Table 36 Travel Accommodation Sales by Category: Value 2008-2013
  • Table 37 Travel Accommodation Online Sales: Internet Transaction Value 2008-2013
  • Table 38 Travel Accommodation Outlets by Category: Units 2008-2013
  • Table 39 Forecast Travel Accommodation Sales by Category: Value 2013-2018
  • Table 40 Forecast Travel Accommodation Online Sales: Internet Transaction Value 2013-2018
  • Table 41 Forecast Travel Accommodation Outlets by Category: Units 2013-2018

TRAVEL RETAIL

Headlines

Trends

Prospects

Category Data

  • Table 42 Travel Retail Sales: Value 2008-2013
  • Table 43 Travel Retail Online Sales: Internet Transaction Value 2008-2013
  • Table 44 Forecast Travel Retail Sales: Value 2013-2018
  • Table 45 Forecast Travel Retail Online Sales: Internet Transaction Value 2013-2018

Segmentation

This market research report includes the following:

  • Travel and Tourism
    • Car Rental
      • Car Rental by Category
        • Car Rental by Channel
          • Car Rental Online
            • Car Rental Offline
        • Health and Wellness Tourism
          • Tourism Flows Domestic
            • Domestic Tourism Travel By Purpose Of Visit
              • Domestic Business Tourism
                • Domestic Business Tourism By Air
                • Domestic Business Tourism By Land
                • Domestic Business Tourism By Rail
                • Domestic Business Tourism By Sea
              • Domestic Leisure Tourism
                • Domestic Leisure Tourism By Air
                • Domestic Leisure Tourism By Land
                • Domestic Leisure Tourism By Rail
                • Domestic Leisure Tourism By Sea
          • Tourism Flows Inbound
            • Arrivals
              • Arrivals from Canada
              • Arrivals from Costa Rica
              • Arrivals from El Salvador
              • Arrivals from Guatemala
              • Arrivals from Honduras
              • Arrivals from USA
              • Other Countries Of Origin
            • Arrivals by Mode of Transport
              • Air Arrivals
                • Land Arrivals
                  • Rail Arrivals
                    • Sea Arrivals
                    • Arrivals by Purpose of Visit
                      • Business Arrivals
                        • Leisure Arrivals
                      • Tourism Flows Outbound
                        • Departures By Country
                          • Departures to Costa Rica
                          • Departures to El Salvador
                          • Departures to Guatemala
                          • Departures to Honduras
                          • Departures to USA
                          • Other Destinations
                        • Departures by Mode of Transport
                          • Air Departures
                            • Land Departures
                              • Rail Departures
                                • Sea Departures
                                • Departures By Purpose Of Visit
                                  • Business Departures
                                    • Leisure Departures
                                  • Tourism Receipts and Expenditure
                                    • Balance Of Payments
                                    • Balance Of Payments
                                      • Domestic Tourist Expenditure
                                        • Incoming Tourist Receipts
                                          • Incoming Tourist Receipts by Geography
                                            • Incoming Tourist Receipts - Canada
                                            • Incoming Tourist Receipts - Costa Rica
                                            • Incoming Tourist Receipts - El Salvador
                                            • Incoming Tourist Receipts - Guatemala
                                            • Incoming Tourist Receipts - Honduras
                                            • Incoming Tourist Receipts - USA
                                            • Incoming Tourist Receipts - Other Countries
                                        • Outgoing Tourist Expenditure
                                          • Outgoing Tourist Expenditure by Geography
                                            • Outgoing Tourist Expenditure - Costa Rica
                                            • Outgoing Tourist Expenditure - El Salvador
                                            • Outgoing Tourist Expenditure - Guatemala
                                            • Outgoing Tourist Expenditure - Honduras
                                            • Outgoing Tourist Expenditure - USA
                                            • Outgoing Tourist Expenditure - Other Countries
                                      • Tourist Attractions
                                        • Tourist Attractions by Category
                                          • Tourist Attractions by Channel
                                            • Tourist Attractions Online
                                              • Tourist Attractions Offline
                                          • Transportation
                                            • Transportation by Category
                                              • Air
                                                • Air by Category
                                                  • Air by Channel
                                                    • Air Online
                                                      • Air Offline
                                                  • Other Transportation
                                                    • Other Transportation by Channel
                                                      • Other Transportation Online
                                                        • Other Transportation Offline
                                                  • Transportation by Channel
                                                    • Transportation Online
                                                      • Air Online
                                                      • Other Transportation Online
                                                    • Transportation Offline
                                                      • Air Offline
                                                      • Other Transportation Offline
                                                • Travel Accommodation
                                                  • Travel Accommodation by Category
                                                    • Hotels
                                                      • Hotels by Category
                                                        • Hotels by Channel
                                                          • Hotels Online
                                                            • Hotels Offline
                                                        • Other Travel Accommodation
                                                          • Other Travel Accommodation by Channel
                                                            • Other Travel Accommodation Online
                                                              • Other Travel Accommodation Offline
                                                        • Travel Accommodation by Channel
                                                          • Travel Accommodation Online
                                                            • Travel Accommodation Offline
                                                              • Hotels Offline
                                                              • Other Travel Accommodation Offline
                                                        • Travel Retail
                                                          • Travel Retail Sales by Category
                                                            • Travel Retail Sales by Channel
                                                              • Travel Retail Online Sales
                                                                • Travel Retail Offline Sales
                                                                • Travel Retail Sales by Corporate Business vs Leisure

                                                              Statistics Included

                                                              For each category and subcategory you will receive the following data in Excel format:

                                                              From Passport

                                                              • Market Sizes
                                                              • International Arrivals by Core City
                                                              • Outbound Departures by Length
                                                              • Regional Hotel Parameters

                                                              Market size details:

                                                              • Retail value retail selling price % growth
                                                              • Retail value retail selling price local currency, USD, EUR, GBP, CHF, JPY
                                                              • Retail value retail selling price per capita local currency, USD, EUR, GBP, CHF, JPY
                                                              • Sites/outlets
                                                              • Sites/outlets % growth
                                                              • Sites/outlets per capita
                                                              • Internet transaction value retail selling price % growth
                                                              • Internet transaction value retail selling price local currency, USD, EUR, GBP, CHF, JPY
                                                              • Internet transaction value retail selling price per capita local currency, USD, EUR, GBP, CHF, JPY
                                                              • Number of bed nights
                                                              • Number of bed nights % growth
                                                              • Number of bed nights per capita
                                                              • Number of trips
                                                              • Number of trips % growth
                                                              • Number of trips per capita
                                                              • Number of rooms
                                                              • Number of rooms % growth
                                                              • Number of rooms per capita
                                                              • Offline value retail selling price % growth
                                                              • Offline value retail selling price local currency, USD, EUR, GBP, CHF, JPY
                                                              • Offline value retail selling price per capita local currency, USD, EUR, GBP, CHF, JPY

                                                              print

                                                              Recently Viewed Items more ›

                                                                Want to find out more about this report?

                                                                If you purchase a report that is updated in the next 60 days, we will send you the new edition of the report and the data extract FREE!
                                                                Our site uses cookies to improve functionality. Continue if you are happy with this or learn how to manage cookies by clicking here