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$20 million Tourism Fund Proposal in Assembly

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ENGPropose that Government give the first contribution of $20 million to create tourism promotion fund

ENGA proposal for a law to create the so-called 'tourism promotion fund' to save the tourism sector and its current crisis, is already in the National Assembly.

The Cabinet Council endorses a convention of $8.5 million to promote the country in Europe tourist campaign fails to detach this is a preliminary draft which establishes that the first contribution that would give the government for its creation would be $20 million. This contribution, in accordance with the document presented by the Deputy Samir Gozaine, would have as a source of income the rate of $10.00 per international passenger service at the Tocumen Airport, which charges the Panama Tourism Authority (ATP).

The Fund - which would be mixed- will be managed through a trust fund for the administration. And if the government fails in the collection of the above figure, the document says, "will be the responsibility of the entity of the State responsible for the contribution of what is appropriate".

According to the congressman Gozaine, "is a reality that in Panama there is currently a percentage decline in the rate of growth of tourism". Highlighted, for example, that is "forecasts" that in 2016 the Tourism "will not reach the expected growth rate of 12%, with which does not cover the specific needs of the sector, since only in January 2015, the entry of visitors fell approximately 4%". This joint fund would also have the contributions of the municipal entities, national or international private companies, inheritances and donations.

The bill also establishes that the monies of the fund would be used for, inter alia, design, planning, and programs to promote tourism. It will also create a board of directors composed of seven directors: five appointed by the President of the Republic; the administrator of the ATP and the president of the National Council of Tourism. The periods of managers would be staggered, with a maximum of 7 years.

Last Tuesday, 1 November, the Council of Ministers authorized the Panama Tourism Authority (ATP) to sign a convention of advertising shared with the German company Deutsche Lufthansa Aktiengesellschaft for a total of $8.5 million. And last August, the Council of Ministers also approved a contract of $20 millonespara promote to Panama as a tourist destination. It would be the ATP next to the U.S. marketing firm VML, Inc., which will implement a marketing and communications strategy to execute the project between the year 2016 and the year 2018.


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