This Friday, January 26, the third day of the International Tourism Fair (Fitur 2024) is being held in Madrid, with the participation of representatives of 152 countries, 9,000 companies related to tourism and Ecuador as a partner country. This status has allowed the country to attract the attention of potential investors looking for opportunities in the national tourism sector. To encourage these expectations, Minister of Tourism Niels Olsen highlighted the update of the investment guide Tourism Doing Business – Investing in Ecuador, which was presented at the opening of the event.

Olsen assured that the guide details the new incentives Ecuador offers to capital interested in getting involved in the country’s tourism development. He added that this guide aims to encourage the injection of 230 million dollars spread over 10 new tourism projects, which would also benefit rural areas. The guide was prepared by the World Tourism Organization (UNWTO) with the support of the Development Bank of Latin America and the Caribbean (CAF), as part of a cooperation agreement signed by both institutions in February 2023.

Ecuador showed its investment portfolio to 120 European business people during the second day of Fitur 2024.

In the prologue of the guide, Zurab Pololikashvili, Secretary General of the UNWTO, states that it highlights the link between the tourism sector, Ecuador’s natural wealth and biodiversity, which opens up a number of opportunities for foreign direct investment. “In this sense, noting that not only are there more traditional investment opportunities in the various sub-sectors of tourism, but also green investment opportunities, as well as innovation and sustainable entrepreneurship that are breaking through, to strengthen Ecuador’s path towards development based on the preservation of nature Pololikashvili said.

Guide to Ecuador is the first of five countries in the process

Meanwhile, Sergio Díaz-Granados, executive president of CAF, revealed that the guide for Ecuador is the first in a project that includes those from five other countries in the first phase. “We present investment opportunities, a competitive environment, favorable regulations and, above all, the attractions of a country unique in its ecotourism offer, living nature, with a message of conservation, as a priority that suits all of us,” Díaz pointed out.-Nar.

For her part, Natalia Bayona, Executive Director of the UNWTO, assured that investments in Ecuador are recovering after the consequences of the pandemic, with a 22% increase in foreign direct investment (FDI) flows in all sectors during the year. 2022 In addition, he indicated that the country has positioned itself among the top ten in Latin America and the Caribbean in foreign direct investment announcements greenfield in tourism between 2018 and 2022, signing contracts for about 639.6 million dollars for tourism services.

Meanwhile, the guide highlights Ecuador’s economic context and points out that, according to estimates by the International Monetary Fund (IMF), the Ecuadorian economy closed 2023 with a growth of 1.4%, and for 2024 growth is forecast to be 1.8%, and in 2024 % until 2025.

The document, however, acknowledges that Ecuador’s economy has been affected by increased access to finance and a slowdown in its main trading partners, but also emphasizes that it is benefiting from oil prices that remain at high levels compared to those recorded over the past decade, which will provide fiscal space to move forward. with productive investments to continue the process of diversifying the economy and manage the growing social pressures in the country.

Protagonist Ecuador, in Fitur 2024, seeks to increase the arrival of Spaniards in the country by at least 10% and attract 90 million dollars of investment in 11 protected areas

The guide points out that Ecuador has a solid and stable legal framework that guarantees investors that their business is not affected by political changes. He points out that foreign direct investment (FDI) in the country has diversified, covering not only mining, but also the manufacturing, trade and service sectors; and that, to promote foreign direct investment, the Ecuadorian government promulgated the Organic Law on Economic Efficiency and Job Creation, establishing a series of incentives to encourage investment.

These incentives include changes to tax regulations aimed at attracting investment, among other initiatives, including benefits specifically aimed at the tourism sector.

New investments in tourism:

New investments:

Investments in free zones:

Public-private partnership (PPP)