Ecuador seeks Spanish investment to relaunch and make its tourism more visible

With a budget of 47.5 million dollars to invest in tourism over the next three years, Ecuador is looking for investors in Spain, in addition to making visible the country’s possibilities, still largely unknown, for Spaniards, according to an interview with EFE in Madrid by the Ecuadorian minister of the sector, Niels Olsen.

Olsen is in the Spanish capital for four days to participate in various economic and business forums, in which he will present the opportunities of his ministry, which is very much strengthened economically to achieve a real tourism recovery after the pandemic.

“If you compare the budget with that of the last ten years, this is much higher,” says the minister, which will mean, among other things, that Ecuador will be much more visible “in the Spanish market”, a “priority” for the country.

Ecuador will be present at the Madrid tourism fair (FITUR) in 2023. The minister announced that they are in talks to be the host country and thus “make our country more known to Spaniards, taking advantage of the fact that we also have a direct connection”.

Olsen participated today in Madrid in the Ecuador Open for Business, an event in which the Ecuadorian president, Guillermo Lasso, intervened telematically.

“We come to have an approach with investors so they can learn more about our country and present investment options,” said the minister, who is clear that he must change the fact that “the Spanish do not know Ecuador as they should” and that is, precisely, “his work” these days.

A COUNTRY TO KNOW

Olsen vindicates Ecuador’s attractions for foreign visitors and highlights that it is a “super small country, with an internal connectivity that is quite easy and comfortable”.

“The gastronomy is spectacular, more ancestral, we have adventure tourism, a coastal region with wonderful beaches, the Andes with mountains or volcanoes, the Amazon or the Galapagos that need no introduction,” he exposes.

He also stresses that the South American country can not only be a leader in sustainable tourism but also in “regenerative” tourism.

“Where there is tourism, there must be a positive impact; more than that, leave it better than it found it,” he defends.

In that line, he points out that they will launch several projects related to this tourism in the coming months and stresses that the “strength” of the South American country “is in rural tourism, authentic experiences, and connectivity with local people”.

“That luxury is difficult to find in countries where they already have a very developed tourism; Ecuador has all the potential and capacity to become a leader in the region of regenerative tourism,” he stresses.

TOURISM CLOSE TO RECOVERY

The Ecuadorian minister celebrates that the country’s tourism industry is recovering at a rate “even higher” than the forecasts of the World Tourism Organization (UNWTO), which predicts that international tourism will recover the pre-pandemic levels by 2024.

“We have indexes that place us ahead of several Latin American countries; with the U.S. market, which is for us the most important because it is the country that sends the most tourists to Ecuador, we are only five percentage points away from recovering the 2019 figure,” he applauds.

“In the remainder of the year, we are going to achieve good numbers; possibly in 2023, we will be 100% recovered, a year earlier than the UNWTO predicts,” he values.

Despite this, Olsen is cautious and recognizes that at some points, there is still “some way to go” for a full recovery.

“The important thing is that we are working with an agenda of innovation, competitiveness and promotion” with an eye on “restoring investment in the tourism sector”.

Also, on tax incentives, “which are under review at the moment”. “I hope that by the end of the year, we will manage to present quite aggressive incentives to be able to trigger investments in the sector,” he says.

In that sense, he also points to a possible lowering of rates for privately managed airports, as is the case with some state-run airports, something demanded by the Association of Airline Representatives of Ecuador (Arlae).

“That reduction is going to have a direct impact on revenue, obviously, but it is on the table, and we are evaluating it at the moment; when I have official news, I will share it,” he concludes.

With information from EFE

More: Brazil news in English, every day from The Rio Times.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error