The proposed new Panama Tourism Act includes incentives for the construction of maritime infrastructure and activities related to nautical tourism.

“If the new tourism legislation is approved, companies making a minimum investment of $10 million in construction, equipment and cruise port administration will be entitled to a total exemption for five years on import duties for input materials for the construction of marine infrastructure,” reports Prensa.com.

Similarly, land and improvements that are dedicated exclusively to the operation of ports, construction of marinas, piers and small docks in destinations that promotes tourist arrivals will remain free from real estate tax for 20 years .

The new law will also redefine the concept of nautical tourism, to include “all journeys performed for the purpose of activities and sports related to the sea: diving, snorkeling sailing, surfing, boat trips, including activities in small cruise ships and pleasure craft. ”

The Tourism Authority of Panama (ATP) is encouraging the creation of cruise terminals in Amador on the Pacific, and Isla Colon on the Caribbean.

Source: Prensa.com