Unfortunately Nicaragua suffers from a bad reputation. This is primarily due to the contentious Sandinista versus Contra war that took place in the 1980s, and in which the US was very much involved. The country was in the headlines for many years – always for the wrong reasons. But the tide is changing and recent years have seen far more positive information emerge about the country. So much so that it’s starting to get on the radar for both real estate investors and tourists alike. Here are some of the positive news stories we have come across in recent months.
Nicaragua’s tourism industry has been growing in leaps and bounds. In fact in 2010 more than 1 million tourist visitors arrived in the country. That’s a record-breaking figure for the country and an increase of around 8% from 2009.
Lonely Planet has recently released a list of top 10 best value destinations for 2011. Nicaragua is on that list. One of the key attractions is the very low cost of living on offer in the country. Both Shermans Travel and Travelage West also placed Nicaragua in their recommendations for top value destinations in 2011.
The country now benefits from one of the most attractive, and benefit laden retiree resident programs in Central America. It took a page out of Costa Rica’s book but now surpasses it in many of the benefits and tax incentives on offer. This is one of the key reasons why baby boomers, who can no longer afford a high quality retirement in the US, are starting to look at Nicaragua. Some have even made the move and are living in Nicaragua full-time enjoying the low cost of living on offer. In 2010 AARP rated Nicaragua as one of the best places to retire abroad.
The economy is also doing well. While it’s still very much a developing country growth rates are beating regional averages for Central America. Exports are also on the rise and came in at a record-breaking 1.9 billion in 2010.
And let’s not forget that the hit reality TV show Survivor filmed it’s recent series on the beaches of San Juan del Sur, Nicaragua’s prime tourism destination on the Pacific coast.
Nicaragua is a beautiful country with a very welcoming feel. It’s got the same quality of ocean landscapes and inland biodiversity that has made Costa Rica, its neighbor to the south, so popular. Nicaragua has also got some very tempting real estate on offer – generally at prices far below not only Costa Rica but also Panama and Belize.
Perhaps it’s time to get on a plane and see the country for yourself?