San Salvador's Historic Center attracts $55 million in investments

Currently, the Historic Center of San Salvador is positioned as the second most visited tourist destination in the country, only surpassed by Surf City.

The remodeling and beautification of the Historic Center of San Salvador, and the security that now exists in the area, has allowed the attraction of new investments, and at the same time, an increase of national and foreign tourists.

This transformation, both physical and security, has been enough to attract an important amount of new projects to the heart of the capital’s downtown, as stated to “Diario El Salvador”, Manuel Joachin, owner-director of the Board of Directors of the Planning Authority of the Historic Center of San Salvador (Aplan).

According to the entity’s representative, there are more than 65 projects in the area that exceed $55 million in investments.

“Yes, in less than a year, more than 65 investment projects have already been attended in the Historic Center. In addition, we anticipate the arrival of new investments that will continue to contribute to the dynamism of the local economy and will continue to generate new formal employment opportunities for the Salvadoran population,” said Joachin.

He detailed that currently more than 10 projects are being executed, focused on key sectors such as lodging, restaurants, and cafes. “These establishments are in process and will begin operating this year,” he remarked.

Likewise, to date, more than 10 projects focused on lodging, restaurants, and cafes are being executed. “These establishments are in process and will start operating this year,” he remarked.

In addition, the institution announced that among the projects attended is a new museum that will contribute to strengthening the country’s culture and art, further enriching the history and heritage of the Historic Center. The revitalization of the heart of San Salvador has turned the area into a beautiful destination for the establishment of businesses, especially because the authorities have implemented tax and municipal incentives for up to 10 years in new investments related to lodging, food, cultural activities, furniture, and housing development.

Among these incentives are income tax exemption (ISR), exemption from municipal taxes, and expenses deductible from income taxes…

The ‘boom’ of investments in the center of the Salvadoran capital was also recently confirmed by the Minister of Tourism, Morena Valdez, who assured that soon the operation of new projects that will boost even more national and international tourism will be announced.

“We are working for all this investment attraction and we hope to be able to announce soon the first hotels and new restaurants that will be operating in the Historic Center of San Salvador”, said the official.

She also commented that the bet is that the Historic Center of San Salvador becomes like Madrid or Buenos Aires and continues to be one of the most visited places and tourist destinations in the country.

“It has been an arduous work of rehabilitation that 10 years ago would have seemed impossible, now we are achieving it and Aplan also has the great challenge that all this investment in the Historic Center is responsible”, he remarked.

Currently, the Historic Center of San Salvador is positioned as the second most visited tourist destination in the country, only surpassed by Surf City, and this is due to the recovery and urban renewal efforts that highlight the historical and cultural richness of the region.

Source: Diario El Salvador