A Salvadoran company is making a significant investment of over $2 million in a tourism expansion project at Coatepeque Lake. The renowned Las Palmeras restaurant, situated on the picturesque shores of Coatepeque Lake in the Santa Ana department, is undergoing a transformation to provide both local and international tourists with a unique lakeside accommodation experience.
The family-owned business, known for its diverse cuisine and ferry rides, has taken this bold step to enhance its tourism offerings, capitalizing on the favorable safety conditions in El Salvador. The decision to expand comes in response to the increasing confidence in the country’s tourism sector, thanks to the policies championed by President Nayib Bukele’s government.
The expansion project commenced with the inauguration of seven new rooms in early August this year. Additionally, construction is underway for 25 charming cottages in close proximity to the restaurant area. This phase of expansion has also led to the creation of 75 direct employment opportunities, contributing positively to the local economy.
Leonel González Castro, the visionary investor behind the project, proudly stated, «We are expanding our family business, capitalizing on the peaceful atmosphere, and above all, the enhanced security. Today, we have the confidence to undertake such projects because of the government’s policies that are fostering development across the nation.»
González Castro extended a warm invitation to both domestic and international tourists to explore the wonders of El Salvador, particularly the splendor of Coatepeque Lake. He also expressed gratitude to government institutions, such as the Investment and Export Promotion Agency of El Salvador (Invest), for their support in facilitating investment processes in the country.
Salvador Gómez Góchez, the President of Invest, along with investment experts, recently conducted a site visit to inspect the expansion progress of the tourism project. He remarked, «We continue to focus on assisting both national and international investors, in this case, a fellow Salvadoran who is expanding his tourism venture to offer a distinctive experience to our country’s visitors and those from abroad.»
Gómez Góchez encouraged potential investors to reach out to Invest for support in navigating the necessary procedures to establish their businesses in El Salvador.
Invest in El Salvador emphasized its commitment to assisting and advising both local and foreign investors throughout their projects, ensuring the success of their investments. This venture at Coatepeque Lake stands as a testament to the potential for growth and development in El Salvador’s thriving tourism sector.