The Panamanian government is planning to pour $100 million into nine different tourist projects in the Caribbean province of Bocas del Toro, Panama’s Tourism Minister Ruben Blades announced this week. The projects, to be executed in a western province that abuts Costa Rica, are linked to the hotel sector, tourist residences, marinas and shopping mall areas, Mr. Blades explained.

The Inter-American Development Bank (BID) reported this week that money sent by migrant workers in the course of 2004 rose nearly 20 percent from 2003. Latin American and Caribbean workers living abroad sent a record $45.8 billion to their homelands in 2004, up from $38 billion the previous year, the Inter-American Development Bank´s Multilateral Investment Fund (MIF) informed.

Brazilian authorities are confident about the economic recovery of the Dominican Republic and, therefore, are encouraging their own entrepreneurs to do business in that Caribbean country, a diplomatic source in this nation revealed this week. Brazilian Ambassador to Santo Domingo, Ronaldo Dunlop, who atended a meeting with Santiago de Chile Governor Jose Izquierdo, explained there´s a tremendous interest in his country to make hefty investments in local breweries and other job-creating projects.

Venezuela´s travel industry and spiking oil prices are the most visible signs that the South American nation´s economy actually rebounded in 2004. According to the Tourism Ministry, authorities from the sector are expecting to log over 45 million domestic travelers and little more than 639,000 international sunbathers coming to Venezuela in the course of the ongoing year.

The Association of Caribbean States (ACS) is gearing up for the oncoming Fourth Summit in Panama, trying to do its homework in terms of social and economic achievements for its people. The summit´s Organizing Committee is already working in Panama City under the watchful eye of Panama´s Deputy Prime Minister and Minister of Foreign Affairs, Samuel Lewis Navarro.

Paraguay is the cheapest travel destination for euro-wielding German tourists, followed by Egypt, India and Argentina, according to a report issued by the Federal Statistics Agency this week. Paraguay is also the country that provides the best purchasing power for travelers of the Euro Zone, with a national currency exchange rate of € 1.68 for every guarani.