Peru Poured Over $1 Million into ITB

Peru shelled out more than $1.2 million for its participation in this year´s International Tourism Marketplace in Berlin (ITB), announced Alfredo Ferrero, the country´s Minister of Foreign Trade and Tourism. Mr. Ferrero is hopeful that the tradeshow will also help Peru lure foreign investors willing to invest in the country´s tourist infrastructure.

The Peruvian Minister explained that as a result of the March 11 terrorist attacks in Madrid, prospects for the travel industry are blurry. "We must wait for the outcome of this fair to make some projections in terms of investment growth."

The South American nation is open to foreign investment and the local leisure industry has what it takes to give the country some level of stability. The government is ready to levy no taxes on potential investors keen to forking over money into a number of projects chosen by the authorities, Minister Ferrero added.

Peru expects to launch its tourist sector into growing figures in the neighborhood of 12 to 15 percent this year and a whopping 25 percent increase by 2006.

Experts believe that the Madrid attacks could make a dent in the volume of travel toward Spain and the Mediterranean, but leave long-haul trips virtually unaffected, as in the case of Latin America and Asia.