Puerto Rico is located in the northeastern
Caribbean, 60 miles east of the Dominican Republic, and 40 miles
west of the US Virgin Islands. The Island is 100 miles long &
35 miles wide. The coastal areas are flat, and the interior is mountainous.
The Commonwealth of Puerto Rico is a politically stable Commonwealth
of the United States and Puerto Ricans are American citizens. Puerto
Rico has the highest per capita income in the Caribbean and Latin
America, a modern infrastructure, and a well educated labor force.
Manufacturing is the leading source of GNP and hotels benefit greatly
from business related travel. The constant, mild tropical weather
and cooling trade winds have helped to make Puerto Rico a popular,
year-round vacation destination.
The Island's International Airport is located between San Juan
and Bahia Beach Plantation. More than 12 million visitors pass through
the airport yearly, served by 36 airlines. International carriers
offer direct service to major cities throughout the western hemisphere.
For hoteliers considering Puerto Rico, there are many economic
incentives available, such as: special rate utility subsidies, tax
incentives and special bond-issue long term financing. In particular,
the Puerto Rico Tourism Incentive Act provides 10 years of tax exemption
on income, property and excise taxes, and license fees. Tax exemptions
may enjoy additional 10 year extentions.
The security of Commonwealth status with the US, superior air service,
a large labor pool, and the only Caribbean island with suitable
infrastructure, combine to make Puerto Rico attractive to hotel/resort
investors.
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