Ecuador's National Assembly approves Law to Strengthen Tourism Activities

25-03-24

In a session held on Thursday night, March 21, the National Assembly of Ecuador approved with a resounding 83 votes in favor the fifth draft of the Urgent Economic Law submitted by the Executive. 

This law, called Organic Law for the Strengthening of Tourism Activities and Employment Promotion, promises to open new doors for the Ecuadorian tourism sector and offer financial relief at a crucial time.

One of the highlights of this legislation is the provision for the Ministry of Tourism, in coordination with public and private institutions of the National Financial System, to facilitate loans with preferential rates and flexible terms for the tourism sector. This financial support is directed especially to establishments affected by various adverse circumstances, offering more favorable refinancing conditions for their existing operations.