According to Varela, this will provide the Tourism Authority of Panama (ATP) with a financial structure that will streamline policies and projects to attract more tourists to the isthmus. This will result in a greater source of economic growth, which will improve the quality of life of the population.
The tourism promotion fund will have a budget of $20 million, which will be available in August 2018. This is because Panama is currently running a promotional campaign for $20 million through the US company VML.
The fund will be managed through a trust that will be overseen by the National Bank of Panama and administered by a board of directors, composed of seven directors, among them the administrator of the ATP, the president of the National Tourism Council and five directors.
Esta ley crea un fondo a través de un fideicomiso para promocionar a nivel internacional a Panamá como destino turístico. pic.twitter.com/RHVNZJD76S