The Costa Rican government announced plans Monday to offer $8.3 million to refurbish more than 300 luxury hotels.
The plan was announced by Costa Rican President Jose Luis Orlando Pérez de Guzman in a televised address to the nation, which is still recovering from Tropical Storm Ana, which killed at least 100 people.
The government expects to receive the first half of the funds from a $3.2 billion bond issue.
Pérez said the government was looking to refashion the luxury resorts to create new, more upscale, and modern places.
It was a “political and economic imperative” to ensure that Costa Ricans living in the island nation were not only able to afford the new hotels, but also that they were not deprived of the amenities that they have come to expect from the island’s hotels.
The luxury hotels would be made available to residents of the islands “as part of the refurbishment,” Pézde said.
The government said it would also help provide a new hotel for residents of neighboring Dominica, as well as provide other amenities such as restaurants, a gymnasium and a playground.
Costa Rica is one of the most expensive destinations in the world for vacationers.
The average price of a single night in a Costa Rican resort is $3,732.
The Costa Ricos government expects that it will receive the full amount of the bonds to fund the project.
Costas Tourism Development Authority said it had spent $2.5 billion to renovate hotels in the past decade, and it would use $1.9 billion to create more hotels in 2020.
Péres goal was to “make sure that the tourism industry continues to flourish, and that the people who work there get a chance to get paid for their work.”