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Algeria slashes taxes on tourism projects  Join our daily free Newsletter

MENAFN - 19/08/2009

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(MENAFN) Algeria announced that it has slashed taxes on tourism projects to persuade investors that the country, emerging from years of violence, could become a hot new holiday destination, Reuters reported.

Algeria has thousands of kilometres of Mediterranean coastline a short flight from Europe and vast tracts of Saharan desert wilderness - yet only a trickle of foreign tourists.

Attacks by militants, though dramatically reduced in the past few years, have kept many visitors away, along with a lack of investment that has left oil-producing Algeria with a shortage of high-quality restaurants, resorts and hotels.

Tourism and Environment Minister Cherif Rahmani unveiled reforms that included tax cuts for tourist firms, low-interest bank loans for tourism investments, reduced customs tariffs, subsidised land and streamlined bureaucratic procedures.

 






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