BUSINESS & ECONOMICS

Monday, February 24,  1997 Online Edition 43 BUSINESS BRIEFS

American Express joins Credomatic

Taking advantage of a growing number of credit card holders in Honduras, the American Express company will now be offering its cards and services through Central America's largest credit card provider: Credomatic. The number of credit card holders in Honduras grew by 25 percent in 1996, according to an El Heraldo report. Of these, 80,000 are Credomatic cards. American Express, meanwhile, is among the 10 most widely recognized credit card companies in the world. The most common places for credit card use in Honduras, according to El Heraldo, are supermarkets and gas stations, followed by boutiques, pharmacies and restaurants.

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Investors seek joint ventures in tourism

Thirty European investors met with leaders in the Honduran tourism industry last week in the village of Copan Ruinas to discuss the future of tourism here and explore joint investment opportunities. Emilio Murillo, manager of conference sponsor Eurocentro Honduras, called the event "a gathering of Honduran and European investors to solidify business activities in the tourism sector and give them a follow-up through our organization." The European investors want to do more than invest, say conference organizers; they're looking to help train leaders in the Honduran tourism industry to take full advantage of the country and boost competitivity.

Monday, February 17,  1997 Online Edition 42

AIDS and the national economy

A report released recently by the United Nations Population Fund and Honduras' Government Office for Women points to AIDS as a major threat to economic growth over the next several years. "By the year 2000, the gravest situation will present itself in San Pedro Sula, with infection rates that fluctuate between 10 and 17 percent of the sexually active adult population," said Guillermo Molina Chocano, former minister of Coordination, Planning and Budget, in a La Prensa report Monday. Beyond health and social issues, authorities say AIDS will also affect the national economy, plaguing companies with problems like increased absenteeism, reduced productivity and higher insurance costs. In lost productivity alone, the Honduran economy could pay as much as $47 million a year, says Molina Chocano. The report urges immediate measures aimed at prevention and education.

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Tourism companies meet in Copan

Thirty European companies have confirmed their participation in the tourism and investment conference scheduled this weekend for Copán Ruinas. The event, organized by the San Pedro Sula-based Eurocentro Honduras, seeks to establish contact between European investors and Honduran opportunities. The companies, representing each of the 15 members of the European Union, will be looking into a variety of areas, including hotel investments and ecotourism. A few of the big names scheduled to participate are Spain's Official School of Tourism, Germany's Referenzbau hotel developers and Italy's Gabinet Rouls Architecte.

Saturday, February 1,  1997 Online Edition 40 BUSINESS BRIEFS

Holiday Inn is in

Construction on Honduras' first Holiday Inn hotel will begin in two weeks, said investors after finalizing the project last week. Located on the corner of Bulevard Morazán and 11 Avenida in San Pedro Sula, the 5-star hotel will be the largest in Honduras, with more than 200 rooms on 17 floors and a three-story parking garage. It will also boast a gym and a swimming pool. According to the daily La Prensa, two Honduran banks -- FICOHSA and Banco del Pais -- have invested nearly $2 million each in the project. The remaining $1.5 million come from the Central American Bank of Economic Integration. Holiday Inn, which owns more than 3,000 hotels worldwide, plans to build a second hotel in Tegucigalpa and three more in other parts of Honduras within the next five years, said a La Prensa report last Friday (Jan. 24).

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HONDUTEL bans Band "B"

In light of alleged abuse by government officials, the Honduran Telecommunications Company (HONDUTEL) has recalled all cellular phones that operate on Band "B", said an El Heraldo report last Saturday (Jan. 25). Some 25 officials will be affected by the change, which was prompted by reports of members of the Reina administration using Band "B", which is reserved for official use only, for personal calls. Officials who want cellular phone service will have to pay for it like everyone else, says HONDUTEL. For his own calls, President Reina uses a Band "A" phone provided courtesy by the Celtel company, along with 15 free minutes each month. According to El Heraldo, the president pays his own bill for all calls beyond the free 15 minutes.

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