The Decline of San Pedro Sula

The economic capital of Honduras has become stalled in terms of development of infrastructure, and insecurity is scaring away the necessary investors.

Monday, July 23, 2012

An article in Laprensa.hn reports that "The difficulties of roads, lack of investment, unemployment, crime, lack of major infrastructure projects, the municipality's financial setbacks and environmental problems are just some of the factors have stopped development in San Pedro Sula. "

Industrial activity, once the backbone of the economy in San Pedro has given way to services, primarily call centers, which "is not bad, but it is not enough, and it does not generate the number of jobs that are needed because the expected investment has not been made", says the engineer William Hall, who was president of the Honduran Chamber of the Construction Industry for four years, and municipal councilor.

"The city remains the benchmark in the Sula Valley, the area which has the most economic activity in the country, and has the potential to excel not only at a national but regional level, but various factors for years have made the step towards growth increasingly slow and in some areas, such as investment in public works, it has stopped completely. "

More on this topic

San Pedro Sula: Airport Should Operate 24 hours a Day

February 2013

The Chamber of Tourism in Honduras said that operations in the early morning would enable new flight frequencies for both passengers and cargo.

Armando Funes, CANATURH’s vice president and president of the Airlines Association of Honduras, said that there are still "hours in the early morning which could be used to open new markets."

San Pedro Sula airport faces surge in costs

June 2008

Airport authorities in San Pedro Sula, Honduras, face spiraling costs as traffic is diverted from Tegucigalpa following a recent serious accident there.

Alexander Hernández, the San Pedro Sula airport manager, said he has hired 30 extra workers in recent days to handle the growing burden of security and administration.

Reduced Investment in El Salvador

May 2013

Lack of policies for attracting investment and the climate of insecurity both legally and for citizens is scaring away local and foreign investors.

In terms of Foreign Direct Investment (FDI), this barely grew, by $22 million, during 2012, closing with $463 million while the previous year it had been $441 million.

High Rate of Extortion Forces Businesses to Close

September 2012

A study conducted in July by the Chamber of Commerce of Honduras shows that extortion has caused the closure 1,600 companies.

Crime that has been affecting the country's economic development, discourages investment and generates job losses, said Mario Bustillo, president of the Chamber of Commerce of Tegucigalpa.

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