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Is there a light at the end of the tunnel?

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  • Is there a light at the end of the tunnel?

    There are strange things happening in an island that for all purposes seems to be on the brink of bankrupcy and massive abandonment.

    1-There is a new multi-million dollar Mall + Hotel and casino being built for consumers far and beyond Walmart and 99 cent stores.

    2-There are still million dollar Condos holding their own.

    3-Cruise ships have returned to San Juan, some making it their home port.

    4- Hotels are full to 90% capacity during high season.

    5- New air routes to Bogota and Madrid have opened or will soon open again.

    6-Just read a headline in Caribbean Business that the Government put in bids to attract Boeing to build it's 777 airliner. Although far fetched, who knows?

    And finally, to top it off this:

    Hedge-fund, private-equity fund investors flock to Puerto Rico; drawn by attractive economic incentives, confidence in the island's recovery ( Caribbean Business)

  • #2
    Sometimes I think Puerto Rico overdoes it.

    A new Hyatt hotel and Casino will soon open in Bayamón, of all places. Bayamón is certainly not a high end municipality, a hotel and casino, what for?

    A new Mega Mall just got approval in Guaynabo. The Venezuelan owned Sambil Mall with 300 + stores, will rival Plaza and will and give stiff competition to the luxury Mall of San Juan being built near Isla Verde. Sambil just finished another Mega Mall in Santo Domingo and Curaçao and was delayed in San Juan because the Fonalledas, owners of Plaza , took them to court. If states like Mississippi, Oklahoma, Nebraska and a lot more have higher per capita incomes than Puerto Rico. Why not build these consumer palaces there?

    Why is all this being built? Do they know something we don't. With the bad press Puerto Rico has in the U.S. with crime , migration of the middle class, and government bonds practically in the junk bond status, What's going on?

    The good thing is that they will employ locals.

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    • #3
      The underground economy of the narcotráfico is fueling all this developments, with 48% of the drugs entering into the U.S. coming through the Commonwealth, plenty of $ to go around. Another Laundromat.

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