Algeria announced on Monday it is cutting taxes on tourism projects to entice business investors it can be a popular new holiday destination after emerging from years of violence. The country currently attracts only a trickle of foreign tourists even though it has thousands of kilometers of Mediterranean coastline and is only a short flight from Europe. Algeria has a shortage of high quality hotels, resorts and resorts because of attacks by militants, although these have abated in the past few years.
Tourism and Environment Minister announced reforms aimed at attracting investment including tax cuts for tourist companies, subsidized land, and low interest bank loans for tourism investments, reduced customs tariffs, and streamlined administrative procedures. Cheriff Rahmani acknowledged Algeria has not yet attained a world class level but said “We are going to put ourselves in a competitive position in relation to our neighbors in terms of Algeria’s attractiveness.”
