During Holy Week, the demand for cash increases, and this year the Bank of Guatemala (Banguat) has injected the aforementioned Q2.8 billion into the economy, reported the president of that entity, Álvaro González Ricci.
The official said that liquidity is requested by the banks of the system to meet the demand of the season.
The Bank authorities reported that the additional injection of circulating money began on Thursday of last week (March 14) and extends until Semana Mayor.
In 2023, the additional injection was Q2,500 million, and the growth in demand is that there are more cash transactions this season. In addition, there are people who, taking into consideration that the banks are going to have irregular hours, make withdrawals at dispensers. of cash in advance for the expenses they anticipate that week.
Only extra-urban transport reports that the circulation of buses that provide this service increases 23% and Inguat estimates that there will be 3.3 million travelers in general this season, apart from those who travel for family visits or stay in their municipality watching processions but demand more commerce and services.
High influx of travelers
The Guatemalan Tourism Institute (Inguat) estimated 3.3 million visitors for this year’s Holy Week, 5% more than this season in 2023.
Of them, 3 million 120 thousand 484 are national tourists or residents in the country, representing 5% growth.
And, 136,977 are foreign visitors, in this case the growth would only be 2%.
Derived from this movement of travelers, an economic benefit of Q2 thousand 636.43 million is expected, in this case the growth would be 4.2%.
Of them, Q1,995.9 million would be from domestic tourism and Q670.5 million from abroad, with growth of 5% and 2%.
What destinations do they visit?
The main tourist destinations that will have the greatest visitation according to Inguat estimates are:
- Antigua Guatemala with 49%
- Retalhuleu, 14%
- Quetzaltenango, 10%
- Pacific beaches, 8%
- Izabal, 6%
- Atitlán (Sololá), 5%
- Las Verapaces, 3%
- Esquipulas and Petén, 2% each
Since this week, hotels were already reporting occupancy of hotel reservations on average of more than 90% in different destinations, while Irtra in Retalhuleu reported that reservations were sold out.
Where foreign travelers come from
Regarding international tourists, the main countries of origin are:
- 54% come from El Salvador.
- They are followed by the United States with 15%
- Honduras, 12%
- Europe, 6%, among other countries
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