Cusco is expected to receive $250 million in investments to its hotel industry over the next four years, according to Carlos Canales, head of the National Chamber of Tourism (Canatur).

The region, he said, would receive about 10 new facilities, which would allow Cusco to keep up with the increase in tourists.

“Investors are encouraged by Cusco’s hotel occupancy rates, which currently average between 55 to 60 percent,” Canales was quoted as saying by Andina.

“The outlook is encouraging,” he added.

Investors from several countries, he said, were interested in Peru, and said Chilean entrepreneurs had recently visited Cusco, Lima, and Arequipa to evaluate investment opportunities.

“The situation in Peru is positive because it attracts tourists, both domestic and international.”

“The case of domestic tourism is remarkable, because it is becoming a major source for the local economy,” Canales said.