Aug
30
Bankrupt Caribbean Paradise Woos Chinese Tourists—and Their Cash
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Puerto Rico sets out to revive itself with money from the east
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Plans for a theme park of regional delights to woo investment
Over the years, Puerto Rico has wooed visitors and investors with beaches, sun, tax breaks and splashy public works. Now the Caribbean island wants to add an outpost of Chinese culture, complete with graceful pavilions and regional cuisine.
The same territory that racked up more than $70 billion of debt has a new plan for spurring its long-suffering economy: have private investors build a $200 million China-themed center in Arecibo, on a former sugar-cane field about an hour outside San Juan. The investors, assembled by a Chinese law and development firm, plan to break ground in May and envision 39 structures to highlight foods, music and entertainment…
Bankrupt Caribbean Paradise Woos Chinese Tourists—and Their Cash
