Economy
Managua is the economic center and a generator of services for the majority of the nation. The city with a population exceeding two million inhabitants, it houses many large national and international businesses. It is home to many factories which produce diverse products. Multinational companies such as Wal-Mart, Telefonica, Union Fenosa, and Parmalat have offices and operations in Managua.
Managua is also home to all of the major banks of the nation, Banco de la Produccion (BANPRO), Banco de America Central (BAC), Banco Uno, Banco de Finanzas (BDF), Banco de Crédito Centroamericano (Bancentro) and its parent company the Lafise Group. Several new hotels including Crowne Plaza, Best Western, InterContinental, Holiday Inn, and Hilton currently have facilities in Managua. As well as many hotels, Managua has opened four western style shopping centers or malls, such as Plaza Inter, Centro Comercial Metrocentro, "Galerias Santo Domingo". http://es.wikipedia.org/wiki/Galer%C3%ADas_Santo_Domingo., and Multicentro Las Americas, with many more being constructed.
There is a large established local market system that caters to the majority of the Nicaraguan population. The Mercado Roberto Huembes, Mercado Oriental, Mercado Israel Lewites and other locations are where one can find anything from household amenities, food, clothing and electrical and other contracting supplies. The markets enjoy a substantial amount of popularity, as many of the backpacking, ecotourism-focused tourists and tourists on a budget use these markets for their supplies and souvenirs.
Managua is also currently experiencing an upsurge in real estate prices and as well as a housing shortage. Foreigners, mainly from North America and Europe, are becoming interested in considering post-retirement life in Nicaragua, as the country has been mentioned by various media outlets due to its safety performance on major indexes and inexpensive lifestyle for tourists.
The capital is also a need for modern office space in downtown Managua as the economy of Managua continues to grow. Economists predict that its demand for commercial real estate will increase. New office buildings are currently being constructed along the Carretera Masaya and in Villa Fontana. The most recent inauguration being the Edificio Invercasa.
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