Business

San Juan Tech Hub Opens Applications for Second Startup Cohort

District 787, San Juan's emerging technology and startup campus in Santurce, opened applications for its second accelerator cohort, offering selected companies office space, mentorship, and seed funding of up to 50,000 dollars. Organizers said the first cohort produced three startups that have since raised follow-on investment.

Jun 18, 2026·via Metro PR

Puerto Rico Hotel Occupancy Hits Five-Year High for June Week

The Puerto Rico Hotel and Tourism Association reported hotel occupancy rates reached 91 percent during the second week of June, the highest figure for that period since 2019, driven by strong domestic U.S. leisure travel and a growing number of European visitors. Revenue per available room also set a new record for the month.

Jun 12, 2026·via NotiCel

Background

Puerto Rico's Economy: Pharma, Tourism, and Recovery

Puerto Rico's economy is shaped by several overlapping forces: a large pharmaceutical and medical device manufacturing sector (Puerto Rico produces a significant share of U.S. prescription drugs), a growing tourism industry, and the long shadow of a decade-long fiscal and debt crisis that culminated in a 2017 Title III bankruptcy filing under the federal PROMESA law. The PROMESA Financial Oversight and Management Board has supervised fiscal plans and a complex debt restructuring that formally resolved a substantial portion of the roughly $70 billion in debt. Hurricane María (2017) caused severe economic disruption on top of an already-contracting economy; post-storm, Act 60 tax incentives have attracted new businesses and remote workers, with mixed effects on local housing and labor markets.

Pharmaceuticals and medical devices are the backbone of Puerto Rico's manufacturing economy — the island produces a major share of U.S. prescription drugs sold globally.
Tourism has grown significantly; San Juan is a major cruise port and the sector supports hundreds of thousands of jobs.
PROMESA (2016) and La Junta oversaw restructuring of ~$70 billion in debt; a confirmed debt plan reduced obligations substantially.
Act 60 incentives have attracted tech entrepreneurs, crypto investors, and remote workers — boosting some sectors while pressuring housing supply and affordability.
Puerto Rico's GDP and population have both declined over the past two decades, driven by emigration, fiscal austerity, and hurricane recovery challenges.

Learn more