The island s tourism boom began in 1983, largely as a result of the fall in the value of the bol var and the consequent tendency of Venezuelans to spend their holidays at home. Margarita s status as a duty-free zone has also helped.
Venezuelan shoppers go in droves for clothing, electronic goods and other consumer items.
Gold and gems are good value, but many things are not. There has been extensive building in Porlamar, with new shopping areas and Miami-style hotels going up. A number of beaches are also being developed. All-inclusive resorts and timeshare are expanding on the northeast corner of the island and there is a glut of hotel rooms and apartments. The island s popularity means that various packages are on offer, sometimes at good value, especially off-season.