The Tuvalo Tourism Association (TTAA) said on Tuesday that it was in talks with the government to extend its five-year operating contract, which runs until 2020.
It said it had received an offer from the government of $5 billion in a two-pronged package of funding to boost tourism.
Tuvali is on the front lines of the ongoing tourism boom in the country.
It is one of the largest tourism markets in the world, attracting an estimated 100 million visitors each year.
Tuvegas is home to some of the world’s most iconic natural and cultural sites.
It has also attracted international attention for its dramatic climate, which can vary from a hot summer to a cool autumn.
Last year, Tuvalouan President Amadou Toure announced a $1.2 billion expansion of Tuvala’s capital, Suva, to accommodate a third of its 1.3 million inhabitants.
Tuvisa is also seeing a boom in tourism and economic activity in the capital, Tuva.
The Tuva Tourism Association said Tuvalum was in the midst of a major tourist boom, and it hoped to see an extension of the five-season tourism contract in 2020.
The agreement, which will allow Tuvalia to expand its tourism operations in both Tuva and Suva at a faster pace, is set to be extended for another three years.
Tuva has also had an expansion plan for its tourist attractions, with the construction of a new hotel and a new convention centre being launched this year.
The TTAA said it was currently negotiating with the Tuvalian government and is awaiting further information from the Tuveese government.
Tuvan, which has about 7,000 residents, also has a major tourism sector, with nearly 15,000 tourists annually.
It had planned to add more than 20 new hotels in the next year, with another six to seven planned to open this year, the TTAA added.
The number of tourists visiting Tuva rose to 7,500 last year, according to Tourism Minister Michael Gendron.
He said the government was in negotiations with the Tourism Association to extend the five year tourist contract to 2020.
Tuvaria is also in the process of building a new Convention Centre in Tuva, which was due to open in March, with an estimated completion date of 2020. More: