Managua in Alajuela, Costa Rica was the second established in 1984. The latter was made the main campus following the lack of government support during the 1980s; in fact the Managua campus was actually closed for most of this time. It then reopened in 1990 after democracy was restored in Nicaragua; however, the main campus remained in Alajuela. According to a study done by América Economía INCAE ranked as the number one business school in Latin America in 2004 and 2005 and ranked in the top ten international business schools by "The Wall Street Journal" in 2006. Managua is the economic
Managua Foreign embassies in Managua also sponsor film festivals. Since the late 1990s and early 2000, many casinos and karaoke bars opened and have remained popular attractions for Nicaraguans and foreign visitors. Popular music includes the Palo de Mayo, Merengue, Cumbia and Latin pop among other Latin music genres, as well as American pop and rock. Salsa dancing is a national pastime. Managua boasts a vibrant night life. Nightclubs and bars are abound in Managua, particularly, in the popular areas called "Zona Viva" located in the shopping mall "Galerías Santo Domingo", as well as very close by "Plaza Mi Viejo Santo