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Mexico Real Estate Owners & Buyers: Mexico Tourism Gets Boost from Public & Private Sector Investment

11 October, 2012

Mexico’s sixth government report on tourism,which was released by the nation’s Tourism Secretary Gloria Guevara in early October,shows a significant increase in the number of international and domestic tourism arrivals this year. The report also shows a large boost in private and public sector investment over the past six years.

Tourism is a big priority for Mexico and accounts for more than nine percent of the nation’s annual gross domestic product (GDP) and is a major part of why Mexico real estate remains such a strong investment option. According to the report,the five most important tourism areas for Mexico are: domestic tourism growth,international tourism growth,public tourism growth,private tourism investment and market diversification.

From 2001 to 2012,Mexico has seen an impressive 53.7 percent increase in private sector investment,which has played a large part in Mexico’s excellent tourism numbers in recent years. For example,in 2011 Mexico hosted 23.4 million people from all over the world,shattering previous records. 

Public sector investment has been even more impressive,growing by an astounding 582 percent during the administration of former President Ernesto Zedillo and 146.8 percent during the administration of former President Vicente Fox. Also of note,from 2006 to 2011 the total number of tourists – both domestic and foreign – grew by more than 18 percent,which is a record jump.

“Tourism,a cornerstone of the Mexican economy,is truly a national priority,” shared Guevara. “The government has forged a strategic alliance between legislators,bureaucrats,business,unions and academics,thereby establishing a solid basis to ensure the future development of the industry.”

In recent years,Mexico has focused on attracting international consumers,realizing a jump of more than 46 percent in tourists from around the world outside of the U.S. and Canada. This has reduced the nation’s dependence on the North American market,attracting a large number of new visitors from Brazil,China,Russia and Korea,to name only a few.

 

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