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Tourism Industry Booming Thanks to Mexico Real Estate

30 June, 2013

The number of travelers from around the world who are heading to Mexico this year for vacation has risen sharply during the first half of 2013,with towns located in all of Mexico’s most popular vacation destinations reporting a rise in air traffic,hotel bookings and international visitors.

“Marriott is seeing more American tourists traveling to its resorts in Mexico,” writes NASDAQ. “Mexico’s economy grew 3.9 percent in 2012 and is expected to gain about 3.4 percent this year,according to a recent report by the International Monetary Fund (IMF).”

Hotel occupancy data in Cancun has also shown that a larger number of visitors have headed to Mexico so far this year,with 79 percent of all available hotel rooms remaining steadily occupied throughout the first quarter of 2013,an increase of more than 8.6 percent from the same period in 2012. This is also good news for anyone who owns rental property in Mexico real estate,since a higher rate of tourism always equals more rental activity across the entire sector.

USA Today named Cancun as one of the top three international destinations in terms of value,while Cancun also garnered praise from Orbitz; coming is as the third most-popular destination for American summer travel in 2013. Also located on Mexico’s stunning Yucatan Peninsula,the ex-pat haven of Merida has experienced a substantial increase in hotel occupancy rates of nearly 19 percent so far this year and tourism throughout the state of Yucatan is up 14 percent.

“You’ve got a lot of things going on in Mexico,” stated Craig Smith,regional president for Marriott in Latin America and the Caribbean. “A lot of factories are moving back to Mexico from parts of Asia just because labor costs in Asia have gone up and...it is closer to the United States,so transport costs are down.”

Over the last ten years,Marriott has reportedly doubled the number of hotels in Mexico and plans to double the current number again by 2017,aiming to operate more than 40 properties in Mexico alone in the next few years.

Finally,the number of international tourists who are flying into Mexico has risen dramatically over the first four months of 2013,increasing by more than 6.3 percent according to the National Migration Institute. In April alone,more than 1 million foreign visitors came to various destinations in Mexico by air,which is an increase of nearly 8 percent over the same period in 2012. Countries that have experienced the greatest increased in tourism to Mexico so far in 2013 include Russia (up 71.7%),Columbia (up 61.6%),Peru (up 54.1%) and China (up 35.1%).

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