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Record Investment in Tourism, Positive For Mexico Real Estate

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By : Sean O'Neal    99 or more times read
Local newspaper El Quintanarroense said this week that in the last 9 months private tourism investment in Mexico reached a record $4,348 million.

They reported Rodolfo Elizondo Torres, the Secretary of State for Tourism, as saying this represented a 29.4 percent increase over the same period last year and the state of Quintana Roo - which includes Playa del Carmen, Tulum and Cancun – is one of the biggest beneficiaries.

Quintana Roo already has many major tourism projects underway and Torres said that the new investment could create as many as 11,000 new jobs directly and another 4,000 indirectly.

In a separate article, national newspaper El Universal, reported Félix González Canto, the Governor of Quintana Roo, as saying there had been 10 percent more tourists visiting the state than the same period last year.

Canto was quoted as saying that so far in 2008 Quintana Roo had received 10 million tourists, a million more than the previous year. And that between September 2007 and 2008 40,000 tourism related jobs had been created.

The paper said that Canto thinks the outlook for the winter season is “positive” and that with the help of international conferences and events, a minimum 70 percent hotel occupation is guaranteed.

El Universal quoted Canto as saying he wanted to reinforce tourism arrivals from the USA and Canada. He added, “Texas isn’t suffering from the crisis as much as other US states and obviously this means we are focusing a little more of our promotion there than in other states.”

He is also reported to have said that hurricanes in other parts of the Caribbean such as Cuba and the Dominican Republic had also helped the Quintana Roo tourism industry.

Of course, a strong tourism industry will feed through to a stronger real estate market. As more tourists visit and fall in love with the beautiful Riviera Maya coast at RE/MAX Investment Properties we expect that more will also look to buy property here. Especially given the strength of the US dollar against the Mexican peso at the moment.

The economic crisis creates many challenges, especially for the real estate market, but given positive news such as this, there are also many great opportunities on the horizon.
Author's Tip: some of the best deals in the area are currently to be found in Tulum, such as residential lots from as little as $25,000 USD. For more information, take a look at tour website information on Tulum real estate.

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