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Readers of this blog will know that the tourism industry in Mexico is doing better than ever, with past blog entries pointing out that 2016 is set to hit a new record for the number of people visiting. But don’t just take our word for it. Secretary of Tourism Enrique de la Madrid has now said the exact same thing, citing the 6% growth in tourism in the first 5 months of 2016 as proof that this is one of the driving forces in Mexico’s economy. 14 million international tourists have arrived in a 6-month period, with over 8 billion dollars being spent during the time of their visit.

The Secretary made these statements while delivering a speech at the “ERA Familiar Princess 2016” in the city of Acapulco, Guerrero, saying that the country “offers reliability and stability, so investors see Mexico as one of the best destinations to invest and conduct business”. He acknowledged that Mexico does have the reputation in the world as having a volatile economy or being financially unpredictable. So, what makes it the go-to choice among investors worldwide? The country has minimal inflation over the last years and is currently in the process of financial restructuring, making it a macro economically stable country.

De la Madrid went on to back his statements with some numbers, saying that this is due to investments made over the last 3 years. 110 billion dollars have been made by foreign investors, which is a 60% growth compared to what was registered on the same period over the last administration. This could lead to 10 thousand new jobs and larger paychecks, adding to the 2 million new jobs over the last 3 years, which have moved Mexico up to 57th place on the Global Competitiveness Index 2015-2016 on the World Economic Forum. The Secretary claimed this was due to the efficiency of the financial market, innovation and the sophisticated way to do business.

In conclusion de la Madrid said that “tourism has a steady pace which has led the country to regain its role as a worldwide competitive force and is also one of the sectors with the most dynamic economy in the country.” Investors in the US who wish to see the creation of more jobs back home should realize that by putting their money in Mexico they can set up manufacturing plants south of the border and take advantage of the benefits that this current boom offers.

If you’d like more information about living in Playa del Carmen or are interested in purchasing property here, we invite you to visit our main website where you can search further. Please get in touch with one of our agents who will gladly assist you in any questions you might have.

And remember, at Top Mexico Real Estate…

we make it happen!

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The Mexican Will

The Mexican Will

September is will month and in Mexico there is a program called the September Will Month in which they make an effort to encourage people to have a will. In Mexico if you do not have a will for your heirs to acquire the rights to your property it makes things very difficult. To encourage everyone to be protected the government created this program in which they dramatically reduce the price of the will. The cost is usually between $50-150US. This applies to all of Mexico. Normally they extend this to October, but September is the official month for this program. With July almost coming to an end, you have just enough time to think if you would like to make a will in Mexico, provided that you already own a property in this country.

In order to get a better understanding of how this works I spoke to Gerardo González, who is an attorney and senior partner at Mexlaw, a Playa del Carmen based law firm. Gerardo is a graduate from the Interamerican University for Development in Merida and has experience in corporate law, labor law and notaries.

If I have a will made up in Canada or the US does that protect me as well?

You could probate the will that you already have in the US or Canada, we have several agreements with these countries that allow Mexican authorities to recognize the legal figures of those 2 countries. If you probate your will in Canada or the US you could send the proved document to the Mexican court, they will get the instructions for the next steps to be taken. Also you can create a Mexican will for a specific property to use specifically for inheritance to your heirs. Normally foreigners buy through a bank trust or a Mexican corporation. In the bank trust there is a part in the deed that you appoint heirs. Basically you tell the bank in case you die who should receive the rights to the property. If something happens to you there’s a process to follow for your beneficiaries to acquire those rights with this property. I always recommend to have the same person as a beneficiary on the deed of your bank trust and your will. Sometimes a person has a will, comes to Mexico via land and appoints someone else. To avoid any legal disputes, you should have the same beneficiary as your beneficiary back home in Canada or the US.

What happens if there are different names on the will and the bank trust?

This would be a litigation dispute, you need to take those documents and compare them to see who is going to have the rights. To avoid that, I recommend using the same names in order to avoid litigation. If they have a property here in Mexico and not back home in the US or Canada since they sold everything it would be better to have a Mexican will to avoid going to the courts of both countries.

If you’d like more information about living in Playa del Carmen or are interested in purchasing property here, we invite you to visit our main website where you can search further. Please get in touch with one of our agents who will gladly assist you in any questions you might have.

And remember, at Top Mexico Real Estate…

we make it happen!

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Anomalia: Playa del Carmen’s Newest Adventure Game

ANOMALIA

Last week Top Mexico sent a 3 man team to downtown Playa del Carmen to try out an intriguing new adventure game called Anomalia, which is a live interactive escape game and the first of its kind here. We couldn’t wait to give it a try, and despite not knowing exactly what we were off we went with the spirit of adventure in us and eager to test ourselves. Upon arrival we were greeted by Nik, who is one of the owners. After some quick greetings and introductions, we settled in for a quick briefing as to how the game works.

The setup seemed simple enough, although in practice it would prove to be much more challenging. It’s a game designed as quest of sorts, following in the footsteps of an archaeologist who has been studying the Maya culture. In order to win the game, we needed to find hidden clues which were strategically placed in each of the rooms that allowed us to solve the puzzles. They would ultimately reveal the room’s secrets and allow us to escape. If you’ve seen the Indiana Jones films, you’ll have some idea of what is involved.

On many occasions we found ourselves acting much like kids, using a tactile approach and feeling our way around the various objects in the room. It really does involve a mix of of logic, intuition and imagination, since you are not told specifically what you must do. However, the odd time that we did get stuck we were able to call out for help and a voice would come through on the intercom to keep us on track and provide some much needed assistance.

Related: Xcaret Named Among Best Theme Parks in the World

The details of how each puzzle works must be kept secret of course, for we do not want to ruin the surprise, since that is a big part of the experience. We had one hour to complete the game and emerge from the exit, which we did with only a minute and a half remaining. There are other teams who have done much better than this, so perhaps you might be capable of setting a new record.

The costs of a game will depend on what day you go, as well as the hour. For a team of 2-4 persons the price is from 990 MXN pesos to 1490 MXN, but check the website for more details. You can find Anomalia in downtown Playa del Carmen on Av. 10 Norte, between 12 y 14, just around the corner from Coco Bongo. Just look for the Wings Army restaurant, the are right above it on the 2nd floor. For further information, contact Nik +52 1 (984) 147 6655 or email  playa@anomalia.mx

Anomalia Adress

When the game is complete you’ll have your team photo taken and placed on their Facebook page for all to see, and you can compare your time with that of other participants. I highly recommend it, and no doubt you will find it as challenging as we did.

TMRE Team

If you’d like more information about living in Playa del Carmen or are interested in purchasing property here, we invite you to visit our main website where you can search further. Please get in touch with one of our agents who will gladly assist you in any questions you might have.

And remember, at Top Mexico Real Estate…

we make it happen!

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paul sanchez navarro

Last week local Riviera Maya website Loco Gringo featured a special guest on their regular podcast who provided some excellent advice about environmental awareness in the Riviera Maya. Paul Sanchez Navarro has worked in Mexico City and Switzerland on environmental policy with the Xcaret Named Among Best Theme Parks in the World and is currently with the Ecological Center in Akumal (CEA).

In his 12 years he has grown to love the mix of the coastal eco-system here, noting the mix of mangroves, wetlands, coral reefs, bays, and cenotes among the things that makes it incredible. He currently works for the Mexican Organization of Environmental Conservation (MOEC) public policy and creating an educational framework to help citizens participate in the sustainability process.

Paul pointed out that the Riviera Maya has two distinct local communities; Mexicans who are native to the region or have come here for work and the Expat community comprising foreigners who have made this their home.  He had some advice for those who understand the value of the environment but are not sure what steps to take to conserve it. For the many here who have incredible passion for the future health of the ecosystem the big question is “What can I do to make the future viable?”

Related: Love the Environment? Love Mexico? Get the Best of Both!

One of the things that Paul strongly recommended was to start using biodegradable sunscreen. He stressed how important it is, given the toxic nature of regular sunscreen and the role it plays in polluting the water.

Suntan lotion has chemicals that are disruptors of the genetic processes of marine life and will actually inhibit the way corral grow. This applies especially to the cenotes, because whatever you put in the cenote will eventually end up in the ocean.

Another point that Paul makes is in regards to the treatment of animals, such as in Akumal that draws many visitors who want to see the turtle population that inhabits the area, but many are intervening in the turtles’ lifestyle. These creatures have to eat without stress, so please give them their own space, and do not sit on them.

Also, it’s best to not take photos with wild animals on the street, many are obtained illegally and then drugged to keep them docile day and night. We need to see them as living beings that deserve our respect, and learn to coexist with them rather than use them as a photo op.

Related: Mexico retirement activities;  Snorkling for Turtles in Akumal

This is a beautiful peninsula where you can play a part in environmental awareness and prevention by becoming more aware of what the issues are. By taking basic steps to not contribute to the negative impact on your surroundings, even seemingly small actions can have a big impact on the ecosystem around you.

If you’d like more information about living in the Riviera Maya or are interested in purchasing property here, we invite you to visit our main website where you can search further. Please get in touch with one of our agents who will gladly assist you in any questions you might have.

And remember, at Top Mexico Real Estate…

we make it happen!

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Mexico Shows Boom in Tourism in 2016

Foto: Internet

Foto: Internet

2016 is turning out to be a very good year for tourism in Mexico and it doesn’t appear to be slowing down anytime soon. According to the Tourism Board there has been a growth of almost 10 percent in the first three months, with the rate of increase greater than anywhere else on the world.

Last month The Riviera Maya News reported that Canadian tourism to Mexico has also seen a major spike already in 2016, primarily in Cancun and across the Riviera Maya, with an increase of over 20 percent.

In 2006, there were 9,728,149 national and international visitors who passed through Cancun International Airport, rising up to 19,596,485 in 2015. By the time 2016 has ended the numbers will likely be much higher.

Related: Mexicans Will Soon Travel to Canada Visa-free

This spike in tourism is great news for owners of property here Mexico, with vacation rentals on the rise. Here in the Riviera Maya, the highest occupancy rates were in Playa del Carmen’s, inside of the private residential development of Playacar.

If you own a house or condo here or in the downtown area your chances of keeping it rented out on a regular basis is very good.

Not all visitors are interested in staying in hotels or resorts, and there are countless number of small groups who prefer to save money by sharing a home which will keep them close to where the action is, along with the added benefit of doing ones shopping for food.

Another factor affecting the boom in travel has been the drop in value of the Mexican peso. The US dollar keeps getting stronger and offering more buying power here, something which has being going on since 2015.

While plane tickets may not be necessarily cheaper, once you get to Mexico everything is noticeably cheaper. Food, drinks, entertainment, tours and even shopping- once you have traded in your dollars at one of the local exchange houses you’ll see how much more you receive now than in the past.

Related: Strong US Dollar Makes Retiring in Mexico Very Attractive

Mexico is one of the world’s top 10 most-visited countries for tourism, and has even moved up to fifth place among Latin American nations chosen by American investors.

Hotel occupancy rates in Mexico this quarter for 2016 are at the highest ever recorded, and with new resorts, hotels, developments and condos being constructed here from the Pacific to the Caribbean it is unlikely that the numbers of tourists coming here will drop anytime soon.

If you’d like more information about living in the Riviera Maya or are interested in purchasing property here, we invite you to visit our main website where you can search further. Please get in touch with one of our agents who will gladly assist you in any questions you might have.

And remember, at Top Mexico Real Estate…

we make it happen!

Live It Tour

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