In Mexico, the international real estate industry is closely tied into the international tourism industry, which attracts the cash flow and investment for services, activities and conveniences, such as restaurants, golf courses, marinas, shopping areas, excellent roads, and much more. The good news in this area is that so far in 2010, Mexico is showing a sure recovery from the recession, which brought fairly low numbers in 2009.
Areas which promise to see benefits from this include Baja California and the Pacific Coast, with thriving markets such as Ixtapa real estate, Puerto Vallarta, Mazatlan and La Paz real estate. Also on the Yucatan Peninsula, markets such as Campeche, Merida, Cancun, Playa del Carmen, Tulum, Costa Maya and Cozumel real estate will enjoy positive effects from recovering tourism.
The tourism recovery can best be noted in the statistics from the month of March, a high point in tourism traffic. During this month 7.87 million international tourists (largely Americans and Canadians) visited Mexico, each spending an average of $169 dollars, for a total of $1.3 billion of tourism revenue, an increase of 6.6 % over March 2009. The average spending of $169 dollars per visitor is a 5.6% increase from last year.
The benefits for retirees or families choosing to buy real estate and live in Mexico is reflected directly in the fact that medical tourism contributed greatly to this growth, with an increase of 8.7% from 2009; medical tourism both reflects the already existing quality of hospitals in Mexico, which the World Health Organization ranks on par with U.S. hospitals in terms of private facilities, and brings further funds to this important service. Retirees and families can live in Mexico with the comfort of having world-class health care available for a fraction of the cost of that in the U.S., offering high-quality and fast service with virtually no waiting lines.
Real estate buyers in Cozumel and Costa Maya especially, but also in the Pacific coast locations, will benefit from the increase of cruises to Mexico, as passenger numbers increased significantly, reaching 720 000, an increase of 13.6%. These two locations are especially tied into the cash flow generated buy cruises, and many real estate buyers first visit the area on a cruise.
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Region: Playa del Carmen real estate.
Thomas Lloyd graduated from Purdue University Krannert School of Management with a degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 15 years. A Mexican Certified Realtor he is the current president of TOPmexicorealestate, you can contact him at (512) 879-6546.
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