The success of the Playa del Carmen real estate market is very closely tied to the area's tourism industry; for this reason it is important news that early 2011 has seen a marked increase in spending from tourists, indicating an increased potential for growing investment.
The recovery and growth of tourism in Mexico is a reality and in 2011 it is moving towards consolidation, and is well on its way to becoming one of the most significant sources of revenue and income for the country. Analysts predict that within 10 years would be the third largest source of revenue for Mexico.
The current upward trend in spending among visiting tourists is an important point in Mexico's tourism recovery after the recession; 2010 saw a significant increase in tourist numbers returning, but spending per tourist was still significantly lower. This fact actually points to one of Mexico's main draws since tourists as well as expat residents can still afford to visit, live in and buy real estate in places like Playa del Carmen, despite having a lower budget or economy-related financial constraints.
The return of higher spending, however, indicates that those investing in Playa del Carmen homes for sale or condos can look forward to improved income generated from rental income. It also means further investment in businesses and services, which in turn improves the quality of life for American and Canadian expats.
The benefits also go beyond to benefit Playa del Carmen as one of Mexico's fastest growing real estate markets. Even investment in Playa del Carmen land for sale will benefit as the city continues to grow and demand for new development and real estate opportunity increases; land for sale in gated communities has the potential to increase significantly in value with a home constructed. Some investors are also looking to the non-beach side of the highway, where much of the city's growth is going to take place during the next 10 years. Some land in this area has seen up 20% value increase per year recently.
As for the role of tourism in the Mexican economy, figures show that it brought about 9% of the Gross Domestic Product (GDP), or about 3.5 billion USD, during 2010. Some analysts estimate that it will take between eight and 10 years for tourism to be the second or third largest generator of foreign income in Mexico.
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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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