As Mexico’s new National Agreement begins to translate into real actions, reports show that the government’s verbal commitment is being followed up by strong investment into the industry; this is good news for the Puerto Vallarta real estate market and others in the Pacific area.
The Mexican Federal Government’s National Agreement on Tourism (ANT) was signed on February 28 by President Felipe Calderon. The agreement is a commitment for the three levels Government, as well as academic, economic, political and private organizations to boost tourism in Mexico.
Since the president signed the agreement, the Federal Ministry of Tourism and other involved ministries have dedicated 1.7 billion pesos (about $155 million USD) to tourism infrastructure projects, as well as another 300 million pesos (about $27 million USD) to various other branches of tourism investment.
These are significant funds and show that the government’s signed agreement is more than just a government concept; it’s a dedication to real action and investment into the tourism industry. On Mexico’s Pacific coast, the real estate industry in several of the leading markets is closely tied to the success of tourism. Puerto Vallarta, which has been one of Mexico’s most successful tourism and real estate areas for Americans and Canadians since Hollywood made the location famous in the 50s, is a prime example of this, and is sure to reap many benefits from the new investment projects.
Other examples include La Paz real estate, which is located on the Baja California Peninsula. This area has also been a favorite decades, and has continued to draw large-scale investment into lifestyle appealing to expats, such as recent professional golf course.
Ixtapa real estate, also on the Pacific Coast of the mainland, is tourism and real estate area which combines the modern convenience of Ixtapa – Mexico’s second Integrated Resort Community, after Cancun – and the historic charm of Zihuatanejo, only about 10-20 minutes away.
As tourism increases in Mexico on the whole, the Pacific areas such as Ixtapa, Puerto Vallarta and La Paz, are sure to receive new infrastructure, increased tourism and an improving lifestyle for real estate buyers.
These factors also help contribute to property values, supporting those who buy real estate in Puerto Vallarta and other Pacific communities as an investment, or simply those who buy vacation properties and need to resell in the future.
The first report on the progress of the National Tourism Agreement is good news for real estate buyers, who can look forward to further investment and seeing real results emerge over time.
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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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