In June 2011, a report was released showing that Mexico’s tourism had increased significantly during the month of May – and this has not been the first report of its kind, or the last. Mexico is making a big effort to promote itself internationally and increase tourism. For Mexico real estate markets such as Playa del Carmen real estate in North America, this is a really good thing!
Why is this a really good thing? There are several reasons:
Investment & Services – One very important reason is that increasing tourism draws increased international investment; this means that there will be more golf courses, more shopping centers, more new road, more theme parks, more restaurants (with more variety), etc. – in short, more of just about everything that makes life in Playa del Carmen attractive. While tourism doesn’t bring “more beaches,” it did, in fact, justify the spending of millions of dollars to widen those beaches last year!
A specific service which can be seen growing is that of flight options. The airport which serves Playa del Carmen is Cancun International Airport. This is Mexico’s second largest airport and is gaining new flight connections and new airline options on an ongoing basis. Examples of this include a new direct flight to Paris from Air France (to be operating later in 2011) and yet another connection to Miami from Aeromexico.
Folks from back home - Mexico remains the most visited country by Americans, and Americans are the biggest group of visitors to Mexico. According to Mexico’s Department of Commerce, the country has a market share of 14.7 percent. A large number of visiting Americans means that there will continue to be a large presence of Americans in Playa del Carmen and more people interested in buying real estate. Having neighbors around from back home is always nice!
For anyone renting out their Playa del Carmen beachfront property, this means there is also a larger rental market available. Higher demand means higher prices and less “down time” in the rental; this amounts to a better income.
Diversity of investment
While Americans still remain, without a doubt, the largest group, the largest percentile increase in tourism came from a variety of countries such as from Canada, UK, Russia, France, Brazil, China, Colombia, Korea, Australia and other nations. Two of the countries with the most significant increases are the U.K. and Canada, with over 15% increases each; while they’re not quite from “back home” the fact that they speak the same language still makes things easier!
This means that, if American tourism should ever take a dip, Playa del Carmen is in a good position to keep reaping funds from tourism investment. “Don’t put all your eggs in one basket,” as the saying goes.
In general, Mexico’s tourism growth is a very good thing for Playa del Carmen’s real estate market. As tourism in this country continues to grow, Playa del Carmen real estate owners can expect to see good things.
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