The director of the Riviera Maya fedeicomiso, David Ruiz Cuevas gave a few words during a breakfast meeting in Playa del Carmen last Friday morning Tourism is one of the strongest and most rapidly growing business sectors here in Mexico (Mexico Tourism)
It is projected that within 5 years it will become Mexico`s number one revenue source for jobs and incomes, for the country, not just for this state Here in Quintana Roo, the government is poised and preparing for this continued boom in the Mexican Caribbean The Playa del Carmen real estate market, investors, developers, and many Mexican foreign business people are also closely monitoring the indicators within this industry
The director of the Riviera Maya fedeicomiso mentioned that Quintana Roo has created approximately 5 trusts or organization dedicated to the promotion and implusing the tourist activities in the regionSuch a trust exists for Chetumal, Cancun, Isla Mujeres, Cozumel and the Riviera Maya
The Riviera Maya fedeicomiso started in 1996 whose funds are captured from taxes paid by the hotel rooms A portion of the monies are designated for the administration but the majority of the monies go towards the promotion and advertising of this world known tourist destination If you are one of the tens of thousands of Mexican foreigners who have invested in Playa del Carmen real estate, this organization and their functions are very important and quite interesting Rentals can jump 15 – 25 percentage points or more annually with a succesful marketing campaign from this organization which also plays positively with Playa del Carmen real estate appreciation, if the trends can continue on a constant basis.
The Riviera Maya trust basically promotes the Playa del Carmen market to USA and Canada, to Europe and Asia, and to Mexico and Latin America These are the division of the markets which the trust administers The organization is in charge of administering and promoting annual events such as the Jazz Festival coming this November
Because of the incredible and beautiful natural attractions such as the Caribbean beaches and cenotes, and the strong projected growths of visitors to this area in the 10 years, multi national companies have been investing in record quantities money and construction of mega resorts For example, in 1997 there existed approximately 4,000 hotel rooms today, 2008 a record 35,500 rooms exist! This surpasses the amount in Cancun, and another 2,800 rooms are planned to open by the end of the year!
This brings up a few questions What are the Playa del Carmen trends for the occupany rates and trends for Playa del carmen tourist volumes given this boom in hotel room inventories In 2007 the volume of tourists visiting the Riviera Maya zone was 2,800,000 people! At present count, for 2008, the volume has already passed last years record with 3,000,000 visitor record! Projection is for the zone to reach 4,000,000 per year within 5 years
Will the Cancun airport have the capacity to support such strong projections This is why the government is closely supporting and initiating the introduction of a new international airport to the region designated for the Tulum region As well, the Cancun airport is also gearing up for all of these visitors by expanding their operations (SEE BLOG) In my opinion these are some of the main factors that has made the Real Estate market here in the region some of the hottest in the Americas and maybe even some of the strongest markets of the worldYet, a few factors that we need to watch closely and which are hampering the growth,US economy and the oil prices Which, opens up opportunities as well,WRITE TO ME to discuss and learn more of investment potentials during the world downturn and how this has created some opportunities in the Riviera Maya region
Thomas Lloyd www.TOPmexicorealestate.com
(512)879-6546
