Its booming tourism remains one of the most important sectors of the Mexican economy with over 38.3 million foreigners visiting the area (INEGI, 2022). Cancun and the Riviera Maya are one of the highest-concentrated areas for tourists, opening up an amazing opportunity to buy an investment property in Mexico.
Playa del Carmen and Tulum have been growing exponentially over the past few years, attracting interest from the media and, in return, helping Mexico real estate become one of the most interesting investments available worldwide.
The interest in the Riviera Maya has been such that real estate projects have been developed to suit all types of investors and homeowners. The market expands from properties for millennials to baby boomers, offering from single-family homes to luxury beachfront apartments, and everything in between.
Investing in the Riviera Maya is perhaps the smartest way to put your money to work. Its location, lifestyle, and growing economy have made it a hub for foreigners looking to rent vacation, short-term and long-term. Moreover, the concept of vacation rentals has been booming over recent years, and vacationers are looking for a more home-like experience in exchange for the all-inclusive resorts.
The Riviera Maya continues to grow in popularity and as a result, inbound tourism (national and international) had an historic spike. Putting into perspective: in 2022 alone, 30 million inbound passengers were registered. That is 6.6 million more than pre-pandemic rates (2019). Showing a compound annual growth rate (CAGR) of 6.4% even after a global sanitary emergency. Placing Cancun International airport on the top 10 busiest terminals according to the Airports Council International (ACI).
Moreover, a newly launched international Terminal 4 at the airport has also opened up numerous new routes and flights ensuring a higher rate of tourism entering the region.
Cancun Airport - Number of passengers per year
Over the last four years the general occupancy in the Riviera Maya has fluctuated due to the sanitary restrictions imposed in many countries. However, Mexican borders remained open to tourism and in a matter of 3 years, the Riviera Maya climbed out of an economic trough in the most spectacular manner. Reaching close to 76% of occupancy in 2022, it regained little under 10% from pre-pandemic figures.
General Hotel Occupancy in the Riviera Maya
For investors looking to make a bang on their buck from vacation rentals, stats such as this one are great news. Cancun and the Riviera Maya have a high percentage of foreign tourists, which spikes their possibilities of renting out their vacation homes not only during peak seasons, but year-round.
"There are plenty of opportunities to invest in the Riviera Maya. Depending on your strategy you can invest in development and construction or in an income-producing property. Even investing in land for appreciation is an option, as the prices in the Riviera are continually rising."
> Historic tourism statistics
> Occupancy percentage
> Number of tourists in this destination
> Main productive market
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