Tourism

Mexico’s dependence on the oil & gas sector has steered the economy for many years but the Energy Reform and low petroleum prices are making the country look to tourism to stay afloat. Mexico ranked 30 of 141 on WEF’s Tourism and Travel Report 2015 and SECTUR estimates that there are over 673,000 hotel rooms in Mexico. In the first five months of 2016, more than 14.1 million international tourists visited Mexico and spent more than US$8.38 million. If Mexico wants to attract more tourists, it has to upgrade its tourism infrastructure, especially in luxury developments. According to AMDETUR, luxury or premium tourism is Mexico’s largest area of opportunity, which has a had a constant growth rate of 7 percent annually. In Mexico, luxury hotels represent 24 percent of the total number of existing hotel rooms and over 10,700 rooms are being developed, equating to more than 54 percent of total tourism construction. This has also paved the way for the growth of mixed-use tourism developments that combine hotels, housing, exclusive restaurants and commercial centers.

Throughout this chapter, the largest tourism developers will allow a view into their realm to discuss the new tourism hubs, trends and the arising opportunities they have spotted with the support of the government in the last year.