If you have been keeping an eye on Mexico Real Estate area’s growth, you cannot help but notice that Cancun Real Estate is not just areas number one beach destination but has also emerged as an international travel hub and a preferred destination for business conventions. Cancun has over the years beefed up its infrastructure and amenities thanks to which it has now acquired an important place in the Mexico and Latin American region.
As an indicator to its increasing importance and clout, annual meeting of the Inter-American Development Bank (IDB) was held in Cancun recently. More than 1,500 registered guests attended the meeting of the IDB. They met in Cancun Convention Center. End of March will mean a heavy influx of visitor to Cancun as thousands of American and Canadian university students on their spring break will also visit the city.
Despite the last year’s slowdown, Cancun ‘s tourism industry has bounced back with a vigor and confidence. Though, Mexico was one of the hardest hit countries due to a string of unfortunate events such swine flu scare, global recession and negative press regarding Mafia, Cancun steadily worked on developing its infrastructure and amenities and positioned itself as the one of the first regions in the area to emerge even stronger. With a renewed beaches and better infrastructure, Cancun is one of the leading tourist magnets in the region.
According to data from the Cancun Hotel Association, of the total 28,500 hotel rooms, about 74% are currently occupied. This figure is expected to increase in the coming months due more tourist inflow.
The meeting had a special significance since, as IDB President Luis Moreno observed, “the first IDB loan for tourism was granted to Cancun during its construction where “the funds were used to build an airport, a port and the first hotels in the city.”
The IDB meeting marks an important anniversary of boosting real estate for international investors in this region and aiding in the development of Real Estate in Mexico in recent decades. The meeting also reflects Cancun ‘s emerging role of being an international convention hub an achievement which promises to bring further growth to the region’s real estate industry.
This continued growth in tourism is a positive signal for Mexico Real Estate investors. The real estate market has got an extra dose of confidence which means that condos in Cancun will continue to be a hot choice for buyers and the region will be supported by an ever expanding urban infrastructure, with well maintained and expanding road network, shopping malls, restaurants and other facilities.
Author: Donna Nocero