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 Business News | July 2006 
SECTUR - The Private Capital Goal is Surpassed
 Roberto Jimenez
The amount of private investment in Mexico's tourism sector during this administration may surpass a total of 12 billion dollars, 30 percent more than the goal set at the beginning of the administration, according to estimates by the Ministry of Tourism (SECTUR).
The Ministry revealed that the goal set for nine billion dollars was reached in May with a total of 11.607 billion.
For the Ministry, the results put in evidence the confidence Mexican and foreign investors have in a country that offers alternatives for profitable projects. According to six-year results released by SECTUR, the trend since 2002 has been a minimum 12 percent growth a year in private capital invested in the national tourism sector.
Furthermore, upon comparing figures between January and May of this year with the same period in 2005, there is a 26 percent increase.
Nevertheless, the Ministry acknowledges that the challenge now is to enhance the quality and quantity of the offer, to consolidate Mexican destinations and diversify the national tourism product, to make the most out of the infrastructure, and arouse the interest of tourism investors.
THE THREE MOST BENEFITED STATES
It is worth mentioning that Guerrero, Quintana Roo and Nayarit are the states that have been most favored by private sector investments, receiving about 52 percent of the total during this administration.
Guerrero received two billion 625 million dollars from 2001 to May 2006, while Quintana Roo received two billion 496 million dollars and Nayarit 924.7 million.
Besides, some tourist destinations in particular received the majority of the investments in their states, as in the case of Acapulco with 89 percent of the Guerrero total; Cancun and Riviera Maya with 82 percent of Quintana Roo's total and Nuevo Vallarta with 60 percent of the Nayarit total.
As for the kind of destinations that received the greatest proportion of private capital during the Fox administration, beaches received 48 percent of the investment according to statistics released by the Ministry of Tourism.
Furthermore, the 11.607 billion dollars invested throughout the six-year administration were spent in 1,598 different projects, of which 49 percent were hotels.
As for the origin of private investment, about 75 percent of the investments made in the tourism sector, 8.706 billion dollars, were made by Mexican businessmen.
Therefore, the remaining 25 percent, 2.902 billion dollars, were foreign, mainly from the United States and Spain.
HOTEL INVESTMENTS
The Ministry of Tourism also reported that by the end of last year, the Mexican hotel industry had a little more than 535,000 rooms, and the investment last year was 650 million dollars, which made it possible to create more than ten thousand direct or indirect jobs.
The Ministry acknowledged that tourism businessmen have done their part while the government sector has taken a series of actions, mainly to diversify air routes and increase flight frequencies as well as back the consolidation of low-cost airlines.
The Ministry impelled the country's hotel industry to strengthen and transform domestic destinations with a world-class standard of quality so tourists will have unique and appealing experiences.
This requires planned consensual strategies as well as lodging facilities and services in keeping with this far-reaching model. |
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