Since Playa del Carmen real estate is highly dependent on tourism, and since the area receives some of the largest tourism numbers in the country, it is good news for owners and buyers that Mexico is going going to invest a record amount into tourism for 2011.
In early November, 2010, The President of the Federal Tourism Committee, Rep. Carlos Joaquín, who is in fact from Playa del Carmen, welcomed the adoption of the Federal Expenditure Budget for 2011, which allots a historical amount for tourism spending, an overall increase of 24% in comparison to 2010, amounting to nearly 5 billion pesos (a bit more than 400 million USD,), of which 1.7 billion pesos will go directly to states and municipalities such as Playa del Carmen where tourism is strong with excellent potential to grow.
As a result of growing tourism, and with increasing investment both from the government and the private sector, Playa del Carmen real estate is projected to see ongoing healthy growth over the next 2 decades; during this past decade, Playa del Carmen has been one of the fastest growing communities in Latin America. In addition to bringing new opportunities to property investors, this kind of large-scale investment also brings new conveniences and services to those who buy simply to reside in the area.
Joaquín confirmed the direct benefits for Playa del Carmen, stressing that the newly increased amount will show results in particular in the quality of life for areas like Quintana Roo, which is home to Playa del Carmen, Cancun, Cozumel and Tulum. In addition to the benefits for the expat community, it will also help the local working class population through offering boosts in jobs related both to tourism and infrastructure. In the budget Quintana Roo has been designated to receive the most of any Mexican state, with an allocation of 110 million pesos (about 90 million USD).
The original budget proposed was about 18 percent lower than the total which was finally passed, increasing investment to the industry which brings some of the highest revenues to Mexico, and promises to be its strongest source of future income.
The fact that the amount is unprecedented shows that Mexico realizes the value of investing into areas such as Playa del Carmen, and intends to increase its focus on this type of spending. This points to long-term benefits for those choosing to reside in Playa del Carmen, enjoying an expanded and improved road network, more travel and flight options, new, innovative activities, and, in general a higher number of world-class activities and services.
Thomas Lloyd graduated from Purdue University Krannert School of Management with a degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 15 years. A Mexican Certified Realtor he is the current president of Playa del Carmen real estate, you can contact him at (512) 879-6546.