Infrastructure Investment Boosts Tourism SectorBy Lorenzo Núñez | Thu, 06/03/2021 - 17:53
The tourism industry is slowly and steadily recovering from the pandemic through infrastructure investments. And with the pandemic apparently coming to an end, despite the slow vaccination progress in Mexico, tourism seems to be in a good place to move forward. In addition, The Ministry of Tourism reports that Mexico has been awarded 94 Blue Flags across the country.
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The tourism industry is perhaps one of the most negatively impacted by the pandemic, after international and national flights ground to a halt, while social gatherings were prohibited by most governments as safety precaution. While it was one of the first industries to suffer during the pandemic, its recovery, while slow, seems to be underway as every investment has the potential of creating thousands of jobs. The sustained demand in real estate hints that it would take a lot more than a global pandemic to take Mexican tourism down.
In an effort to strengthen the e-commerce industry in the state of Mexico, BTS Development is building the Campus Cuautitlán I Industrial Park, expected to generate 450 jobs during its construction phase and total up to 1,500 once it starts operations. The industrial park aims to develop the goods and services purchasing industry of the State of Mexico. This sector has increasingly grown during the COVID-19 pandemic thanks to the rise of e-commerce. The project has an investment of over US$50 million with over 91,000 square meters. The company´s website does not mention a starting date.
The US-Mexico Environmental Program: Border 2025 is a five-year (2021-2025) binational effort designed to “Protect the environment and public health in the US-Mexico border region for the long-term economic, cultural and social well-being of present and future generations, and acknowledge the importance of engaging with these groups in the long-term conservation of the environment,” explains EPA. The border area’s population growth is expected to double over the next 20 years, fueled in part by dramatic industrial growth. This would mean serious challenges concerning water availability, waste management and air pollution.
Mexico has been awarded first place in Latin America under the Blue Flag certification and earned tenth place out of nearly 47 participant countries signed in the program. The program rewards and recognizes beaches and marinas that achieve outstanding environmental management.
The Ministry of Tourism reported that Mexico had been awarded 94 flags across the country, including three marinas in two states, 29 boats in Quintana Roo, and 62 beaches across nine states. Miguel Torruco Marques, Mexico's Minister of Tourism, recognizes that the efforts will improve tourists' perception of the country. More importantly, the international certification will promote the sustainable development of the seaside environment.
Industrial Real Estate Demand is Set to Keep Growing
During the month of May of 2021, the gross demand for industrial real estate space in Mexico was 354,000 square meters (m2), giving a cumulative 804,000 m2 for the April-May period, according to figures from Solili, a real estate information platform. During the first quarter of this year (1Q21), total demand was 1.2 million square meters.