Yucatán to Receive over US$73 Million in Tourism Projects

The Governor of Yucatan, Mauricio Vila Dosal, announced the arrival of 17 companies that will develop tourism, real estate and restaurant projects in the state.

Things are looking up for Mexico’s tourism industry in terms of investment and overall pandemic recovery. The Governor of Yucatan mentioned that the total investment from these 17 companies will amount to over US$73 million and generate over 4,800 jobs in the state. This is in addition to WTTC’s US$2.5 billion investment promise for Mexican tourism projects, as previously reported by MBN. During the 20th edition of the WTTC held in Cancun, Quintana Roo, there were a lot of statements regarding the pandemic and its effects in the infrastructure and tourism industries. Gloria Guevara, President and CEO of WTTC, said: “The seriousness of the impact of COVID-19 cannot be overestimated. WTTC research shows this crisis has been 18 times worse than the 2008 financial crash.”

Tulum and Playa del Carmen are also experiencing a real estate boom, furthering increasing tourism numbers, mainly through condos sales. Cancun and the Riviera Maya have undergone a 5-10 percent increase in rentals, as reported by MBN. According to the rental portal Inmuebles24 this part of Mexico is seeing real estate investment taking off. “Our allies in Cancun and Riviera Maya have told us that during the pandemic the luxury real estate market remained of interest to investors; the searches in the portal confirm this,” said Alejandro García del Río, Marketing Manager of Inmuebles24.

In addition to these projects, Governor Vila Dosal gave a list of future tourism investment projects in the state.

• Cenote Mukul will invest US$25 million in a sustainability project consisting of Villas (destination wellness camping sites in the cenote) that will create 1,780 direct and indirect jobs.
• Fincas Los Alamos will create the first residential development of 65 homes in the east of the state, integrating amenities and security with high quality handcrafted finishes. This is a US$13 million investment.
• Torre Zayanna, a 111-unit apartment complex in Valladolid, will have an investment of US$9 million and create 300 jobs.
• And many more.

The governor emphasized that with the pace of investment in the state "and the confidence that investors are having in Yucatan, surely, in a year and a half, we will have recovered," as reported by Inmobiliare.