Foreign investment grows in the Mexican tourism industry

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Foreign investment grows in the Mexican tourism industry
Mon October 07, 2019

At the end of this year, with 22 thousand new hotel rooms, the country will consolidate its seventh position worldwide in hotel infrastructure


In the first half of this year, foreign direct investment in the tourism sector was 507 million 700 thousand dollars, a figure of which 24.7 percent corresponded to the hotel sector, said the Secretary of Tourism of the Government of Mexico, Miguel Torruco Marqués .

When closing the Fourth Forum of Expansion of Hotels and Resorts yesterday, the head of the Ministry of Tourism said that these more than 507 million dollars are equivalent to 2.8 percent of the total foreign direct investment captured in the country.

With the presence of John McCarthy, founding partner of “Leisure Partners” and president of the Forum for the Expansion of Hotels and Resorts, Secretary Torruco Marqués said that by the end of this year 22 thousand new hotel rooms will have been built in Mexico, what the national inventory will amount to 833 thousand rooms, 2.7 percent more than in 2018; as well as 23,232 lodging establishments, 3.0 percent higher than last year, which will strengthen the country in the seventh position in hotel infrastructure worldwide.

In this event organized by “Leisure Partners” and “Mykar Events”, which seeks to exchange ideas and points of view on the panorama that the Mexican tourism industry has and its investment possibilities, and that brings together entrepreneurs, investors and strategic suppliers In the sector, he explained that Mexico's tourism is experiencing times of change and, therefore, interesting challenges to face and valuable opportunities to take advantage of, to keep our country as a competitive nation and a world-wide power.

"The changes should not worry or scare us, much less in activities such as tourism, always vulnerable to external factors and whose own dynamics throughout its history has accustomed us to constant renewal," he said.

He added that in the government headed by the president of Mexico, Andrés Manuel López Obrador, tourism policy, with awareness and social dimension, is focused, among other tasks, to address social lags, marginalization and poverty, because this generous sector has a debt with the local population of the 134 tourist vocational places in the country.

He said that for this reason it is important that Mexico's tourism activity maintains its current growth rate in its main indicators: currency capture, arrival of tourists, investment and employment.

“In this sense, we promote and provide all our support to tourism investment projects, with special emphasis on those related to hotel investment, since the hotel industry represents 28.3 percent of the Gross Domestic Tourism Product and generates 84 percent of employment in the sector, since each hotel room means 1.5 direct and 3 indirect jobs, ”he said.

Secretary Torruco Marqués added that in order to strengthen the tourism sector it is necessary to extend the stay of our visitors, creating more and better products, which are interesting and innovative, and offer an indelible experience.

He explained that, however, it is important to note that the offer of a tourist destination is not only constituted by the sum of products, but by its proper integration, and that is how the Ministry of Tourism joins efforts with the governments of the states and municipalities , as well as with an entrepreneur of the sector, for the incorporation of “Anchor Attractions” that allow the configuration of tourist circuits capable of triggering the local and regional economy.

To promote these products and to all destinations in the country, various actions are being carried out, such as the resizing of the “VisitMexico” platform, which will soon have completed its new format and with which the results of promotion through technological tools; and the "Operation Knock Doors" program, which recently began with a working tour in the People's Republic of China, accompanied by 21 representatives of the tourism sector, both from state governments and from the private initiative.

The head of Sectur reminded those present that at the end of 2018, Mexico was ranked seventh in the world in receiving tourists and in the sixteenth place in currency capture.

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