Foreign investment in the tourism industry grows in Mexico

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Foreign investment in the tourism industry grows in Mexico
Tue October 22, 2019

The foreign direct investment that has been registered in the Mexican tourism sector during the first 6 months of 2019, shows the greatest growth that has taken place for the first half of the last ten years

 


The Secretary of Tourism of the Government of Mexico, Miguel Torruco Marqués, participated in a panel discussion during the Business Summit held in Cancun.
The current Federal Government seeks to consolidate the country as a tourist power, with well-being and a fair and balanced development.
He also said that with the Renace Mexico Sustainable strategy, the concept of “sustainability” is being incorporated into the entire tourism value chain.

Miguel Torruco Marqués, said that from January to June 2019, foreign investment in this industry grew 68.4 percent, compared to the previous year, the largest increase recorded for the first six months of a year in the last decade, as already Indian.

He argued that in recent years, Foreign Direct Investment in Mexico has not decreased and, as an example, he recalled that the accumulated in this line from 1999 to the third quarter of this year reaches 21 billion dollars.

He affirmed that FDI for the period January-September 2019 is estimated at 624 million dollars, which represents three percent of all Foreign Direct Investment in the country.

The head of Sectur shared this panel discussion with the co-president of Grupo Barceló Spain, Simón Pedro Barceló; with the president of the Spanish Confederation of Travel Agencies, Rafael Gallego Nadal; and with the director general of Interjet, William Shaw, before whom he said that in Mexico the development of tourist sites will be encouraged through public investment, so that there are no current contrasts between luxury hotels and marginalized colonies, since This directly impacts positively on the investment stimulus.

"We will make Mexico an even more attractive country for tourism investment, because it will work to preserve the environment and preserve its identity, history and culture," he said.

Speaking about the national tourism strategy for the six years of the current administration, the official said that the Federal Government seeks to consolidate the country as a tourist power with well-being and a fair and balanced development, under the following premises: promote a social approach and inclusive, what becomes an instrument of social reconciliation; promote balanced regional development; diversify tourism markets; and promote sustainable tourism.

Torruco Marquéz said that to achieve these objectives, the following actions are being carried out: a social approach, with accessible and inclusive tourism, with the Smiles and Enjoy Mexico programs; a regional development balanced with the Mayan Train, the impulse to Huasteca Potosina, the creation of Anchor Products in various parts of the country, and the urban improvement of the main tourist destinations, in a coordinated manner with the Ministry of Agrarian, Territorial and Urban Development .

Likewise, the diversification of markets through the Operation Knock Doors and Reunion with my Roots programs, in addition to the creation of the Tourism Diplomacy Council; and, finally, a sustainable tourism, with a strategy aligned with the objectives of sustainable development as a means for the use, conservation and expansion of cultural and natural heritage, in coordination with all levels of government and citizens in general.

However, Secretary Torruco Marqués stressed that there are some obstacles to face, such as that the previous tourism model was focused on macroeconomic indicators, such as Gross Domestic Product, jobs and occupation, but these are not reflected in the social development of populations of tourist destinations.

With the managing partner of Alemán Velasco y Asociados, Lorenzo Lazo Margain, as moderator of the panel, Torruco Marqués put special emphasis on the work on the preservation and conservation of the natural and cultural resources of Mexico, in which inclusion and sustainability They are basic aspects.

"Inclusion is a fundamental element, we are working on inclusive tourism strategies and excellent services that meet the highest international standards," he said.

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