Secretary of Tourism of the Government of Mexico meets with the President of Iberia

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Secretary of Tourism of the Government of Mexico meets with the President of Iberia
Fri January 24, 2020

For this airline, Mexico is its largest market in Latin America, with an offer of 662 thousand seats between Madrid and the CDMX

During his last day of work at the International Tourism Fair of Spain (Fitur), the Secretary of Tourism of the Government of Mexico, Miguel Torruco Marqués, met with the president of Iberia, Luis Gallego, with whom he talked about the increase in routes and frequencies of this airline to our country.

The head of the Ministry of Tourism said that the main objective of this meeting was the strengthening of connectivity between Mexico and Spain, since in 2018 the arrival of Spanish citizens to Mexican territory occupied the seventh position of the total number of tourists who arrived at our country, registering a growth of 2.4 percent over the previous year.

For Iberia, Mexico is its largest market in Latin America. According to information from the airline, last year its offer exceeded 662 thousand seats, 6.5 percent more than in 2018, with a passenger growth of 9.3 percent.

Currently, during the summer it offers two daily flights between Madrid and Mexico City, although they have operated up to three direct frequencies per day.

Iberia also presents Mexicans with more than one hundred destinations in Europe, Africa and Asia; while it has also grown in Mexico where, through an alliance with Interjet, it offers more than thirty destinations in the country that connect with its flights from Madrid.

Gallego said that Iberia has always tried to accompany the migratory movements in both directions, as well as the investment flows that have generated wealth and allowed the internationalization of many Spanish companies; and also to tourism, which is a great engine of the economy.

For his part, Secretary Torruco Marqués stressed the importance of the Spanish presence in the Mexican tourism industry, where he has invested mainly in the hotel sector. Currently, the destinations that concentrate these capitals are: Cancun, where they have 7,820 rooms; Riviera Maya, with one thousand 882; Isla Mujeres, with a thousand 148; Los Cabos, with thousand 882; Nuevo Vallarta, with a thousand 145; Mazatlan, with 716; and Cozumel, with 540 rooms.

He added that in 2018 the Spanish investment in tourism-related activities in Mexico reached 213 million dollars; while in the first nine months of last year it added 151 million dollars, positioning that nation as the second one with the greatest tourist investments in our country in the last 20 years.

He said that between 1999 and until September 2019, the accumulated tourist investment of the United States is 14 thousand 30 million dollars, which places it in the first position, followed by Spain with 1,935 million; Canada, with 1,716 million; France, with 730 million; and the United Kingdom and Northern Ireland with 523 million dollars.

The head of Sectur explained that to motivate Spanish investment in tourism in our country, the Mexican government has specific plans and incentives, such as immediate deduction tax programs and federal tax incentives for the acquisition of new fixed assets for companies that has no established permanence in the country. Accreditation of Value Added Tax (VAT) is one hundred percent deductible and Income Tax (ISR) is applied in specific percentages.

Regarding the banks that support tourism investments in Mexico, it has the support of the National Bank of Foreign Trade and National Finance, with whom the Tourism Secretariat recently signed a collaboration agreement with the objective of establishing the bases for both institutions jointly design and implement specialized financial programs and products and aimed at meeting the needs of the companies that participate in this sector, considering size, product line, demand segment, destination and region.

He argued that last year both financial institutions granted loans for 14,770 million pesos to more than two thousand micro, small, medium and large companies. This amount of money was 8.4 percent higher than what was borrowed in 2018.


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