Business Travelers and Chinese Tourists Drive Mexico’s Visitor Growth

Business Travelers and Chinese Tourists Drive Mexico’s Visitor Growth

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OCT 01, 2013 8:30 AM
Mexico’s oceanside resorts and Mayan ruins are luring more visitors from abroad even as drug violence plagues parts of the country. The resurgence is spurring a wave of new investment in the hotel industry.
Business Park related portion of article:
Foreign ManufacturersMexico’s gross domestic product per capita may rise 53 percent to $12,175 next year from $7,968 in 2005, according to a May report by Jones Lang LaSalle. GDP is being helped by jobs created at foreign companies expanding their manufacturing in the country, such as Mazda Motor Corp., which is building a plant in Salamanca City, about 190 miles (306 kilometers) northwest of Mexico City.“So many more companies from Germany, Japan and America are moving their manufacturing to Mexico because it’s a great location, with low labor costs,” Rajiv Trivedi, chief development officer at La Quinta, said in a telephone interview. “Mexico is becoming a hub of business for Latin America.”

Mexican companies are seeking to capitalize on the growth through initial public offerings. In November, Concentradora Fibra Hotelera Mexicana SA, also known as FibraHotel, sold shares to become only the second publicly traded real estate investment trust in Mexico, after Fibra Uno Administracion SA, which had its IPO in 2011.

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