Government And Private Investment In The Future Of The Riviera Maya

18 March, 2023

A destination without planning and private investment, it is a destination without a prosperous future, according to the Secretary of Tourism of Quintana Roo.

The growth and development of the Riviera Maya in recent years has gone hand in hand with significant investments from both the public and private sectors.

Each investment that is made in the region is made for the future and growth of the same.

In 2019, an investment of 8,000 million pesos was announced to expand the Cancun and Cozumel airports, and 23.9 million pesos for the construction of hotels and a theme park.

An investment of this type not only generates thousands of jobs (the labor demand grows, the demand for long-term rentals grows), but it also allows more tourists to enter the region.

Adding everything up, it is an important social and economic development that drives the continued growth of the Riviera Maya.

During the last 20 years, a lot of money has been injected to maintain the area as a quality tourist destination.

Although developing the area comes with challenges and obstacles, its dedicated growth attracts investors looking to invest in the area’s infrastructure, security, development and nature.

And then, what’s next for the Riviera Maya?

Economic and Tourist Development in the Riviera Maya

The Ministry of Tourism announced that in 2021 an investment of 287 thousand 500 million pesos would be made in new projects throughout the country.

Of this total amount, 68 percent is destined for Mexico City, Baja California and Quintana Roo, as they are the most important markets.

This investment includes the construction of new hotels in the Mexican Caribbean to maintain its impressive (and historic) development.

In addition to this, 738 million dollars are contemplated by a major hotel company to build six more hotels.

In addition, another important chain will be investing 6 billion pesos in renovating its hotels.

Adding everything up, there is talk of a significant job creation and the number of rooms available (and the demand for long-term rentals) increases.

In this matter, the important private investment in real estate developments for own homes, vacation rentals or second homes must be considered.

Some data confirm that there are 40 million pesos invested in real estate development in the Riviera Maya, which are currently under construction.

The real estate sector, thanks to its constant investment and development, represents 14.1 percent of the country’s gross domestic product.

The Development of Infrastructure and Services

Beyond investment in tourism development, there are also government investments focused on improving roads, services and infrastructure.

At the end of March 2021, the first part of Kukulkan Avenue in Tulum was inaugurated, which will facilitate the flow of traffic and the connection between various areas of Tulum.

In 2021, the government of Quintana Roo announced that it will have 25 investment projects, with a total of 42 thousand 441 million pesos.

This investment includes agencies such as the IMSS, the CFE, the Secretariat of Tourism, the ICU of the General Hospital, the UNAM through the SEP, Cenegas, the ISSSTE, the SEMARNAT, among others.

One of the largest projects that bets on the future of the region is the Mayan Train, which will connect important areas and create ease of transportation and mobility for both residents of the region and tourists.

All this investment is designed to improve the living conditions of residents, and to give greater value to the area for tourists.

Invest in the Riviera Maya

When it comes to private investment, it can be considered very broad in the Riviera Maya.

Each hotel, restaurant, bar, business that opens in the area is an opportunity to generate employment, social development, and economic development.

There is a lot of investment interest in the area. Even people who invest in real estate both for their own use and for vacation rental are considered a key element in economic development, because thanks to the demand for new real estate developments, the supply of them is born; and thanks to the offer, an important source of employment is created in the region that continues to drive the destination.

Investors with greater capital who seek to develop complexes, hotels, restaurants, or parks, are also helping the immediate future of the Riviera Maya, so that it continues to develop as a tourist power at the national and global level.

Author

Maya Ocean

Maya Ocean Real Estate

We are a company dedicated to the Sale of Real Estate and we also offer the option to Manage, Promote and Rent. Our real estate inventory and area of operations extends to the Riviera Maya mainly in the cities of Playa del Carmen and Tulum...

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