Puerto Vallarta Real Estate | June 2009
|Summer Mexico Resort Real Estate Update|
John K. Glaab - settlement-co.com
Welcome to our Summer, 2009 Newsletter. This has not been a happy time for the tourist and real estate industries. Many have been severely wounded and suffered tremendous financial loses. Until the H121 Virus, the Mexican economy, in spite of a rather week peso had been healthy and growing.
Dues to a sensational and some times misinformed U.S. media, especially cable TV news, people became frightened when it came to Mexican travel. Airlines cancelled flights (Continental 50%) cruise ships stopped coming and hotel rooms were canceled. As one owner of a small boutique hotel said to me, "John first it was the drug war, then the global economy and now the virus."
All of this has caused a backlash, by foreigners who live in this country because of the culture, people and natural beauty. More recently, tourism promotion by the Mexican government at state and federal level has been increased.
In May Mexico a multi-million-dollar campaign dubbed "Mexico's Alive" was launched to kick start the tourism sector after swine flu scared away many visitors to Mexico.
International stars, including Spanish tenor Placido Domingo, Mexican film actor Diego Luna and soccer player Rafael Marquez, from FC Barcelona, are taking part in adverts for the campaign launched by President Felipe Calderon.
Calderon said the new campaign involved an unprecedented investment in the country's tourism industry, including $90 million in the next few months.
"It's more than a promotional campaign, it's a national movement which requires the participation of all Mexicans, especially those who are most well-known," Calderon said, surrounded by Mexican celebrities.
Tour companies will launch a wide range of promotions to lure back tourists from alternative destinations, Calderon added.
The A(H1N1) epidemic hobbled the Mexican tourist industry, which provides the country's third source of foreign income after oil and remittances.
The flu's impact, including on tourism, was expected to cost Mexico's economy around $2.3 billion, around 0.3 per cent of gross domestic product. Mexico has now lifted precautionary measures applied at the start of the flu scare and officials insist that the new cases are on the wane at the epicenter of the outbreak.
Between 22 million and 23 million foreigners usually visit the country's famous Aztec and Mayan ruins, pristine beaches and colonial towns each year, according to official figures.
VIVE Mexico Event - Lorena Ochoa Plays in Vallarta:
Who's Lorena Ochoa? Well, she's just the #1 ranked female golfer in the world. It was all about world class golf at the First Annual Ambassador of Tourism Golf Tournament played on the championship par-72 Jack Nicklaus Signature course at Vista Vallarta Club de Golf.
Participation in this stellar event was by invitation only through the Secretary of Tourism, with only 72 players teeing up.
Vista Vallarta has hosted many such world-class golf tournaments and is a favorite choice of many event planners around the globe. Spread across 478 acres and encompassing two 18-hole, par-72 championship courses, the Signature course designed by golf icon Jack Nicklaus, and the neighboring course designed by golf-great Tom Weiskopf, are first-rate venues for those on their game. The international sports media came to Puerto Vallarta and provide world–wide coverage.
Mexico: One Journalist’s View:
(Following are excerpts form an article by New York journalist Linda Ellerbee. Her article was posted on BanderasNews in May.)
"You would have to be living on another planet to avoid hearing how dangerous Mexico has become, and, yes, it’s true drug wars have escalated violence in Mexico, causing collateral damage, a phrase I hate. Collateral damage is a cheap way of saying that innocent people, some of them tourists, have been robbed, hurt or killed. But that’s not the whole story. Neither is this. This is my story." Click HERE for full story.
New Shopping Mall for La Paz:
Wal-Mart is already open and thriving, a new Home Depot is under construction and now a new mall is coming. The anchor tenant for the new mall will be a mega Commercial Mexicana. That company has a chain of super markets, located from coast to coast of Mexico. The development plan was presented to the La Paz Chamber of Commerce by local Realtor and Developer, Carlos Estrada Talamantes. He reported that in addition to Commercial Mexicana, there will be room for 60 retail outlets a food court and parking for over 600 cars.
Gran Solmar Coming to Cabo
Originally from Spain, Don Luis Bulnes, arrived in Cabo in 1955 to manage the Pando Tuna Cannery turning this cannery into the largest tuna packing plant in all of Latin America by 1963. Having the vision to see more in this desert landscape than rocks and cactus, Don Luis purchased land from the local ranchers and in partnership with Luis Coppola Sr. built the Finisterra Hotel in 1970.
In the late-70's Don Luis sold out his interest at the Finisterra and built the Hotel Solmar on what many consider to be the best location in all the Baja California Peninsula - possibly the world. Built along a stretch of white sand beach with granite cliffs as a backdrop, this captivating location truly bewitches its visitors into a relaxed frame of mind. Perfect for a true getaway vacation. The Solmar started with only 20 rooms but by 1979 was up to 60 rooms total. The Solmar group also operates a large fishing fleet and has become internationally known as a hotel, scuba diving and fishing company.
Now construction has started on the Hotel Gran Solmar. It represents an investment for Cabo San Luca of $100 million and will employ 1,000 construction workers. The first 100 time share units are scheduled completion by 2011.
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