Mexico sees $3.5 bn foreign investment in tourism over 3 years
April 15th, 2011 - 11:37 am ICT by IANSMexico City, April 15 (IANS/EFE) Mexican authorities have predicted foreign investment in the tourism sector amounting to about $3.5 billion over the next three years, a capital inflow that will create about 20,000 jobs.
The investments come mainly from Spanish, German and Asian companies, Economy Secretary Bruno Ferrari and Tourism Secretary Gloria Guevara said at a press conference Thursday.
The tourism chief said that now “there exists a committed investment of $2.5 billion”, and that another $1 billion “will be arriving at the proper time”.
She added that hotel groups like Melia and Barcelo had confirmed that they will continue with the construction of hospitality centres in the country.
The ministers announced the progress on the National Tourism Accord, signed in February by Mexican President Felipe Calderon, the private sector and the unions with the aim of promoting the tourist industry.
“We’re working with investments to support small and medium business,” Ferrari said.
The economy secretary said that the financing for micro, small and medium tourist businesses had been increased by commercial banks and other financial intermediaries, and it is expected that 2 billion pesos (about $170 million) in loans will be given to support some 1,000 small and medium businesses in the sector.
Ferrari noted that the tourism industry is the country’s third-largest source of income, representing 9 percent of the gross domestic product and is “a great potential and opportunity for Mexico’s economic growth”.
The ministers denied, however, that the country’s image abroad is being seriously affected by the violence from the ongoing drug war and the recent finding of 120 bodies in mass graves in the municipality of San Fernando, in the northern border state of Tamaulipas.
–IANS/EFE
rd
- More than two mn Americans choose Mexico for retirement - Dec 04, 2011
- Mexico, EU sign pact to boost tourism - Jan 24, 2012
- Mexico to develop 'Magic Villages' for tourists - Jun 20, 2010
- Mexico to invest $250 mn in disaster insurance - Mar 05, 2012
- Cruise giant to invest over $150 mn in Mexico - Mar 16, 2012
- Coca-Cola plans to invest $1 bn in Mexico in 2012 - Jan 30, 2012
- Brazil wants Mexico to cap vehicle exports - Mar 11, 2012
- Brazil, Mexico settle dispute over auto exports - Mar 17, 2012
- Wind to account for 15 percent of Mexico's electricity mix - Feb 16, 2012
- Cuba to increase hotel capacity - May 10, 2012
- Mexican government expects economy to grow in 2013 - Apr 12, 2012
- Mexico's 2011 growth outlook improves - Dec 02, 2011
- Mexican cartels moving drugs in armoured vehicles - Jan 18, 2012
- New Mexican mine to produce 283 tonnes of silver - Jul 14, 2011
- Drought reduces Mexico's agricultural production - Feb 14, 2012
Tags: asian companies, border state, bruno ferrari, capital inflow, commercial banks, financial intermediaries, hotel groups, mass graves, medium businesses, mexican authorities, mexican president, national tourism, northern border, proper time, small and medium business, tourism chief, tourism industry, tourism secretary, tourism sector, tourist businesses