How is tourism in Mexico affected by the current economic downturn?
Fortunately, our team has experience in Mexico. But the main reason we’ve chosen this market is for its attractiveness, especially during a recession. Mexico has a favorable regulatory and business environment, along with plentiful natural and cultural resources. Close to US: Mexico is close to the US, a 3-4 hour flight from most major US gateways, and is therefore attractive at a time when many consumers are cutting back. Anecdotally, Mexico has benefited from people who no longer want to travel farther afield; Mexico is closer than South America, Asia, and Europe. Ease of doing business: In our conversations with Latin American developers, it’s clear starting a business in a developing country is a lot harder than it would be in the US. That said, Mexico has many of the institutions and the political environment needed: things like registering property and enforcing contracts. It’s not perfect—we’ve heard some horror stories—but the IFC (part of the World Bank) ranks Mexico as the mo
