Toll Free USA/CA   +1-888-225-1995
No Comments

Cancun & Riviera Maya Set for New Tourism Record

Since the record breaking end of 2016, tourism professionals in Cancun and the Riviera Maya have been holding their breath for what 2017 will hold. And it has been no easy ride. With what many have deemed unnecessary travel warnings from the U.S, tourism officials where concerned for the future of Riviera Maya tourism. However, it seems those worries were unfounded. Recently analysed figures show that the appeal of Cancun and Riviera Maya is as irresistible as ever!

Cancun & Riviera Maya Tourism Increase

Marketing Consultants has analysed the income of tourists to our beloved strip of the Mexican Caribbean coast. Between January and September this year, Cancun and the Riviera Maya have welcomed 7.6 million travellers. 3.7 million visitors headed to Cancun while 3.9 million visited Riviera Maya. This equated to a steady 2.8% increase for Cancun, yet a massive 8.5% increase for the Riviera Maya for the same period in 2016.

As is to be expected, more travellers means more tourism spending. Marketing Consultants surveyed 350 visitors travelling through Cancun International Airport in order to analyse visitor spending habits. The result showed a marked increase in visitor spending throughout the 9 month period compared to 2016.

So where are the visitors coming from? U.S. citizens are the biggest group of visitors coming to Cancun & Riviera Maya. In fact Mexico as a whole is a popular destination, as 2016 saw 7.86 million Americans travel to Mexico for vacation. However, Canadians are a constantly growing market. Kayak.com recently announced that Cancun is the 4th most popular travel destination for Canadians according to their flight search records.

What does this mean for Riviera Maya Real Estate?

The popularity of a travel destination obviously affects the real estate market. Playa Del Carmen real estate for example, the tourism centre of the Riviera Maya, has seen an a 9% appreciation in the last 4 years alone. Emerging Tulum saw real estate appreciate by as much as 12% per year over the same period. Annual market appreciation does have a huge impact on property investors decision to buy. But the real lure of Riviera Maya real estate is the potential for vacation rental income. For Cancun and the Riviera Maya, income from vacation rentals can often create a further 10% annual revenue on your investment property. This of course relies on the health of local tourism. And seeing that Cancun and the Riviera Maya are in for another record breaking year is the best news possible for current and future vacation rental owners.

 

Ryan Gravel

About Ryan Gravel

Ryan Gravel is a licensed real estate broker and managing partner of Virgin Realty Mexico, a real estate and investment firm based in Riviera Maya, Mexico.