Cancun Real Estate New Opportunities With Convention Focus

While Yucatan Real Estate as whole is already well established as an international

favorite for vacationers who fall in love with the beaches and lifestyle, as well as investors looking for excellent income, Cancun Real Estate is perhaps the focal point and in many ways the driving force behind this momentum.

While tourism in Cancun has made it a world famous destination both for tourism and for real estate buyers, Cancun is still working hard to make this even more true, tapping new forms of tourism and opening up new real estate opportunities. The newest focus for Cancun is business convention tourism.

Cancun is considered to be the number one destination for conventions in the U.S. and Canadian markets, as it has infrastructure and services that distinguish it as a premier destination in quality and hospitality.

On a national level in Mexico, at least six percent of foreign travelers, mostly Americans and Canadians, arrive for conventions, a segment of tourism which accounts for 13 percent of foreign income from tourism entering Mexico. A recent example in Cancun is the ninth annual Mexico Showcase & Travel Expo, in which 160 buyers and 80 exhibitors from the groups and conventions sector participated; estimates for income generated are at about $20 million U.S.

Many more conventions and groups of large numbers and with international significance such as the upcoming climate change summit announced recently are lined up for both Cancun and the nearby Riviera Maya for the following year and beyond.

An advantage of the convention and group sector of the tourism industry is that it often brings large groups of visitors during low seasons, and each visitor tends to bring spend a significantly larger amount than a regular tourist. In this way, it does a great deal both to bring growth and balance the year-round economy in a place where tourism is the key industry.

For real estate buyers these statistics point to economic growth and stability in Cancun, and to an expansion of real estate opportunities as the city's key industry continues to offer strong appeal to the most important markets in tourism. Cancun MLS listings already show a healthy supply of a variety of properties, and as this growth continues, more excellent opportunities will continue to appear.

by: Thomas Lloyd

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