Cancún, an important tourism destination. Cancún, an important tourism destination.

Quintana Roo growth higher than China’s

At 7.6% last year it was second only to Aguascalientes

Quintana Roo recorded higher economic growth than China in 2016 and the second highest in Mexico, with strong tourist numbers behind the surge.

ADVERTISEMENT

The state’s gross domestic product (GDP) grew by 7.6% last year, according to national statistics institute Inegi, whereas China’s economic growth slowed to its weakest pace in a quarter of a century to 6.7%. The state’s growth rate represents a 2.8% gain on 2015 numbers.

Only the small state of Aguascalientes recorded better 2016 growth than Quintana Roo, with 9.5%.

Growth in the latter was the highest since 2007 when the economy expanded by 10.6%. Last year’s figure is almost three times higher than that recorded for the Mexican economy as a whole, which grew by 2.7% in 2016.

Overall, the Quintana Roo economy contributed 1.6% of Mexico’s total 2016 GDP.

Often considered the jewel in Mexico’s tourism crown, Quintana Roo is home to popular vacation destinations including Cancún, Playa del Carmen and Tulum and boasts a total of 98,000 rooms across the state.

The director of the Faculty of Tourism at Anáhuac University believes that the impressive GDP growth in Quintana Roo is linked to an upturn in tourism across Mexico.

ADVERTISEMENT

An increase in tourism offerings combined with maintained high occupancy levels and competitive hotel rates were behind the state’s improved economic performance, Francisco Madrid said.

Mexico overtook Turkey to become the world’s eighth most popular tourist destination, according to the World Tourism Organization, after it received 35 million visitors last year.

One dark cloud on the horizon, though, is that violence in Quintana Roo has increased in 2017 with National Public Security System statistics showing that statewide homicide numbers more than doubled in the first 10 months of this year compared to the same period last year.

Cancún has been particularly affected and the local president of the Mexican Employers’ Federation (Coparmex) said earlier this week that business owners in the city have been forced to allocate around 30% of their total budgets to security measures.

But despite fears that the violence would have a negative impact on tourist numbers, hotel occupancy is up one percentage point to 77.5% for the first 10 months of 2017 compared to 76.5% last year. Occupancy was also up in the Riviera Maya by three points to 83%, according to Tourism Secretariat (Sectur) statistics.

Madrid believes that those results translate into an expectation that Quintana Roo will also record strong economic growth in 2017.

Banorte senior economist Alejandro Cervantes agreed with Madrid that increased nationwide tourism was responsible for the growth in Quintana Roo. However, structural reform in public security is needed to guarantee visitors’ safety and ensure that the trend continues, he said.

“The security of foreign tourists is the factor that could really shatter the potential of tourism in the future,” he warned.

Just over half of all foreign tourists that came to Mexico last year spent time in Quintana Roo, according to Sectur, capturing the highest concentration of that market since such statistics were first recorded in 1992.

With an economic spillover of close to US $20 billion annually, tourism is Mexico’s third largest source of income behind only remittances and the automotive industry.

Source: El Universal (sp)

Stories from our archives that you might enjoy

  • Mason

    Get ready for the “growth” to collapse once some more day light murders and other mayhem start making it to the news.

    If I was an investor I would be cashing in and running.

    • David Nichols

      Not much danger of you ever being an investor…

      • Mason

        Not in Mexico..

  • Anthony Stein

    Where? Back to the excited states of America? With that idiot Trump and his awful sons running the country who in the hell would live there now? The country is about to come apart at the seams!

    • David Nichols

      So…Anthony Stein has a full blown case of Trump Derangement Syndrome and interjects his moronic opinion into a discussion of Quintana Roo’s economic growth and the contribution of tourism to Mexico’s GNP…
      Try to stay focused—I know it must be difficult for you after your two time loser, queen criminal Clinton embarrassed herself and all her mindless supporters…

      • Anthony Stein

        I guess you have never watched those fine folks at a Trump rally have you? Embarassing to watch but to be expected from a bunch of backward hillbillies! GFYS gringo!

        • David Nichols

          Typical low rent LibRetard diversionary tactic Johnny-One-Note…
          The discussion here had nothing whatever to do with the USA or President Donald Trump, but you have nothing else to offer the world but your unthinking hatred of the man who burst your bubble…
          My 401k has grown more in 11 months of Trump, than it did in the previous 8 years with barry…
          Manufacturing jobs up by record amounts, foreign investment up by hundreds of billions, NATO countries finally paying their share for mutual defense…
          I could go on, but I know your type–you don’t care to know anything positive, you are only sure of one thing–that you are filled with hatred..!
          Unlike losers like you, I don’t need to GFmyself, I have actual live women for that…
          You have a drawer full of socks…!

          • Anthony Stein

            Those live women are your sisters and cousins you backward fuck!

          • David Nichols

            Sophomoric and lame Tony, but I’m sure it passes for incisive humor in your barrio…

          • BB

            I’m glad Trump took over a thriving economy, instead of the one “barry” took over.

          • David Nichols

            You spelled “stagnant” wrong…!

          • David Nichols

            You trolls will always find a way to interject your juvenile hatred of President Trump into every conversation…
            BTW, do you have any thoughts regarding the actual subject, i.e. the amazing economic growth in Quintana Roo…?

      • bob

        youre the delusional one. Hillary Clinton has never, ever been charged with or convicted of any kind of crime. Anyo9ne who thinks so is mentally challenged.

        • David Nichols

          So in Bob’s world all those people breaking the law, that haven’t yet been caught, are not criminals??
          Your loyalty would be admirable if only it was based on fact instead of emotion…
          HRC is a serial criminal and liar of the first order.

          • BB

            Sounds like you have inside information that no one else has. Is it a sixth sense that tells you who’s guilty from who isn’t?

          • David Nichols

            There are none so blind as those who chose not to see…
            Do you think it a coincidence that HRC’s slush fund received $105,000,000 from Russian sources shortly before she signed off on Uranium One, the sale of 20% of the USA’s strategic uranium reserves to Russia…?
            Do you think it is a good idea to sell uranium to Russia…?
            This is public information, no sixth sense required–just good sense.

          • BB

            I’m glad you’re not attorney general of anywhere. You’d be locking people up who haven’t even been charged. Just judging them by how they look and how you feel about them.

          • David Nichols

            Have you ever just answered a question as asked…?
            Your diversionary tactics may be self-delusional, but they are transparently obvious to anyone capable of critical thought…
            BTW, I’m sorry the educational system has failed you so profoundly…
            Attorneys General don’t lock people up…We have courts and juries that weigh the testimony from the prosecution and the defense before anyone is locked up…

FreeCurrencyRates.com
ADVERTISEMENT