The annual headline inflation rate in January was the highest recorded since June 2023. (Cuartoscuro)
Still, inflation last month resumed the upward trend seen between November and January, after the headline rate declined for nine consecutive months between February and October last year. The nine-month-long downward trend came after headline inflation increased to almost 8% in January 2023.
Inflation has now been above the Bank of Mexico’s target of 3%, with tolerance for one percentage point in either direction, for 37 months. Deutsche Bank said that the resilience of domestic demand and a tight labor market are among the factors keeping inflation above the central bank’s target.
Meanwhile, the closely watched core inflation rate, which excludes volatile food and energy prices, declined to 4.55% in March from 4.64% in February. It was the 14th consecutive month that the annual core rate fell. Analysts polled by Bloomberg had predicted a 4.63% rate.
INEGI also reported that month-over-month inflation was 0.29% in March.
March’s inflation data in detail
Inegi’s latest data shows that fruit and vegetable prices were 12.25% higher in March than in the same month a year earlier, while services were 5.37% more expensive on an annual basis.
The cost of processed food, beverages and tobacco rose 5.01% compared to March 2023, energy prices including those for gasoline and electricity increased 3.29% and non-food goods were 2.53% dearer.
Meat prices have continued their downward trend. (Cuartoscuro)
The only category in which prices declined compared to 12 months earlier was meat, which was 0.78% cheaper, according to INEGI.
The statistics agency also reported month-over-month price changes for a range of individual products.
Air travel was just over 28% more expensive in March, which included Semana Santa (Holy Week), while lettuce and cabbage prices surged 18.7%.
Among the other products that were significantly more expensive in March than in February were serrano peppers (+13.5%), chicken (+8.45%), limes (+8.45%) and tourism packages (+7.23%).
Among the products that were cheaper were nopales (-26.86%), onions (-19.89%) and tomatoes (-12.46%).
What does the inflation data mean for interest rates?
Bloomberg reported that the fact that headline inflation increased less than expected in March bolstered “economists’ bets that the central bank could deliver another interest cut as soon as May.”
Board members including Governor Victoria Rodríguez Ceja have indicated that rates will come down slowly, but the latest inflation data “puts a May cut back on the table,” according to Marco Oviedo, a strategist at the Brazil-based financial company XP Investimentos.
The central bank will hold its next monetary policy meeting on May 9.
Oviedo said that the inflation data as well as “the fact that the [Mexican] economy is weakening” and that “the peso is too strong” add impetus to the case for another interest rate cut next month.
However, Felipe Hernández, a Latin America economist for Bloomberg, is not confident that the Bank of Mexico will make another interest rate cut in the near term.
“Persistent high core services inflation and increasing upward pressure on energy prices rein in the relief from slower-than-expected March headline inflation in Mexico. And with less favorable base effects in coming months, there’s limited room for additional interest-rate cuts,” he said.
The Tianguis Turístico, which gathers businesses from across the tourism industry, will take place at the Expo Mundo Imperial convention center from April 10 to 12.
Government officials and tourism industry executives gather for the Captains of Industry Dinner, a traditional part of the fair. (Tianguis Turístico/X)
The fair promotes and markets various tourist products and services from around the country — including sunny beach destinations, culture, luxury, business and adventure — to national and international participants.
According to Tourism Minister Miguel Torruco Marqués, despite not being at full capacity due to damage caused by Hurricane Otis, Acapulco currently has 46.3% of its 21,000 hotel rooms available.
During an event on Sunday at Expo Mundo Imperial, Minister Torruco revealed that the original goal was to provide 5,000 hotel rooms for the fair. However, the demand by the fair’s participants exceeded expectations, so more rooms were made available to accommodate them.
“When the private sector unites with the local population and the three levels of government, there is no obstacle for Mexicans,” Torruco said. “Many said that it was impossible to rebuild Acapulco in five months. I, myself, said that we were only going to have 5,000 rooms ready, but today we have more,” he added.
The First Meeting of Tourism Chambers and Associations took place Tuesday as part of the Tianguis Turístico. (Tianguis Turístico/X)
According to the Tianguis Turístico’s website, as of April 2, the fair had confirmed the attendance of 43 countries including Mexico, 1,337 buyers from 787 companies and 1,441 exhibitors from 852 companies.
Torruco Marqués stated that the newly revived state-run airline Mexicana de Aviación will participate in the event for the first time as one of its sponsors. The other airlines sponsoring the event include Aeroméxico, Volaris and Viva Aerobús.
The fair’s origin dates to 1975, when former Mexican president Miguel Alemán Valdés, who at the time was president of the National Tourism Council (CNT), managed it under the name of the International Fair of Hotels and Tourist Agencies of Acapulco (HATA), to market Acapulco as an international destination.
In 1976, the event changed its name to the one it bears today: Tianguis Turístico.
Since 2011, the event has taken place in different destinations besides its original host city. The 2023 and 2021 editions were held in Mexico City, while the 2018 edition took place in Mazatlán, Sinaloa.
Yucatán is Mexico's rising nearshoring star, particularly within the auto parts industry. (Martín Zetina/Cuartoscuro)
Thanks to nearshoring, Mexican states that did not figure prominently in the automotive industry are now finding success in the auto parts sector, with the state of Yucatán a prime example.
The National Autoparts Industry Association (INA) this week revealed a new top ten in the sector. Although states near the northern border, the industrial center and the Bajío region still predominate, Yucatán saw auto parts production spike by nearly 118%.
Yucatán saw auto parts production spike by nearly 118%. (INA/Facebook)
Citing INA data, Forbes México reported that the Gulf state saw auto parts production soar to US $23 million in January of this year, up from $11 million in January 2023, making Yucatán the state with the greatest growth in auto parts production in the country.
Zacatecas was second with a 31.5% increase, which rose from US $88 million to $115 million, followed by Durango, up 18.8%, and San Luis Potosí, up 18.3%.
INA Director Armando Cortés Galicia told the newspaper Forbes México that dynamic growth in Mexico’s auto parts sector was consolidating nicely as the new year began. Cortés attributed the production growth in new regions to an increase in companies relocating to the country.
“One important thing about the relocation of chains of production, about nearshoring, is that there are opportunities for every state to get involved,” he said. “Obviously, initial growth is seen in the traditional states where manufacturing operations already exist, but eventually, all these elements start producing greater benefits in other regions.”
Governor of Yucatán Mauricio Vila Dosal said in March that investment in infrastructure has helped Yucatán become a top 3 state for nearshoring in Mexico. (Moisés Pablo/Cuartoscuro)
Yucatán has become a pioneer in attracting new investment stimulated by nearshoring, the magazine Líder Empresarial reported.
At the International Nearshoring Conference held in mid-March in Aguascalientes, Governor Mauricio Vila Dosal claimed that Yucatán’s investment in critical infrastructure — more power stations, new natural gas lines, improvements to the port of Progreso and connections to the Maya Train — have helped the southeastern state climb to the third-place spot among states receiving new nearshoring investments in Mexico.
Vila Dosal also spoke of his government’s efforts to promote local talent as well as public-private sector initiatives.
Across Mexico, total auto parts production in January exceeded US $10 billion, the highest total since 2018.
At the same time, auto parts exports to the United States rose in the January-February period, exceeding $13.5 billion, an increase of more than 40% since before the COVID-19 pandemic. The newspaper El Economista attributed the improvement to the ratification of the United States-Mexico-Canada Agreement (USMCA), which went into effect on July 1, 2020.
Overall, Mexican-produced auto parts now dominate the U.S. market. El Economista reported that auto parts from Mexico comprise 42.5% of all auto parts imports — significantly more than second-place Canada, which supplies 10.5% of imports.
The attack occurred Monday morning and started a fire in the Montaña building of the state government complex. (Dassaev Téllez Adame/Cuartoscuro)
A month after one of their classmates was shot dead by state police, students from the Ayotzinapa Rural Teachers’ College carried out an attack on the Government Palace complex in Chilpancingo, Guerrero, that caused a fire on the second floor of one building.
At around 8:30 a.m. on Monday, a group of some 200 students arrived at the government offices in the state capital and launched an attack with firecrackers and Molotov cocktails.
The students launched firecrackers and Molotov cocktails at the Montaña building, causing a fire. (Dassaev Téllez/Cuartoscuro)
The assault caused a large fire in the Montaña building, which stands adjacent to the Government Palace.
The students also set vehicles alight, including 12 in the parking lot of the Government Palace, located south of downtown Chilpancingo. The attack continued for around 25 minutes, provoking fear and panic among state government employees.
“We ran out when the firecrackers started going off,” said one bureaucrat.
The students reportedly fled the scene on buses headed to their school, located in the adjoining municipality of Tixtla. Local firefighters extinguished the flames that engulfed the government building and vehicles. A Government Palace flag-raising ceremony scheduled for 9 a.m. that Governor Evelyn Salgado planned to attend was canceled.
The attack came after Yanqui Kothan Gómez Peralta was killed by state police on March 7 while traveling in a vehicle in Chilpancingo with two other students from the Ayotzinapa Rural Teachers’ College, the school attended by 43 young men who were abducted and presumably killed in September 2014.
Guerrero authorities initially claimed that the police came under fire, but President Andrés Manuel López Obrador subsequently said that the students “did not shoot,” and therefore “there was an abuse of authority.”
The students also burned cars parked in the parking lot. (Dassaev Téllez/Cuartoscuro)
Ayotzinapa students are demanding justice for their slain classmate, who was aged 23 at the time of his death, and have rejected state government appointments that have been made, or allegedly made, since his alleged murder.
Two of three police officers accused of involvement in the killing of Gómez are in custody awaiting trial, but the third officer escaped state government facilities on March 11 — allegedly with the assistance of authorities. The fugitive suspect, identified as David “N,” is accused of firing the shots that killed the trainee teacher.
“The murderer of my son remains on the loose because he was released to hide the truth,” the victim’s mother Lilia Vianey Gómez said Monday.
Ayotzinapa students have protested on numerous occasions since the death of Gómez, and have attacked other state government offices in recent weeks.
A day before the alleged murder, students protesting the abduction and presumed murder of the 43 Ayotzinapa students in 2014 used a pickup truck to break open wooden doors at the National Palace in Mexico City while López Obrador spoke at a press conference inside the historic building.
The Guerrero government responds to Monday’s attack
The state government condemned “the violent actions” that occurred and asserted that it has attended to “all the demands” presented by the Ayotzinapa students.
Following the murder, Francisco Rodríguez Cisneros, at center in glasses, was appointed deputy minister of political and social development to lead the dialogue with Normalistas. (Revista del sur/Facebook)
It said that former state interior minister Ludwig Marcial Reynoso Núñez — who resigned after Gómez’s death amid claims he was involved in the formulation of a fabricated version of events — has not been appointed to another government position and stressed that the ex-official has “no kind of work or professional link” to state authorities or Governor Salgado.
In a statement, the government also said that Francisco Rodríguez Cisneros was appointed deputy minister of political and social development to “maintain the path of understanding and dialogue with social groups.”
“… The state government has contributed at all times to the clarification of the events on March 7,” it added.
“We reiterate our call for any demand or dissent to be set out via officially established channels and in a peaceful way, maintaining at all times dialogue and understanding as the mechanism for the resolution of any social conflict.”
Although the rainy season starts on different days depending on the region, the season typically starts in early May, with more consistent rainfall by June.
Summertime in Mexico means sun, but also a lot of rain. (Arturo Pérez Alfonso/Cuartoscuro)
What states have a rainy season?
Most of Mexico sees more rain over the summer months. States in the center, south and southeast of the country experience a more obvious rainy “season,” which means rain falls on most days for anywhere from four to seven months.
When does the rainy season start in Mexico?
This year, consistent rain is expected as early as mid-April for Chiapas, Veracruz, Hidalgo, Quintana Roo, Mexico City and Tlaxcala. Rainfall is forecast to arrive in May for Yucatán, Tabasco and Campeche.
The rainy season for the rest of Mexico will start in June.
When does hurricane season begin?
According to the U.S. National Hurricane Center (NHC), the rainy and tropical cyclone season begins on May 15 in the Northeast Pacific Ocean and June 1 in the Atlantic Ocean.
Both seasons officially end on November 30.
Will Mexico see more rain or less rain in 2024?
In 2024, the southeast, center, west, east and northeast regions will see above-average rainfall, while the northwest region will experience below-average rainfall.
Meanwhile, the states most affected by rainfall during 2024 will be Veracruz, Tabasco, Chiapas, Oaxaca, Guerrero, Nayarit and Jalisco.
This year, the National Water Commission (Conagua) announced that Tabasco will experience more rain than usual. According to Conagua, rainfall may surpass the 3,400 accumulated millimeters that broke records in 2020.
Northwest Mexico will see below-average rainfall this summer, compounding existing drought conditions in the region. (Conagua)
Coahuila, Nuevo León and Tamaulipas may experience lightning storms, hail and gusts of wind, which could give way to whirlwinds or tornadoes. Dust devils may occur in Chihuahua, Durango, Zacatecas, Aguascalientes and San Luis Potosí.
Heavy rainfall is forecast for Chiapas, while scattered rain and showers are expected in Coahuila, Nuevo León, Tamaulipas, Oaxaca, Sonora, Chihuahua, Puebla, Veracruz, Tabasco, Campeche, Yucatán and Quintana Roo.
Meanwhile, a large part of the country will experience a warm to hot afternoon with temperatures exceeding 40 degrees Celsius in some areas of Nuevo León, Tamaulipas, San Luis Potosí and Nayarit.
Falling in love with reading starts at a young age, and you can play an important part in that process - while teaching them to speak Spanish too. (Picsea/Unsplash)
In the digital age and a world saturated with visual stimuli, reading remains a fundamental part of children’s development. Books are not only the doors of knowledge but also fuel imagination, strengthen language and foster concentration and communication.
Reading books in a foreign language can help kids adopt a second language more easily. According to the Montessori Academy, there are many benefits to learning a second language as a child. These include “better memory skills, improved ability to focus, increased vocabulary and more. Developing these skills will help your child overcome their school challenges and allow them to grow into confident learners.”
Reading books in a foreign language can help your child adopt a second language more easily. (Jonathan Borba/Unsplash)
To achieve this, you must teach your child a new language early. Enrolling them in classes or keeping them in a bilingual school is also recommended.
According to a May 2021 report from the aprende.mx General Directorate — the agency that produces the Education Ministry’s educational broadcast programs — reading is an indispensable resource for growing minds. However, despite its importance, experts note a growing lack of interest in reading among new generations.
How can we create a love for reading in children?
The first step is to change their perception of reading. Children and young people must understand that reading is not a boring task but a rewarding experience that can provide excitement and escape from routine. They must see their parents and family members enjoying reading, setting an example to follow.
It’s important to allow young people to choose books according to their interests and preferences. Reading should not be imposed by a school curriculum but encouraged as a pleasurable and enriching activity. Creating a routine and setting a specific time of day for reading can turn it into a habit.
Likewise, adults should get involved in young people’s reading process by asking them about the books they’re reading or would like to read. This shows interest on the part of adults and can encourage discussion and exchange of ideas.
Books must be accessible, attractive and of appropriate length for a child’s age and ability to ensure that they enjoy reading. Often, disinterest arises when the vocabulary is complicated or the narrative is too complex, or, conversely, too easy for them.
It is crucial to change teenagers’ perceptions that reading is an obligation. Introducing them to books that deal with their hobbies and interests is recommended, allowing them to explore different genres and themes. As the world is experiencing a big boom of teenage novels and publications, it’s a perfect time for teenagers to get familiar with reading. Options are everywhere and for everyone.
The benefits of reading are numerous. It improves language, strengthens concentration, stimulates imagination, enhances memory, facilitates communication, exercises the brain, improves spelling, and expands vocabulary. In summary, reading is an investment in the holistic development of young people.
Below are some children’s books and the specific benefits they can offer. Spanish-language versions of all of them are available in Mexico and can also offer the benefit of helping your kids become bilingual:
Cognitive Development
“The Very Hungry Caterpillar” by Eric Carle
This classic picture book follows the journey of a caterpillar as it eats its way through various foods before transforming into a beautiful butterfly. Through vibrant illustrations and simple storytelling, it teaches children about the days of the week, counting and the life cycle of a butterfly.
Language acquisition
“Goodnight Moon” by Margaret Wise Brown
A bedtime classic, “Goodnight Moon” takes readers through a bunny’s nighttime ritual of saying goodnight to everything in his room, from the moon to the stars to the mittens. Its soothing rhythm and repetitive language make it an excellent tool for language development and bedtime routines.
Learning Spanish
Con Pollo: A Bilingual Playtime Adventure by Jennifer Lopez and Jimmy Fallon
The book is loaded with humor and helps young readers learn Spanish vocabulary through a feathered friend named Pollo.
Cultural understanding
“Where the Wild Things Are” by Maurice Sendak
In this beloved story, Max, a young boy dressed in a wolf costume, is sent to bed without dinner and imagines sailing away to a land where wild creatures roam. Through his adventure, Max learns about the power of imagination, the importance of self-expression and the comfort of home.
Understanding emotions
“The Angry Book”, Cédric Ramadier
Its simple story and simple illustrations play with the symbolism of the color red to make the story more understandable. Interactively, readers or listeners, accompanied by a little mouse, can learn and practice strategies and tools to deal with anger, which in this book is represented by the book itself.
In addition to physical books, digital platforms also play an important role in promoting reading. Wattpad, Kindle, Goodreads and other online communities allow young people to share reviews, participate in writing contests and discover new stories.
That’s also true ofLeoteca, a Spanish-language platform that promotes reading in children and adolescents up to 16. Here, children can comment on the books they read. To do so, they can access an extensive catalog of over 55,000 children’s and young adult literature titles from almost 400 publishers. Each book is accompanied by all the necessary information: the subject matter, the recommended reading level according to age, the opinions of other readers and even the first pages to browse through the book. The goal is for children and teenagers to have a place to share their opinions about the books they read with their friends while making recommendations for their favorite titles.
Ultimately, reading is an essential life skill. Without it, access to information would be limited and navigating the current world would be more difficult. Therefore, we must foster the habit of reading in our kids, cultivating a generation of curious, creative and well-informed minds. Share your children’s favorite books with us, and let’s continue to foster a love of reading in the next generation.
Camila Sánchez Bolaño is a journalist, feminist, bookseller, lecturer and cultural promoter and is Editor in Chief of Newsweek en Español magazine.
Oaxaca is Mexico's home of art and food. Find out the best areas to invest if you are thinking of making Oaxaca your home. (All photos by Anna Bruce)
As a photojournalist, I never pictured myself settling anywhere. For years, I never stayed anywhere longer than a few months, usually traveling extensively within that time. That was until 2013, when I first came to Oaxaca.
Oaxaca state lies in a mountainous region that stretches down to the southwestern border of Mexico. Oaxaca de Juárez, normally shortened to Oaxaca, is the state’s capital and largest city. Like many before me, I fell in love with the vibrant atmosphere, eclectic architecture and the overall vibe of the city.
Known for its delicious mezcal and sumptuous mole, Oaxaca is also a hub for beautiful textile and ceramic crafts. The city boasts colorful markets, numerous galleries and cultural centers. Lately there has been a wave of new boutique hotels, rooftop bars and trendy cafes.
With many structures dating back to the 16th century, the city has a strong connection to its history. In the last decade or so, a wave of new builds and renovations has added a contemporary flare.
I knew I wanted to be outside of the hustle and bustle of the historic center, which was becoming busier and more expensive every year. I eventually decided on a spot about a thirty minute walk from downtown with a more residential feel and beautiful views of Oaxaca city.
Fortunately, buying in the area was relatively straightforward. With the help of a local attorney, I completed the private sale, first making a deposit and then following with the rest of the full amount a couple of months later. I am a permanent resident in Mexico, which also helped make these transactions smoother, although it is possible to buy without being a resident.
Oaxaca’s historic center is stunning but has become increasingly pricey in recent years.
Why are people investing in real estate in Oaxaca city?
During the COVID-19 pandemic, it became easier to get temporary residency through a process called normalization. It is clear that since the pandemic there are many more people looking to move to and buy property in Oaxaca city.
Mary Aquino of Re/Max Cantera, a brokerage in Oaxaca, explains that “there are many factors why not only locals but also foreigners are becoming more and more convinced to invest in the state of Oaxaca. In the case of locals, they are investing in the outskirts of the capital city, while foreigners are investing within the capital city due to its tourism and gastronomic appeal. While it is true that the prices are not cheap, it is a good investment for the future.”
Aquino considers the key areas that are growing include “the city center, El Tule, Huayapam, Etla and some of the most emblematic neighborhoods: Xochimilco and Jalatlaco.” In my opinion, San Felipe and Guadalupe Victoria are also areas with significant development. Each of these areas have their own identity and are suited to different living and working requirements. Recently, a wave of friends have moved further from the center to areas like Etla, El Tule and San Felipe.
The Etlas, El Tule and Xochimilco
The “Etlas” are several small communities about a half hour’s drive from Oaxaca city. Many people have moved there to be part of the creative network that has grown there. It is also an area with more water than most, which is a sought after commodity in Oaxaca.
Santa María del Tule. (Gabriel Tovar/Unsplash)
Santa María del Tule, also known simply as El Tule, is a peaceful suburb famous for its massive Montezuma cypress tree. The town boasts market stalls and restaurants, as well as a bike track that takes you into Oaxaca city.
Most of my friends with children have moved to San Felipe. Rebecca Bailey, founder and editor of the Qué Pasa Oaxaca cultural guide, explained that she considered San Felipe “because we have a lot of friends there and it’s close to schools. Even though it’s kind of famous for wealthy politicians, there are lots of young families there because there are a lot of houses with gardens.”
The historic center
As Mary Aquino mentions, Oaxaca city’s two most emblematic neighborhoods are Jalatlaco and Xochimilco; east and north of the historic center, respectively. With cobblestone streets and striking street art, they are extremely charming.
Price per foot changes drastically depending on the distance from the city center. Aquino estimates a price per square foot in Oaxaca’s historic center at 2500 pesos, while the nearby area of Xochimilco is 1500 pesos per square foot. If the property has a luxury amenity such as a pool, expect this to be doubled.
Jalatlaco has become an increasingly sought-after neighbourhood. (Remax)
John Harvey Williams, owner-partner at Real Estate Oaxaca, notes that “Real estate values in Mexico are the sum of the value of the land and construction.” “Land in Jalatlaco,” Williams says, “is valued at around US $100 per square foot. Construction is valued from zero for a tear-down to around US $75 per square foot for the finest quality construction and finishings.”
Empty lots in Jalatlaco, however, are few and far between. “I can think of only a half dozen that are empty now, and none of them are for sale,” Williams told me.
According to Dolores Pérez Islas, general director and CEO of the real estate investment company Silmexico, explains that prices in Oaxaca’s historic center start at US $180,000 for a two-bedroom, two-bathroom house. Homes in a great location on one of the neighborhood’s main streets in the main square command anywhere from US $800,000 to $1.5 million.
The carefully preserved colonial architecture, Pérez added, “gives a magic touch that every owner wishes to obtain. It’s surprising that there are still places like Jalatlaco, since it looks like it did 100 years ago.”
Property in Oaxaca’s historic center can go for anything between US $800,000 to $1.5 million.
Value also depends on the legal and preservation status of the structure or land. Restoration should be carried out in compliance with guidelines provided by the National Institute of Anthropology and History (INAH’s) Oaxaca division, which dictates the preservation of primary features and the original layout.
Guadalupe Victoria
Guadalupe Victoria is an up-and-coming area of Oaxaca that has ejido status, meaning that the land is communally owned. In recent years, there has been considerable construction in the area. Architect Tom Van den Bout, who has several projects in Guadalupe Victoria, describes ejidos as self-governed and largely independent — from Oaxaca City, for instance. Some ejidos are truly communal, co-owned and regulated by all residents. Others, like Guadalupe Victoria, are still run by the founding families but allow sale of land to outsiders and all sales are registered with the ejido.
With over thirty years of experience, Van den Bout found the process relatively straightforward. However, the terms of buying land with ejido status can vary. According to Van den Bout, “Any ejido that is comunal would be virtually impossible to purchase into. Every resident would need to agree to the sale and agree in perpetuity. Your ‘purchase’ could be reclaimed at any time and living there often requires a form of community service. Most ejidal land beyond those near Oaxaca city, such as Guadalupe Victoria, is communal.”
Other things to consider when investing
The coast of Oaxaca is an area with similar complications when it comes to buying land. Per the Mexican Constitution, foreigners cannot own land within 100 kilometers of a land border and 50 kilometers of a beach. It is possible, however, to acquire property in this restricted zone through a fideicomiso (trust) or by constituting a Mexican company. As a buyer, you will be designated as the primary beneficiary. Aquino explains that “there are several companies offering this service and it actually works very well, but it can be a bit pricey. However, it provides much more peace of mind and confidence for buyers.”
If you are considering buying property in Oaxaca, Van den Bout suggests “looking closely to be sure the land can be legally sold and a deed will be issued in the buyer’s name.”
Aquino recommends buying privately when possible, ideally with a certified real estate agency. “Certified agencies are attached to a government institution that fulfills the function of safeguarding the rights of sellers and buyers.” Real estate brokers such as Remax or Silmexico take on the task of investigating the legal status of the property to prevent the client from having problems in the future. There are also excellent land use attorneys in Oaxaca.
Anna Bruce is an award-winning British photojournalist based in Oaxaca, Mexico. Just some of the media outlets she has worked with include Vice, The Financial Times, Time Out, Huffington Post, The Times of London, the BBC and Sony TV. Find out more about her work at her website or visit her on social media on Instagram or on Facebook.
The park's Owl Flight attraction takes you on a whimsical flight while surrounded by fireflies and sparkles. (Xcaret)
Grupo Xcaret recently launched a new nighttime version of its popular creative space Xenses in the Riviera Maya.
Xenses Insomnia offers over 20 activities, 50 scenarios and over 100 photography points.
Take an evening dip in the riolajante, or relaxing river, at Xenses. (Xcaret)
“With the opening of Xenses Insomnia, we seek to sharpen your senses and challenge your imagination through a stimulating experience at all times,” Elizabeth Lugo Monjarrás, executive director of Parks, Tours and Shipping at Grupo Xcaret, said at the opening.
The new Xenses park offers a variety of attractions, such as a light and shadow show, an exhilarating slide that ends in a refreshing natural pool and the opportunity to experience the sensation of flying: Owl Flight takes you on a whimsical flight surrounded by fireflies and sparkles under a starry night in the jungle. These are just a few of the many activities available to visitors.
Grupo Xcaret has also launched a new ferry service between Cozumel and Playa del Carmen, expanding its ferry business.
The new route will have two state-of-the-art vessels, one of which can transport 650 passengers each. Services on board will include bathrooms (including one for people with disabilities), WIFI, maritime safety equipment (vests and rafts life jackets), first aid equipment and information screens.
“This expansion in the Xcaret Xailing division, which involved an investment of 315 million pesos (US $19.2 million), reflects Grupo Xcaret’s commitment to innovation and excellence in the tourism industry,” said Lugo in a separate statement.
Grupo Xcaret entered the ferry business at the end of 2021, with the Cancún-Isla Mujeres route.
Founded in 1990 by Mexican entrepreneurs, Grupo Xcaret operates several iconic parks in Cancún and the Riviera Maya. These parks include Xcaret, Xel-Há, Xplor, Xplor Fuego, Xavage, Xoximilco, Xenses and the Xenotes tour.
The group ventured into the hotel industry in December 2017 with the opening of Hotel Xcaret México. Today, they have expanded their offer with the adults-only Hotel Xcaret Arte and the boutique hotel La Casa de la Playa.
Checo Pérez celebrates with Red Bull teammate and race winner Max Verstappen in Japan. (Peter Fox/Getty Images via Red Bull Content Pool)
Mexican race car driver Sergio “Checo” Pérez finished second in the Japanese Grand Prix on Sunday, giving Red Bull a 1-2 finish with three-time Formula 1 world champion Max Verstappen taking first place.
Pérez’s return to the podium in Suzuka, Japan, followed a disappointing showing for Red Bull in the previous Formula 1 event, the Australian Grand Prix on March 23, in which Verstappen departed after a mechanical failure and Pérez finished fifth.
Pérez behind the wheel in Suzuka, Japan on Sunday. (Mark Thompson/Getty Image via Red Bull Content Pool)
Every time Pérez has a disappointing race, speculation flies that he will not be back with Red Bull after 2024. Each team has two front-line drivers, and Pérez’s contract expires after this season; he signed a two-year extension worth roughly US $10 million in 2022.
Much of the speculation stems from Pérez’s rough 2023 campaign. Although he finished second in the overall standings, he had only two wins in 22 races, and none after the first four races of the season — despite having access to one of the most dominant cars in Formula 1 history. In his career, he has won only six times in 261 starts.
But in the first four races of the year, he snagged three second-place finishes (behind his Belgian-Dutch teammate Verstappen each time), and after the most recent, there was chatter about a new contract.
Red Bull adviser Helmut Marko praised Pérez’s improvement and ability to adapt to some recent car upgrades.
“I think Pérez was better than expected, especially after a very bad weekend here last year,” Marko said in Japan, alluding to Pérez’s 2023 collision and eventual retirement from the race.
He was especially happy Pérez was able to qualify last week in the number 2 position in the front row, alongside Verstappen.
“He gives the impression that he can do it,” Marko added. “But maybe it is also influenced by the fact that next year’s contracts are up for grabs … That also seems to be very motivating.”
After the Japan race, Pérez said he expects his Red Bull and F1 future to be clarified within the next month. Perhaps he’ll be driving with another team.
“I am pretty relaxed about it,” he told Sky Sports F1. “The driver market is moving, and the next few weeks are going to be a lot of movement for sure, so I expect within a month to really know what I’m doing next year.”
For now, the Red Bull seat is “Pérez’s to lose,” said Red Bull boss Christian Horner, who has been critical of Pérez in the past. “I think his confidence is high, he’s very focused on the job at hand and he’s comfortable in the team.”
The next Formula 1 race is the Chinese Grand Prix on April 21 in Shanghai.
The peso continued its hot streak over the weekend, trading at 16.30 before closing at 16.33 to the dollar on Monday. (Shutterstock)
The Mexican peso continued its hot streak on Monday, appreciating to its strongest level against the dollar in almost nine years.
After strengthening on Friday to close at 16.46 to the greenback, the peso appreciated around 1% to reach 16.30 to the dollar on Monday, its strongest position since August 2015.
A general weakening of the dollar, as shown by a slight decline on the DXY index, propped up the peso on Monday. (Mathieu Turle/Unsplash)
The currency subsequently weakened slightly to close at 16.33, according to the Bank of Mexico.
Asserting that the Mexican peso had “eclipsed” the US dollar on a day on which the moon totally obscured the view of the sun from parts of North America, the El Financiero newspaper reported that the peso was the world’s best-performing emerging market currency in Monday trading.
Gabriela Siller, director of economic analysis at Mexican bank Banco Base, said on the X social media platform that the appreciation of the peso was due to three factors.
She cited the inflow to Mexico of foreign currencies from exports, remittances and direct foreign investment (FDI); the “expectation” that the wide gap between interest rates in Mexico and the United States “will attract capital to Mexico”; and the “expectation” that nearshoring “will attract waves of dollars” to Mexico due to an increase in FDI and exports.
The peso also got a boost from a general weakening of the dollar, as shown by a slight decline on the DXY index, which measures the value of the greenback against a basket of foreign currencies.
The peso has benefited for an extended period from the difference between the Bank of Mexico’s key interest rate — currently set at 11% after a 25-basis-point cut last month — and the 5.25%-5.5% rate of the United States Federal Reserve. The March 21 decision by the Bank of Mexico board to reduce rates hasn’t had an adverse impact on the peso despite a narrowing of that gap.
In fact, the peso has appreciated around 2.5% since the interest cut was made. Compared to the beginning of last year when one dollar was buying around 19.5 pesos, the gain for Mexico’s currency is almost 20%.
With inflation still above the Bank of Mexico’s 3% target, interest rates are expected to remain high in Mexico for some time. Inflation data for the entire month of March will be published later this week.
