Riviera Nayarit Mexico Tourism Investment
Riviera Nayarit just north of Puerto Vallarta, where the Mexican government and private developers are building thousands of new hotel rooms, condominium developments, luxurious villas, and golf courses.
According to Mexico's national Secretariat of Tourism SECTUR, Nayarit was among the top five Mexican states receiving new tourist industry investments in 2008, which amounted to US$4.6 billion nationally. Almost half the investments were from foreign capitalists, mainly Spain and the United States. Despite the world economic crisis, the Riviera Nayarit project is moving forward albeit at a slower pace.
Perhaps over-optimistically, SECTUR predicts tourist industry investment nationwide will grow this year by 2.5%, a rate of growth which is far higher than Mexico's predicted overall 2009 growth rate of 0.36%, according to an Organization for Economic Cooperation and Development estimate cited in the Mexican media. To boost tourism, SECTUR Secretary Rodolfo Elizondo has announced that the federal government will contribute $1.6 billion for various projects.
