Tourism on the rise – a good sign for Puerto Vallarta Real Estate

By: Jim Scherrer

Puerto Vallarta real estate slowed down considerably because of the global recession, then by the lull in tourism triggered by the swine flu travel advisory. Although the global economic situation continues, Puerto Vallarta´s resilient charm and beauty are bringing the tourists back again. This is good news for Puerto Vallarta real estate, showing that the city’s key industry is resilient and will continue to be strong.

Among the good signs are that hotel occupancy in Puerto Vallarta is rising weekly. This week has seen a 5.7% increase over the last week. Several factors have played a role in this. While tourism has been on an increase throughout Mexico, specific initiatives for this area have also had an impact.

One example of these initiatives is the “Jalisco en Vivo” concert which was held in Puerto Vallarta on June 20th. The concert, which was planned with the primary goal of rebuilding tourism, attracted a local, national and international audience. Among other factors, this concert helped the effort to slow down and eventually reverse the drop off of tourism; the week before the concert had seen a 14.3% decrease in hotel occupancy, while the weak of the concert felt less of an impact, with an 8.6% decrease. Now, the during the third week after the event, hotel occupancy has increased 5.7%.

There is hope that the initial success of the concert will be repeated on as the concert is aired on T.V. throughout Mexico, Latin America, parts of the U.S. and some places in Europe. On the Saturday, July 11, the program received strong ratings on Mexican T.V., and the concert should continue to draw tourists’ attention – both Mexican and international - to Puerto Vallarta.

Another program, this time on the state level, is giving free guided tours and excursions from Guadalajara. These program includes 40 destinations of the state’s 11 main tourist destinations (including Puerto Vallarta), offering 120 excursions for more than 5000 tourists. The trips include transportation and guided tours, and will be offered until August 21st. The program will be promoted in over 60 information booths, and has seen an investment of about 1,200,000 pesos. Although the focus of this program is local tourism, the presence of more tourists will support tourist based businesses in areas entirely dependent on this industry, helping to boost the industry while international tourism continues to rise.

These and other factors are helping tourism in Puerto Vallarta, the city’s main industry, move upward again, and quickly. Those interested in Puerto Vallarta real estate will see this as a good sign, as we wait for the global recession to turn around.

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Region: Puerto Vallarta Real Estate by Jim Scherrer has bought and sold real estate in Puerto Vallarta for almost a quarter a century and has made Vallarta his permanent residence for over ten years. 512) 879-6546

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