Acapulco to Receive Billion Dollar Investment To Boost Tourism
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Tourism to Acapulco has fallen in recent years, but it’s about to get a big boost.
Mexican investment firm Grupo Autofin is typically interested in automotive, communications and tourism projects and has decided to pour $1 billion into Acapulco in a variety of areas which should help those lagging travel numbers and help reinvigorate excitement in the city.
While Acapulco was once considered a top destination not only in Mexico but also throughout North America, international travelers have avoided the city mostly due to rising crime rates.
A recent report from “The Daily Beast” called the town, “Tourist Mecca and Cartel Murder Capital,” noting how hotel occupancy rate is down 40 percent in 2016 and Acapulco ranked dead last out of 78 Mexican travel destinations by the Mexican Institute for Competitiveness.
Those declines are nothing new for the Acapulco tourism industry, but are all the more stark when compounded by the declines the city has been feeling for almost a decade.
While a $1 billion investment can’t immediately solve all of Acapulco’s problems, numerous reasons for optimism can be seen in the move, which plans to add 6,000 hotel rooms, golf courses, entertainment venues, a zip line and a hospital.
The group expects the investment to create 10,000 jobs over the next six years.
Grupo Autofin already owns a large hotel in Acapulco, the Princess Mundo Imperial, which will get additional rooms as part of the investment. The hotel is also launching a major event called “Era Familiar 2016,” which hopes to boost tourism in sports, beauty and the arts industries.
More by Michael Schottey
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