Beating out all other destinations in Mexico, Cancun's hotel occupancy rates for the first quarter of 2020 are being forecast at 82 percent, says Reportur.mx.
During just this holiday season alone (December 21, 2019 through January 7, 2019), nearly 1,380,000 tourists are expected to arrive throughout the Mexican state of Quintana Roo-an increase of 2.8 percent over the same period in 2018.
The State Secretary of Tourism (Sedetur) estimates that this will generate an economic spillover of $1,400,000,000, representing 1.8 percent growth over the previous year.
Director of Tourism, Francisco López Reyes, recently disclosed to Reportur.mx that 2019 hotel occupancy numbers for Cancun would be closing at 83.1 percent, 2.4 points more than at the end of 2018, with plenty of reason to expect that tourism will continue to flourish in 2020.
Cancun International Airport, meanwhile, expects an excess of 26 million domestic departures and arrivals, which is almost five percent more than last year's figures.
In terms of investments, there are more than 16,000 hotel rooms currently under construction whose operations are planned to begin in 2021, adding to the current inventory of 107,700 hotel accommodations already in the area.
According to a study by CI Banco on the projections of the exchange rate, should economic conditions in Mexico decline, the value of a U.S. dollar could skyrocket above 21 pesos.
Financial advisor Rafael del Moral told Reportur.mx that an increase in the exchange rate, which lends greater value to foreign currencies, could actually prove positive for Cancun's tourism industry since visitors are attracted to the prospect of increased value for their dollars.
"The closing of this 2019 confirms the expectations of growth, strength and vitality of our tourist destinations," said the Head of the Tourism Secretariat of Quintana Roo in a statement.
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