If you are looking to invest in real estate, some key economic indicators will show you if you are investing in the right place. In the Riviera Maya, the three most important economic indicators are the hotel industry, amusement parks, and airport arrivals.
Here are the key economic indicators for a smart investment:
With the growth experienced in the hotel industry in the Riviera Maya, you can be assured that this is one of the economic indicators that demonstrate a strong market for real estate in the area. Year over year, the number of rooms available in the hotels within the Riviera Maya has grown exponentially.
In 1999 there were less than 13,000 rooms available, and now at the start of 2019, there were more than 47,000. In spite of this, general hotel occupancy has remained relatively stable although occupancy has decreased slightly since a peak in 2014.
There is a slight decrease in hotel occupancy. However, it is a good sign for investors, as it reflects a higher usage of vacation rental options such as Airbnb. For individuals looking to enter the real estate market to produce income through a vacation rental, this is great news.
The number of amusement parks in the region also continues to grow. These attractions draw hundreds of thousands of visitors each year by providing a variety of excursions and activities to suit all ages and interests. Some of the larger parks include the renowned Xcaret, which is a water park featuring numerous activities as well as introductions to Mayan Culture.
The growth of these amusement parks demonstrates the growth in tourism in the region. Owning a home within a reasonable distance from one or more of these attractions will be sure to attract visitors to your home while you are using it as a vacation rental. Therefore, amusement parks are excellent economic indicators that demonstrate a constant growth in the Riviera Maya.
These two economic indicators of the hotel industry and amusement parks are further borne out by the raw data shown in terms of airport arrivals. Visitors arriving via the Cancun Airport have nearly doubled since 2010. In 2018, more than 33 million passengers were registered to come through Cancun International Airport, which is a 7% increase over 2017, and an increase of 98% since 2010. This demonstrates that the Riviera Maya continues to be a preferred international beach destination.
This is excellent news for all individuals interested in the Riviera Maya. Increased traffic means more frequent and affordable flight options, as well as continued development to support the needs of tourists and residents throughout the entire region.
While the hotel industry continues to grow, so too does the demand, which makes this the perfect time to invest in real estate in the Riviera Maya.
Many developments have been built with tourists in mind. For this reason, these real estate projects provide a large number of amenities and privileges to owners. It also allows them to use their new home as an investment by providing vacation rentals when not using the home themselves. You will certainly want to get into this market early in order to capitalize on this exponential growth.