Mexico and Fonatur: celebrating 30 years of success in tourism investment

Latin Trade, May, 2004

Located in the municipalities of Bahia de Banderas and Compostela, on the southern coast of Nayarit State, the resort's proximity to the internationally renown Puerto Vallarta represents major advantages for the property. Nayarit will be associated with the region's success and enjoy its access to air, highway and sea transportation facilities.

FONATUR's Integrally Planned Tourism Project "Costa Maya" is being designed as an upscale vacation destination in the Mexican Caribbean south of Cancun that meets the most rigorous environmental standards--targeting those attracted to eco-tourism and adventure travel, diving, fishing and golf.

Comprising 31,344 acres and offering 6,000 hotel rooms, beach clubs, three golf courses and a theme park, Costa Maya will feature an ecological reserve situated on 83.2% of its property. The development, which is expected to spark economic growth in southern Quintana Roo State, will create an estimated US$730 million in revenue from foreign tourism.

FONATUR's Sea of Cortes project is the first sustainable tourism project oriented at promoting, organizing and regulating tourism development in the states of Baja California, Baja California South, Sonora, Sinaloa and Nayarit.

The Sea of Cortes project is an unprecedented activity to meet the harmonious and sustainable development needs of a strategic region for the country, with the guiding principle of "Developing to Conserve."

The promotion of the project is based in 3 basic programs:

Comprehensive Tourist Regions Program: Its goal is to reorganize and promote tourism and offer new work and development opportunities to people in the area.

SINGLAR Sea of Cortes Program: Created to develop the necessary infrastructure and to provide services to facilitate vessels' safe navigation.

Coastal Places' Comprehensive Improvement Program: To reorganize and generate value in towns, turn them into tourist attractions and achieve their regional integration.

The Sea of Cortes is a priority for President Vicente Fox's Administration that responds to the Presidency's public policies and is carried out under a long-term, comprehensive, inclusive and participatory planning framework, which represents a new development opportunity for the population and a chance to preserve the ecosystem in the Sea of Cortes region. This maritime stops program will meet investors' requirements and provide quality, world-class services to vessels that travel on the Sea of Cortes.

"All of these opportunities have been conceived with the global entrepreneur in mind by our team of committed, skilled and reliable tourism professionals," said Mr. Camacho.

Mexico's National Trust Fund for Tourism Development, which has contributed to the success of the Mexican tourism sector for 30 years, frequently can act as a joint venture partner with private investors seeking to benefit from participation in Mexico's programs of high-quality tourism development.

Investment opportunities include resort hotel lots; residential tourism and full-time housing lots; commercial, a shopping and service area; marinas, golf courses and hotels.