Oaxaca Mexico Weblog / » Oaxaca, fourth in the southeast for tourism investment

Oaxaca ranks fourth in the region south of Mexico and tenth place national attracting private capital, both domestic and foreign, targeting the tourism industry.

Tomas Leyva Cardenas, an expert of the Mexican Institute for Competitiveness (IMCO), said that only investment in tourism in Oaxaca during 2007 was 37.8 million, “which will allow Oaxaca raise their level of competition in this industry.”

Calle de oaxaca.jpg

He stressed that Oaxaca achieved a major capitalization of the sector in 2007 after the socio-political crisis of 2006.

He noted that according to data from the Department of Tourism (Sectur) in 2007, the private tourism investment reached three million 463 thousand dollars.

Accordingly, the bulk of the sum was concentrated in Quintana Roo, Sonora, Nayarit, Sinaloa and Baja California, according to data from the Census National Investment Projects of the unit. The five entities accumulate 78 per cent of the total money received.

Leyva Cardenas said that according to Sectur, Spain and the United States concluded the year as countries that have invested more in Mexico. Of the committed capital, 56.24 percent comes from entrepreneurs and 43.76 percent of foreigners.

He added that the amount recorded in 2007 reached historic levels, thus exceeds what has been accomplished in previous years; also represents 17.3 percent of the target set for this six-year period, which is expected to achieve, by 2012, some 20 billion dollars this concept.

The expert from IMCO added that the southern states of the country together contributed 36 percent of total registered by the Sectur, where Quintana Roo, exceeds the rest by far, followed with 89.6 of Campeche and Yucatan with 51.4 million for each. Oaxaca, Veracruz and Chiapas contributed 37.8, 21.7 and 20.7 million, respectively.
Source: News-oax.com.mx

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