Investment in tourism-related projects was 65 percent less than during the first quarter of 2010 than the amount registered last year. Total was $397 million. Biggest decline was in the amount provided by domestic investors. Hardest hit was Southern Baja California (Los Cabos), which saw no new investment early this year as compared to $115 million that went in during 2009.
Economic conditions get the blame for the decline, but many in the industry also blame environmental restrictions and a general slowness on the part of local authorities to authorize new development.
--
Jimm Budd
Reporting from Mexico City
Member of the Society of American Travel Writers
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