Thursday, March 7, 2013

Fonatur mired in debt


The director of Fonatur, the National Fund for Tourism Development, claims that he found, on taking over the job, that the agency has debts amounting to some $350 million. New officials were appointed after Enrique Peña Nieto became president in December. Many have been critical of their predecessors, members of a rival political party. According to Héctor Gómez, not only does Fonatur owe large amounts of money, but it also is saddled with master-plan resort projects that were begun but never completed. Fonatur was behind the development of Cancun, Los Cabos, Ixtapa, Huatulco and Loreto. The last two might be said to be languishing while Ixtapa has been a disappointment. Critics charge that rather than fixing these problems, Fonatur launched other projects, including the abandoned Nautical Stairway, a scheme to build yacht harbors along both coasts of Baja California.  For the moment, the president himself has announced that no new destinations will be financed until others no longer are operating at a loss. Understudy is what will be done with Playa Espiritu, a much-touted area near Mazatlán that was to be built as a new Cancun.
--
Jimm Budd
Reporting From Mexico City
Member of the Society of American Travel Writers

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