As Cancun advances in strides in promoting itself as a key destination for international conventions and conferences, Mazatlan has also decided to promote itself for this market. As key areas in the Mexico condo market, both largely successful due to the area's popularity in tourism, Cancun and Mazatlan real estate show promise of benefiting from the new direction.
In 2009, Cancun opened a second runway at its international airport with the purpose of supporting increased future traffic from two new directions the city has chosen; one is to develop its airport as an international hub, the other is to take advantage of its large number of hotel rooms available in low seasons to offer a prime location for international conventions. With several very high profile events already its CV – such as the Summit on Latin American and Caribbean Unity in the nearby Riviera Maya area and the upcoming Cancun Climate Change summit (Dec. 2010) – Cancun promises to continue attracting both high profile events, and other international conventions.
The increase air traffic and tourism cash flow is expected to have a positive impact on the Cancun real estate industry, both bringing new interest from international buyers and increased tourism investment, which provides further services, conveniences and activities for real estate buyers.
Mazatlan's efforts to take a similar approach to the market of conventions has also recently been announced, with the difference that Mazatlan will be focusing on the national market more than international. The effort is already gaining support from corporations in hosting business conventions, professional fairs, exhibitions, video seminars and education seminars. The investment for this campaign will be about $350,000 dollars.
The effort has already been supported by the opening of the Mazatlan International Center in November 2009 with an investment of about $75 million. Besides offering many hotels on a beautiful beachfront, Mazatlan also boasts a colonial city center which has undergone an extensive restoration in the last 20 years.
As in Cancun, the new focus on conventions is expected to bring substantial cash flow in low-seasons, boosting the tourism industry, attracting further investment, and providing more services for international real estate buyers and investors.