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Tuesday, November 29, 2022

Investor cheers Mexico’s ‘Donald Trump victory sale’

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wayan'e tacos
Bartains in Mexico go beyond economical street tacos, like these at Wayan’e. Photo: Serious Eats

An investments writer from Ontario is celebrating what he calls the “Donald Trump victory sale.”

Harris Kupperman, CEO of Magnolia Growth Group, just spent five weeks in Yucatán and Central Mexico, part of what he calls “one of the cheapest places on the planet.”

“Mexico is one of my favorite countries to visit,” writes Kupperman. “It combines a laid-back attitude, friendly people and an outstanding culinary tradition.”

And while it’s always been an affordable place to visit, “the last two years have taken that dynamic to an extreme.”

The writer of the Adventures if Capitalism column found a room at the AC Marriott for $42 USD per night. In touristy San Miguel de Allende, he booked a 2,500-square-foot, two-bedroom suite on the main square for $75 a night. Dinner for two with a bottle of mezcal in a posh restaurant? About 30 bucks.

The disparity between the dollar and peso have been linked to Donald Trump’s rise in the polls during the U.S. presidential campaign, and continued when the Republican took an electoral college victory on Nov. 8.

“It’s verging on silly,” says Kupperman. 

But this imbalance won’t last forever, he warns. “If you don’t have a trip planned to Mexico, get working on it. I don’t think it will stay this cheap for long,” he says.

The Mexican peso has declined by two-thirds over the past two years. That, combined with “an over-dramatized fear of violence, the tourist economy is basically running on free.”

“Unfortunately, a few dramatic incidents have cost Mexico millions of visitors a year. Eventually, perceptions will adjust to reality and the tourists will flock back — especially given how affordable it is,” writes Kupperman.

See full story at Adventures in Capitalism

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