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Sunday, July 3, 2022
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Tag: The Economy

Experts ignore facts while downplaying Mexico’s housing bubble

Recent reports published in several leading local and national publications argue that Mexico’s housing market is no bubble.

Beach communities across Yucatán brace for an influx of tourists

Coastal communities across Yucatán are preparing for their first true Easter Holiday season since 2019.

Business in Yucatán back to normal after 2 years of restrictions

As of today — Monday — all businesses in Yucatán can operate at 100% and normalize their opening hours.

Yucatán’s hotels are bouncing back, with Valladolid leading the pack

Overall, hotels in Yucatán have seen a 25% increase in bookings when compared to this time last year.

Russia’s invasion of Ukraine —  what does it mean for Mexico?

Economic analysts in Mexico warn that the escalating conflict between Russia and Ukraine could have dire consequences at home and abroad.

Building in Yucatán to get even more expensive in 2022

Over the past several years, construction costs in Yucatán have risen sharply and all signs point to even higher prices in 2022..

Can solar panels help save Yucatán’s ‘tienditas’?

The Yucatán small-business chamber of commerce is offering independent shop owners the opportunity to purchase solar panels through a new program.

The largest online retailer in Mexico to flex its muscles in...

The online retailer Mercado Libre has announced its plans for a new logistics and distribution center in Mérida.

Could Yucatán be sitting on billions worth of lithium?

Yucatán may be sitting atop significant lithium deposits, according to Sen. Napoleón Gómez Urrutia.

Mexican hotel chain Grupo Posadas files for bankruptcy in US

The measure comes after a failed attempt by Grupo Posadas to restructure the debt it has accumulated over the past year and a half due to the COVID-19 pandemic. 

Yucatán’s tourism industry looks to recover lost ground

Authorities in Yucatán are hoping that Mérida's upcoming Tianguis Turístico will help the battered tourism industry get back on its feet. 

Mexico bank warns: Fake money in circulation

Mexico's central bank has warned consumers that fake currency is in circulation. 

New jobs report offers some much needed good news for Yucatán’s...

Officially at least, the recovery has come earlier than expected. It was announced in October 2020 that the lost jobs would be recovered in roughly two years — but many are skeptical. 

Cozumel’s cruise industry bounces back in a big way

Quintana Roo’s cruise industry recovery plan is going all steam ahead, reports the state's tourism council. All cruising companies operating in the state before the...

New numbers signal slow but steady recovery for tourism in Yucatán

Though hotel occupancy in Mérida and Valladolid still remains low, hovering at around 30%, the situation seems to be improving slowly but steadily, according to data provided by state authorities.

Mérida real estate market heats up, even beyond the Periférico

Increases are not limited to the Centro or its surrounding neighborhoods. Areas once considered fairly affordable such as Francisco de Montejo, and Ciudad Caucel have also seen considerable price hikes. 

Yucatán’s new high-cost apartment trend and housing crisis

Historically, apartment living has been relatively uncommon in Mérida, with the majority of new towers and condominiums having been built in the last decade.

What is fueling the demand for new homes in Yucatán?

There is a growing concern, evidenced by a large number of empty homes across the state, that much of this growth is fuelled by market speculation.

The skyrocketing value of colonial homes in downtown Mérida

During the last decade, the value of colonial homes in Mérida's historic center has risen by as much as 300%.

Hospitality industry in Yucatán braces for another slow summer

Yucatán's hospitality industry says it expects hotel occupancy rates to reach a maximum of around 50% over the summer season.

New ‘party tax’ sparks anger in Yucatán

One venue administrator who preferred to remain anonymous described the new tax as "an unjust slap in the face to businesses already on the brink of going under."

Mérida’s traditional markets fear a new round of restrictions

Back in May when COVID-19 infections were on the way down, the state government authorized city markets to increase their maximum capacity from 30% to 75%.

Yucatán prepares to welcome its first cruise ship in over a...

To be allowed boarding, all crew members and passengers must provide negative COVID-19 test results, taken no more than 72 hours before departure.

Good news for Mérida’s traditional city markets

Mérida is easing restrictions on city markets in hopes of getting the economy moving again. City markets will now be allowed to operate from 6...