MEXICO AND SAN FRANCISCO: A NEW CHAPTER IN TOURISM TIES.
The strengthening of ties between Mexico and the US, especially in the tourism sector, offers ample investment opportunities, especially in real estate. Recognizing this potential, Mexico’s Secretary of Tourism, Miguel Torruco Marqués, embarked on the “Operación Toca Puertas” initiative in San Francisco, CA, partnering with a dynamic team of over 20 experts.
San Francisco plays a pivotal role in this collaboration, not just for its status as a gateway to the US but also for its demographics. The city and its encompassing nine-county Bay Area boast a population of 7.76 million, with 23.5% identifying as Hispanic. Remarkably, 72.1% of this subgroup have Mexican roots. This significant demographic presents a robust potential customer base for vacation properties and other real estate investments targeting Mexican tourists.
A highlight of the “Operación Toca Puertas” initiative was the strategic meeting between Miguel Torruco Marqués and San Francisco’s mayor, London Breed. The discussions revolved around leveraging the bilateral relationship between Mexico and California, with California being the lead contributor to Mexico’s international tourism.
San Francisco’s strategic importance as a hub for Mexican tourists, and reciprocally, Mexico as a favored destination for San Franciscans, was underscored. The mayor expressed her gratitude for such initiatives, emphasizing the potential boon for both localities’ economies and real estate markets.
As part of the visit, the delegation also engaged with executives from Meta, focusing on the role of digital tools in tourism promotion. Digital strategies, especially in the age of social media, can significantly influence tourism trends — a factor real estate investors should consider when marketing properties or scouting for investment locations.
Additionally, in efforts to streamline and enhance air travel between San Francisco and Mexico, discussions were held with key figures in the travel industry. The talks revolved around the various infrastructure projects in Mexico aimed at diversifying its tourism hotspots. Significant undertakings include expansions and renovations of airports in destinations like Tulum, Creel, and Puerto Escondido. Such developments are in line with efforts to ensure tourism, backed by President Andrés Manuel López Obrador, becomes a vehicle for broader societal benefits.
Real estate investors should note the promising statistics: San Francisco International Airport already operates non-stop flights to six major cities in Mexico. In 2022 alone, passenger traffic from San Francisco to Mexico saw a growth, with an encouraging uptrend in the first half of the current year.
In essence, the bolstered collaboration between Mexico and San Francisco doesn’t just enhance tourism but beckons real estate investors to recognize and capitalize on the emerging opportunities in both markets.
