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Real Estate


Tom Kelly
Tom Kelly
The Real Estate Adviser
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June 1, 2006

The Real Estate Adviser: Priced out of U.S., more snowbirds flock to Mexico

By TOM KELLY
Special to the Journal

MANZANILLO, Colima, Mexico — There's a reason why some Mexican second home areas are so popular: They get a huge helping hand from the government.

Over the past 30 years, the national tourism agency, FONATUR, has created and actively promoted five of what it calls Integrally Planned Resorts (IPRs) that have become the backbone of Mexico's tourism industry. These resort destinations, which include Cancun, Ixtapa and Los Cabos, have proven themselves to be more successful than many of the country's other destinations, garnering average hotel occupancy rates of about 65 percent and capturing 55 percent of the country's foreign revenue from tourism.


 
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