This jump is creating opportunities for international property buyers.
The rise in Mexico’s international popularity is due to the efforts of FONATUR (Fondo Nacional de Fomento al Turismo), the Mexican government’s tourism investment arm. Think of it as a national fund for tourism development.
FONATUR was created in 1974 to invest in (and incentivize the development of) new infrastructure, hotels, and other tourism-related businesses in designated regions throughout country. These projects are known as Integrally Planned Resort Centers.
First, the agency identifies an intrinsically desirable area in which to create a tourism zone. Then it develops a master-planned community, which includes a residential section for permanent residents complete with schools, hospitals, and markets; a tourist area with hotels, shopping centers, and golf courses; and, in many cases, protected zones for ecological conservation where no development can Continue reading