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lunes, julio 4, 2022
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Puerto Vallarta: how it started and where are we going

In the opinion of some, the trigger that began the amazing transformation of Bahía de Banderas was when, in 1964, it was chosen as a set for the filming of the film: The Night of the Iguana.

Numerous journalists traveled to the location, a beautiful but until then inhospitable place in the Mexican Pacific. Puerto Vallarta and in particular Mismaloya beach captured the spotlight in Hollywood. In the blink of an eye, the region rose to international fame, which would increase over time and on its own merits, until it became one of the most important tourist destinations in the world.

For six decades, the region began to receive more and more visitors from both Mexico and other latitudes of the planet, mainly from the United States and Canada. Some of them were trapped by its charms and decided to live in different towns in what is now known as the Riviera Nayarit. They were visionaries who realized its enormous potential for development. The cosmopolitan character that today distinguishes the region was already emerging.

Americans were, and still are, the largest group of new settlers. But Canadians follow closely behind and in the last decade their number has grown exponentially. It is no coincidence that Flair Airlines announced two new air routes that will connect the cities of Edmonton and Vancouver with the Vallarta International Airport, adding to the five already existing.

In addition to its beauty, excellent climate and natural wealth, the Riviera offers relevant advantages for Americans and Canadians. Among them is the proximity to their places of origin to which they can travel constantly. The cost of living is between 30 and 50% cheaper than in their countries of birth. In addition, the area has a modern infrastructure that allows them to lead an excellent quality of life.

Canadians actively participate in the local economy and have established businesses in different sectors such as hotels, restaurants, coffee shops, bookstores, among others. Steve’s Sports, Captan Dons, Blake’s, are just a sample of them.

Special mention deserves the contribution of the natives of the country of the maple leaf to the real estate of the area.

When the United States has suffered economic problems that for obvious reasons have affected the economy of the region, investments from Canada and Mexico have kept the local real estate industry afloat. Currently the market is evenly distributed among Mexicans, Canadians and Americans, a situation that translates into growth, diversity and stability for the sector.

In the global village we inhabit, global financial interdependencies are inevitable. The post-Covid era significantly evidences this. The challenge for each country is to reduce the negative effects of the pandemic and establish the best conditions for a speedy recovery. One way to achieve this is to transform obstacles into opportunities. This is happening in the real estate field of the Riviera Nayarit. Paradoxically, the economic crisis has favored the search for safe and high-yield investments and these advantages are offered by the real estate industry.

Around the edges of the Riviera it is common to hear several languages. They correspond to the different nationalities that make up its population, among them and in an important way the Canadian. However, the multicultural personality of the region speaks the same language: that of progress and collective improvement. Therefore, after the Night of the Iguana, dawn breaks in paradise.

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