febrero 28, 2024

Residential Tourism (part 1)

The “rediscovery” of Bahía de Banderas began to attract various types of tourists, including Residential Tourism. For many, the takeoff of the Jalisco-Nayarit Riviera as the dazzling tourist hub that it is today began in 1964 with the filming of “La Noche de la Iguana”. The filming became quite an event for the world of entertainment and the Hollywood reflectors pointed towards the natural beauties of the region, until then very little known.

Classifying the different categories of tourism is complicated because its different characteristics are often mixed together. However, it is necessary to name them in some way in order to recognize them and try to differentiate them.

For the purposes of this article, we will call Residential Tourism the one made up of those people or groups of people who decide to settle for long periods of time or permanently in places other than their countries of origin. Although there is also migration of Mexicans, foreign communities, especially from the United States and Canada, are the ones that have grown the most. Due to the strong economic and cultural impact that Residential Tourism generates in the region, it is worth knowing some of its most important particularities, a more in-depth analysis would occupy too much space. Even so, the subject is so broad that we will develop it in three installments.

What can be expected from Residential Tourism in the future?

Photo: Manuel Marín

In order to have an adequate overview, it is necessary to observe the springs and trends that drive migration in the world in general and in the Riviera Jalisco-Nayarit in particular. Some come from a long time ago and others have been emerging for more than half a century. Among the first are a privileged natural environment and climate, the good relationship of foreign currencies in relation to the Mexican peso, efficient withdrawal systems, among others.

Among the advantages and attractions that the region has added over time, we can mention: the gradual reduction of retirement ages, a modern infrastructure that guarantees access to quality products and services, good roads, security and a acceptable level of sustainability, to name the most relevant.

In most Western countries there is a notable increase in adults aged 45 or over, and it is predicted that the number will continue to rise in the coming years. This is the range that corresponds to Residential Tourism.

A surprise agent that intervened significantly in the expansion of Residential Tourism was Covid 19. The event marked a watershed in almost all human activities. One of its most notorious effects was confinement. Thousands of people began to work from home, an activity that spread creating new socioeconomic and cultural models.

Mexico was one of the few countries that did not close borders and that made health security protocols more flexible. Despite a natural drop in the international real estate industry, the demand for housing and real estate in general in the Jalisco-Nayarit Riviera was one of the most favored in the midst of the pandemic.

Residential Tourism has its own personality and characteristics and others shared with other categories. The selection of the destination where you plan to settle is more thorough and careful than the choice of other types of places, whose visit will be more ephemeral. The range of evaluations and decisions is wide, ranging from quality of life to the relationship with the culture and lifestyles of the population residing in the place. In addition, there is greater concern for the preservation of the environment, safety and tranquility.

Foto: Aliux Saavedra Cantellano

Contrary to what might be assumed, Residential Tourism is extremely active in the Jalisco-Nayarit Riviera. The availability of free time generally translates into activities that require a high dose of imagination and creativity. It is very common to see philanthropic communities, others dedicated to art and also to recreation. All this makes up the pieces of a machine that works excellently and is constantly renewed, a community that knows how to contribute and integrate.

Starting from the concrete and evident fact of the growth of Residential Tourism, it is convenient to observe some of the many angles that it presents. Among other reasons to know your needs and expectations and thus be in optimal conditions to satisfy them.

In the following article we will delve further into the behavior of Residential Tourism, which usually marks important differences with other categories that make up the tourism industry.

By: Marc Murphy                                                                                                 Tourism and Real Estate Consultant


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