The Riviera Maya region of Mexico is experiencing exponential growth in tourist numbers as visitors flock to renowned resorts such as Cancún, Tulum and Playa del Carmen.
Mexico welcomed 36 million international visitors in the first half of 2022, with tourists piling into the country’s spectacular Riviera Maya region.
Home to popular tourist resorts such as Cancún, Tulum and Playa del Carmen, Riviera Maya has exploded onto the travel scene in recent years. Cancún is one of the most visited tourist destinations in the world, often operating over 500 flights a day. From January to August, around 13.5 million tourists arrived at Cancún International Airport, a 14.3% increase on 2019.
While not quite as established as Cancún, Tulum and Playa del Carmen are emerging as strong rivals to the luxury travel hotspot. Combined, the resorts received a record-breaking 822,000 tourists between June and August of this year, which is 22% more visitors than in 2019.
Riviera Maya takes home top travel awards
It comes as no surprise, then, that Riviera Maya resorts are some of this year’s most popular tourist destinations.
Travel platform Tripadvisor announced the winners of its Travelers’ Choice Awards 2022, featuring the most popular destinations amongst its reviewers.
The “Best of the Best Destinations” included Cancún, Mexico at 3rd and Cabo San Lucas, Mexico at 7th.
Tulum ranked 4th in the “Trending Destinations” category, with one of the greatest y-o-y increases in visitor numbers. Cancún also won an award for the most popular destination for sun-seekers.
A booming hotel industry
Tourism is one of the largest contributors to the Mexican economy, and the country’s hotel infrastructure is widely regarded as one of the best in the world.
Revenue growth in the hotel sector reached 93.2% in 2022, with a total revenue of around $6 billion.
The whole state of Quintana Roo boasts over 1,300 hotels, and the Riviera Maya region is home to nearly half of them. Since September 2019, almost 7,000 more hotel rooms have been created in Riviera Maya, representing a 14.2% increase.
Revenue in the hotel industry is expected to show an annual growth rate of almost 13% over the next four years, reaching $9.76bn by 2026. This is reflective of the growing demand for tourist accommodation across Mexico.
Will Riviera Maya tourism continue to grow?
With tourists latching onto the region as one of the next must-see places, development is continuing at a rapid pace. Infrastructure projects equated to a total of 47.7 million pesos in 2022. Road construction projects are underway, increasing accessibility to the nearby Cancun Airport. A new high-speed train, which will connect Cancun with Tulum, is expected to be operational by the end of 2023, and a new international airport in the city is set to bring in 4 million tourists per year.
With this, Tulum offers an exciting property opportunity with the prospect of a steady income and a high return on investment. The Airbnb market is exceptionally robust here, with good rental yields on properties of all types. While the last few years have seen considerable tourism growth, Tulum is still listed as a location on the rise.
Therefore, with exponential growth projected right into the next decade, now is the perfect time to invest in property in the Riviera Maya region of Mexico.