High US Dollar Positively Impacts Local Tourism

The constantly rising US greenback has not had a negative influence on native industries. With the rise of the US dollar, many local companies are merely dealing with the excessive exchange rate and in some circumstances, benefiting from it.

That's in line with the Riviera Maya Hotel Association’s CEO, Manuel Paredes Mendoza. He says that the excessive exchange rates can profit local resorts with their operating bills, whereas American vacationers can profit from earning extra pesos for his or her dollar. That in turn, offers them extra spending money.

As of December 10, one American greenback buys 17.10 Mexican pesos, an excellent financial benefit to anyone exchanging their US dollars, whereas one Canadian buck will fetch roughly 12.58 Mexican pesos. The benefit might not run as far with national vacationers or guests from some Central American nations however, who are usually not seeing the same degree of exchange rates.

Central American nations such as Chili, for instance, are seeing an exchange rate of about 41.17 Chilean pesos for one Mexican peso, while one Argentine peso is worth 1.75 Mexican peso. One euro presently buys about 18.72 peso, an excellent deal for Europeans vacationing in Mexico.

The area continues to experience excessive occupancy rates largely from Canadians and Americans who, Paredes Mendoza says, represent 80% of international guests to the region. About 20% of tourists are domestic who have made up the 4.2 million visitors to the Cancun-Riviera Maya area thus far this year.

For more travel news, reviews, and tips about the Yucatan, be sure to check out the YucatanGO.com blog.

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