Source: http://spleeness.blogspot.com/
Back in May, we wrote about Donald Trump and his interest in building a resort on the northeast side of Cozumel. Well, today, the local papers are reporting renewed interest from another famous Mexican real estate family, the Barbachano’s of Chichen Itza fame. The Barbachanos own a substantial portion of the land upon which the resort would be built. The resort itself is to be called the “Punta Arrecifes Resort” and include 600 hotel rooms, a marina, a golf course, and a private air strip.
This time around, however, the current mayor is keeping things hush-hush. He’s keeping the Trump name out of the discussion and has agreed to scale down the size of any potential development, from 3000+ hotel rooms to the aforementioned 600. In the past, any talk of development of the largely virgin beach areas and mangroves of that part of the island brought a big public outcry.
Will it happen? Who knows… Then again, we never thought a windfarm would be going up on the south side of the island either. We’ll keep you posted as things develop.
Update: September 5, 2011
The local papers are again reporting more interest in developing the beach areas directly north of Mezcalitos, the restaurant on the far north/east part of Cozumel. Some 12 kilometers of virgin beaches, all owned by the Barbachano family.. According to the mayor, the island has lost 10,000 inhabitants in the last few years. Developing this part of the island, he thinks, can bring the island out of it’s economic crisis.
Source: http://www.theargument.org.uk/archives/169
A recent New York Times article pointed out that despite the drug violence along the border areas in Mexico, foreign companies are clamoring to do business in the country. According to the article, Mexico is attractive for three reasons: 1) the country’s proximity to the large United States market; 2) the relative low wages and the availability of a large labor pool; and 3) Mexico’s status as the second largest economy in Latin America (after Brazil). Mexico grew 5.5% last year, and is expected to grown 4.5% this year. The US, by comparison, is expected to grow 2.7% in 2011.
On the ground, as a small business operating in Mexico, we see yet more reasons to invest in the country. Pick almost any industry in Mexico, save perhaps the ones already controlled (almost entirely) by Carlos Slim, and what you’ll find is a few common factors: little competition, a growing pool of college-educated workers, and an excitement about the future unparalleled in industries North of the border.
In our own neck of the woods, vacation rentals / vacation property management, the story is no different. Yes, we have competitors. Yes, it’s sometimes a hassle to do business in a country where the legal infrastructure hasn’t yet fully matured. Yes, the violence along the border has affected travelers’ perceptions of Mexico, despite the fact that we’re located some 2300 km / 1500 miles away from any border violence.
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Local and national newspapers are reporting today that the president of Mexico, Felipe Calderon, has announced a $500 million Dollar investment by Mexico Power Group, a subsidiary of San-Diego based Cannon Power Group, to build three wind farms in Mexico, one of which is planned for 5,600 hectares of state-own land on the Southern side of Cozumel. Roberto Borge, the governor of the state of Quintana Roo, stated the the farm has the potential to create 900 jobs for the island and, when functional, the potential to lower electricity bills by as much 15%. Electricity in Cozumel is partly subsidized by the state, but is still very expensive. Who knows if the farm will ever come to fruition, but we certainly welcome any initiatives towards renewable energy that have the potential to throw a few pesos back into the pockets of island residents, and of course tread more gently towards the environment.
Wind, and renewable energy in general, is a relatively new phenomenon in Mexico, but it’s certainly not unheard of. In fact, in 2010 a large wind turbine was installed just outside of Cancun. In Cozumel, however, the only renewable energy to be found is in the form of a random solar panel here and there.
