The strengthening of the dollar against the peso has been a benefit to the Puerto Vallarta tourism industry in the last year with more foreign visitors arriving to the destination.
According to the head of the Ministry of Tourism of Jalisco (Secturjal), Enrique Ramos, foreign tourism in 2015 increased by 3% in the state and a 2% increase in the overall economy.
Hotels overall saw an occupancy increase of 4% last year compared to 2014, according to the tourism official.
Luis Villaseñor, Director of Tourism Promotions in Puerto Vallarta, said that the city projected $79 million pesos in lodging tax revenue for 2015, but that was exceeded with a total tax revenue of $82 million pesos.
This year the city has increased their projections for lodging tax revenue to $85 million pesos as the U.S. dollar continues to strengthen against the peso.
Villaseñor says that tourists are spending more money in the area because of the current exchange rates, from staying in nicer hotels, eating more in restaurants, doing more shopping, and experiencing more activities that the city has to offer.
Mexico’s peso has lost 7% of its value in the first few weeks of 2016 due to falling prices in oil, a major source of income for the country.
Photo by Pat Strosahl (Creative Commons)