The federal government provides some support for tourism in Mexico, both through the Fondo Nacional de Fomento al Turismo (Fonatur) and Bancomext.
Fonatur, a state-owned entity, plans the development of tourist areas and promotes investment.
Through Fonatur, investors can obtain financing with preferential conditions to acquire real estate; 30% of the amount of the loan is paid in one year without interest and the rest in five years at a preferential rate.
Through Fonatur, eight tourist areas have already been developed, mainly dedicated to sun and beach tourism.
Support for tourism
Bancomext, the federal development bank, considers tourism to be a «strategic or priority sector» due to its contribution in foreign exchange and employment.
The bank grants financing, in pesos or U.S. dollars, of up to 50% of the project’s cost.
Loan terms, including interest rates, are determined on a case-by-case basis.
The amounts financed vary depending on whether the bank is a first or second tier bank.
In 2021, the amount financed by Bancomext in the tourism sector was 40,831 million pesos or 21.2% of the total amount lent to «strategic» sectors.
While tourism is a sector regulated by federal laws and by laws issued by the states, the General Tourism Law and its Regulations constitute the legal framework for the sector at the federal level.
The Ministry of Tourism (SECTUR) designs and implements the sector policy, whose objectives are outlined in the Tourism Sector Program (PROSECTUR) 2020-2024, based on the PND 2019-2024.
Mayan Train
Mexico pursues an inclusive and sustainable tourism model. Among the objectives pursued to foster the growth of the sector is the diversification of tourism destinations and tourism markets.
Consequently, Mexico’s image abroad has been strengthened and digital platforms have been established to promote the different destinations and tourism products offered by Mexico; and projects such as the Mayan Train, to promote historical-cultural tourism in the Yucatan Peninsula, and training and certification programs have been implemented.
In addition, in order to achieve a more rapid recovery from the pandemic, efforts have been made to promote domestic tourism.
All tourism-related service providers must register with the National Tourism Registry (RNT), which is administered by Sectur.
Tourist land transportation services are reserved for Mexican individuals and legal entities, for which non-transferable permits are required (section 2.4). Foreigners may provide all other tourist services, including tourist guide services.
To provide these services, a credential issued by Sectur is required in order to register in the RNT.
