CONTENTS: INTRODUCTION, WHAT IS A HOTSPOT?, JOLLY HARBOUR, ANTIGUA - ST. JAMES, BARBADOS - GOLDEN SANDS, BULGARIA - DUBROVNIK, CROATIA - DUBAI, UAE - EL GOUNA, EGYPT - FORTALEZA, BRAZIL - ACCRA, GHANA - GOZO, MALTA - BUDAPEST, HUNGARY - KINSALE, COUNTY DONEGAL, IRELAND - LIMASSOL, CYPRUS - CANCUN, MEXICO - NATAL MIDLANDS, SOUTH AFRICA - NAXOS ISLAND, GREECE - MOUNT MAUNGANUI, LEIGH, NEW ZEALAND - NIMES, FRANCE - ORLANDO, FLORIDA - PANAMA CITY, COSTA BLANCA, PANAMA - KRAKOW, POLAND - LAGOS, REDONDO, PORTUGAL - MURCIA, SPAIN - UNAWATUNA, GALLE, SRI LANKA - PHUKET, PATTAYA, THAILAND - FETHIYE, TURKEY - ISOLA D’ELBA, TUSCANY - QUEENSLAND, ADELAIDE
| CANCUN, MEXICO | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| C O U N T R Y
D A T A
| Population | 101.9 million persons | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Population Growth | 1.52 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Land Area | 1,923,040 sq km | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Currency & Exchange Rate | 1 new Mexican peso (Mex$) = 100 centavos (~ 0.048 GBP) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| GDP-PPPMethod | 861,294.0 millions of US dollars | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| GDP Growth | -1.800 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| GDP Per Head | 8,454.0 Thousands of US Dollars Per Person | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financial | Interest Rate | Inflation Rate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 7.09% | 5% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| National Bank | Banco de Mexico | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Political | Mexico is a federal republic encompassing 31 states and one federal district of Mexico. The powers are separated into three areas, with the president having executive power and appoints the cabinet. The president is elected for six years and cannot hold office for a second time. The other areas of power are the legislative and Judicial constituents. Two-thirds of Mexico's 58 million members of the voting electorate went to the polls, with President Fox gaining winning enough of these votes to gain election for the right-of-centre Partido de Accion Nacional (PAN). This came about after 71 years of rule by the Partido Revolucionario Institucional (PRI). However, PAN did not gain a landslide of the votes and the PRI still hold a strong majority of Mexico’s 31 states, especially in the south. President Fox announced that he was committed to modernising Mexico with view to a new, pluralist Mexican government, and that he would work with the PRI, PRD and other political parties in his cabinet. His key policies included fiscal reform, tackling rising crime, tackling drug trafficking and associated violence, major change to make Mexican politics less centralised, addressing human rights issues and raising educational standards. In the Congressional elections in July 2003, PAN lost around 50 seats in the lower house, causing unsettling news for Fox and his pledged reforms. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Social Security | Yes | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Languages | Spanish Various Mayan dialects | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Customaries | Handshaking is the most common form of greeting. Casual sportswear is acceptable for daytime dress throughout the country. At beach resorts, dress is very informal for men and women, but do remember that Mexico that Roman Catholicism is the prevailing religion of most Mexicans and such respect should be maintained in the cities and villages. Mexicans regard friendship and relationships as the most important thing in life next to religion and are not afraid to show their emotions. Local customs and traditions are of high importance for residents and this should be remembered. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ethnic Make-up |
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| Tax | Income Tax | Capital Gains Tax | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-residents are taxed on Mexican-source income only Residents (as of 2002):
Non-residents:
| Capital gains are not subject to a separate tax, but are included in ordinary income and taxed at the income rates as displayed. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Description | The major industries are manufacturing (including textiles, clothing, chemicals and automotive), agriculture, commerce, transport and communication, oil and gas, tourism, financial service and electricity. The major trading partner is the USA in addition to some trade links with Canada, Germany, China, Japan, Spain and the Netherlands. The agricultural sector does not play a dominating feature of the market as it did up until a couple of decades ago. Whilst most agricultural products are consumed domestically, the major economic source is from manufacturing. Mexico still has many structural problems to tackle as it seeks to modernise the economy and raise living standards. However, with the sluggish performance of the economy and divided congress, there is little scope of such fruition in the immediate future. The Mexican economy is heavily linked to the US economy despite the 33 free trade agreements (FTAs) it has including with the EU, central American countries, Israel and most recently Japan in March 2004. This may have some inextricable link between the USA and Mexican “maquiladoras” i.e. specialist assembly plants in Mexico that are based in Northern Mexico. Which rely almost entirely on the US market. The UK is the largest investor in Mexico after the USA. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| L O C A L
D A T A
| Investor Profile: | Cash & Equity Investor Pension Investor Downshifter Investor Business Investor | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Category: | Silver | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Population:
| Total | British | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 457,000 | 2,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Climate: | Hours of Sunshine Per Day in Summer | Days of Rain Per Year | January | July | Average Water Temp. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 10 | 50 ins of rain per year | 23C / 74F | 28C / 84F | 21C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Proximity to: | Airport | Beach | Nearest City | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cancun International Airport is 8km (5mles) south of Cancun City or you can arrive by sea. | Playa del Carmen, Chichen Itza and Mexico's Riviera Maya. | The islands of Isla Mujeres, Isla Contoy and Cozumel are the three most visited destinations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restaurants and bars: | Nightlife in Cancun is world famous. After dining out the party is just beginning. Options include art and culture exhibits, jazz clubs, salsa bars, reggae and rock. Tropical rhythms abound with live bands from Puerto Rico and Cuba. Most discos open about ten and have different promotions every night. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Sports and leisure facilities: | Cancun offers a great variety of vacation options. If you like the water activities you can choose from snorkelling, diving, fishing, water skiing, jet skiing, swimming, submarine trips, and much more. Cancun also offers the opportunity of exploring the many lagoon systems and 'cenotes' (sink holes). Golf courses are sprouting up all along the coast. You can play in Cancun, Riviera Maya, and Puerto Aventuras, and a new course is going in on Isla Cozumel. Tennis courts are scattered about Quintana Roo; the large hotels at Cancun, Akumal, Cozumel, and Puerto Aventuras have them. Bring your own racket. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Transport: | Public Transport | Roads | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| The bus system is very dependable and a great way to get between the city and the beaches with stops dotted throughout. | Taxis are everywhere. You can also rent a car, moped or bicycle. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Crime rate: | Cancun is a relatively safe city, with less crime than in most small cities across the U.S. Petty theft is the most common crime, and violent crimes are rare. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Main types of employment | Tourism is a thriving industry and sustains most of the city’s economy. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Future plans: | Mexico's fastest growing resort is even now engaged in several projects, a continuation of the Mexican Government's, Cancun Master Plan, and a program for growth that is ecologically sensitive. An undeveloped area southwest of the Hotel Zone, towards the airport, is poised for more hotels, housing, golf courses and a modern hospital. North of the Hotel Zone, Puerto Cancun is slated for construction; a luxury marina with low-rise hotels and waterfront properties. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Yield range | 11 – 25% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Type of property | Entry Price | Rent- Peak | Rent- Off Peak | Average Annual Yield | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2 bed apartment | £40,000 | £1000 | £700 | 25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3 bed apartment | £100,000 | £1300 | £800 | 13.2% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3 bed townhouse | £70,000 | £1300 | £800 | 18.8% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Detached | £135,000 | £1500 | £1000 | 11.1% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Demand for letting | Peak | Off peak | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Extremely high demand | Very high | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Finance and leisure scores: | Total (out of 10) | Financial (out of 5) | Leisure (out of 5) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 8 | 4 | 4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Flights scheduled from: | Regular flights available from all major cities throughout the UK | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Typical cost of flights: | Peak | Off Peak | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| £500 - £700 | £410 - £600 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operators: | Continental, American Airlines, Delta, Air France. AeroMexico, No direct flights. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Description: | Warm white sand beaches, crystal indigo seas, romantic Caribbean nights, world-class hotels, restaurants and nightlife; does all of this sound too good to be true? World-renowned fishing, diving and snorkelling, archaeological sites dating back thousands of years, a balmy tropical climate and water sports galore, and yet Cancun remains a tranquil retreat where you can relax to your hearts content along the peaceful shore of the Caribbean. Yields are great and can weather the 7%+ interest rate. Based on the research we did and the information presented above capital growth prospects will be low in the short term but will gather pace in the medium term. The economy is contracting but this is a temporary blip. Expect the economy to do a u-turn in the next 2 years. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Hot Website: | http://www.allaboutcancun.com/ | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Estate Agents: | Name | Address | Tel | Web | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Century 21 - Arce International | Av. Tulum - Centro | 52 (998) 884-1144 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Costa Maya Realtors | Av. Coba 30 - Centro | 52 (998) 884-2251 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mayan Group | María Elinda Múgica | Cancun, Quintana Roo, Mexico | 52 (998) 887 71 35 | realestate.mayangroup.com | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lemmus | Cancun Business Centre, Local G-9 Blvd. 77500 Cancun, Q. Roo, Mexico | 52 (988) 3-20-10 | www.lemmus.com | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Letting Agents: | Name | Address | Tel | Web | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mayan Group | María Elinda Múgica | Cancun, Quintana Roo, Mexico | 52 998 887 71 35 | realestate.mayangroup.com
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| Lemmus | Cancun Business Centre, Local G-9 Blvd. 77500 Cancun, Q. Roo, Mexico | 52 (988) 3-20-10 | www.lemmus.com | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||