More than two years after the inauguration of Tulum International Airport, the tourist destination is going through a difficult period marked by a decline in economic activity, low hotel occupancy, and a growing oversupply of real estate.
Specialists in the tourism and real estate sectors agree that the expectations generated around the new airport have not materialized as anticipated. Among the main problems are the reduction in air routes, the high cost of services and transportation, as well as security concerns.
According to Gene Towle, managing partner of Softec, one of Tulum’s main challenges is the imbalance in its residential development. While destinations like Cancún and Playa del Carmen have a wide range of housing options for residents and workers, Tulum has concentrated much of its growth on developments geared toward tourists and digital nomads.
This situation leads to a significant reduction in local consumption during the off-season, affecting shops, restaurants, and other businesses that depend on the economic activity generated by visitors.
For his part, Juan Vega, CEO of Habitaria, pointed out that the rapid real estate growth of the last decade has led to a saturation of properties intended for vacation rentals. Currently, there are thousands of homes available for sale and numerous projects under development, reflecting a clear oversupply in the market.
Experts believe that the combination of fewer tourists and the excess supply of real estate has exposed structural problems that now affect both the tourism sector and the real estate market.
Source: larevista
