The Economy Of Puerto Vallarta.

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Outlook for the year 2024

While financial markets, whether physical or virtual, serve as means to conduct buying and selling operations of securities, facilitating interaction and exchanges for the negotiation of various financial products or instruments, known as financial assets; they play a fundamental role as a medium of economic dynamism. These markets promote free competition, where the relationship between the market supply of a good or service and the demand from consumers is observed. Puerto Vallarta is home to companies with significant investment capabilities, high-quality hotels, top-tier restaurants, and transnational stores.

Despite the changes experienced in the market during the past year, the real estate sector of Vallarta Riviera Nayarit retains its strength, offering opportunities for those looking to diversify investments or find a sun-drenched retreat during the winter. In 2023, the overall real estate market experienced a 30% decrease in gross sales, amounting to 5.9 billion dollars, a decline from the previous year's historical peak of 8.5 billion dollars. Market experts interpret this decrease, partially attributed to the post-COVID exodus from the United States, as a stabilization phase. However, the market is still significantly above the 2020 figures, with 3.4 billion dollars, indicating a positive upward trend that we anticipate will persist.

Regarding the hotel sector, Puerto Vallarta closed the year 2023 with a 15% increase compared to the previous year, solidifying the municipality as the national leader in terms of the country's beaches. Hotel occupancy reached 100% by the end of the year, and the director of the Trust for Tourism of the State of Jalisco, Luis Antonio Villaseñor Nolasco, assures that these figures will remain high at least during the first half of the year.

All of this will generate significant economic mobility and large investments for the region, allowing for the support of projects that contribute to improving the tourism activity, which is the primary and most prominent source of income for Puerto Vallarta.