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How is mzt fairing ?

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Portland, Oregon
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747 posts
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How is mzt fairing ?

Was just wondering how mzt is fairing thru the money hardships of the world. I am sure it is effecting the amount of poeple going on vacations down there because I noticed it last feb/march when I was down. I know the tourist trade is only part of mzt, but I feel for the poeple that work in that area. It's gotta be hard of them when they relay on tips and sells to live.

We aren't going this year, but will return in 2010.

So to all that go , please have a beer at sunset for me:)

Skiingfrog

Carson City, Nevada
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1. Re: How is mzt fairing ?

It seems to me that I read where Mazatlan is experiencing about a 20% downturn in tourism. Maybe mazbook and some of the other experts will enlighten us. Times are definately tough all over and Mazatlan is no exception.

Canada
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2. Re: How is mzt fairing ?

In 23 sunsets I'll do just that skiingfrog :D

Cheers

Mazatlan
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3. Re: How is mzt fairing ?

According to articles published in the last few months by the local paper Noroeste:

1. Tourism is only off about 4% from last year, but that obviously is only part of the picture. Tourists and locals alike are spending less. A lot less on retail (especially high end) and somewhat less on things like eating at restaurants (7% decrease). There have been more layoffs in the tourist/restaurant business this year than in 9/11, but up until the crisis hit, Mazatlan was gearing up for a record year, so that's part of those layoffs.

2. The real estate market, like in many places, is being hurt as well. Although we haven't seen the price decreases experienced in many parts of the US or Canada, inventory continues to grow and projects are being canceled leading to more unemployment in the construction industry. For example, the large convention center project has been canceled as have a number of condominium projects.

3. The dramatic devaluation of the peso hasn't really figured into the inflation rates here, but it probably will in 2009. On the other hand, Mexican exports (agricultural products are still our #1 industry in Sinaloa) will be even cheaper for the US, so exports should continue to grow.

4. The drop in oil prices has really hurt revenues coming into Mexican government which is causing a significant reevaluation of federal and local budgets.

5. The fishing and shrimp industry has been in a downward spiral for years - like in most other fishing ports throughout the world - and prices for high margin items like shrimp have fallen as people tighten the budgets abroad.

6. The 20% decrease in money being sent to folks living here from their families that work in the US certainly hurts. In addition, the paper reported some 42,000 workers (I know, that's a hard number to believe) currently in the US are expected to come back to Mazatlan looking for work.

I DON'T WANT TO SOUND ALL DOOM AND GLOOM!!! In many ways Mexico is in better financial condition than many other countries. The banking system is in excellent shape with little systemic risk. Government spending isn't being propped up by huge budget deficits.

Most people living here are accustomed to living frugally when need be and haven't seen large drops in 401K's or investments in the stock market. For example, if you have to sell the family car, no big deal. Public transportation is excellent in Mazatlan.

Mazatlan has been receiving a lot of good press as a budget destination, so maybe that will help smooth out the bumps expected in the next year.

Carson City, Nevada
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4. Re: How is mzt fairing ?

Thank you Mazhelp for the very informative post and let's hope that the situation improves for everyone so Mazatlan can realize the benefits. Mazatlan has always been one of the better values in Mexico and I will continue to bring my US dollars down there twice a year.

Portland, Oregon
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5. Re: How is mzt fairing ?

Thanks for the info Mazhelp. Wish I was going down in 2009, but gotta cut back on spending. However 2010 I'll make it down there.

Mazatlán, Sin...
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2,514 posts
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6. Re: How is mzt fairing ?

MazHelp's post pretty well nails the situation here. Still pretty good but there are folks hurting.

Here at the bookstore (a very limited viewpoint, I admit) we've seen a pretty normal start of the tourist season, albeit a bit on the late side. That's nothing new, though, as we've seen the season start as early as late October and as late as mid-December…now THAT was worrisome.

We won't see the real effect of the economic situation north of the border until our peak months of January, February and March, so for me, it's too early to tell yet.

Burnaby
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7. Re: How is mzt fairing ?

Writing from Maz let me note the following:

On last Sunday evening at Pedro and Lolas where I wanted a nice meal and listen to the great live music, there were no seats and an acquaintance had to add us to their table to get a seat.

Last night (a Tuesday night) at Te Amo Lucy when we went for dinner we got the last table in the outside section where we wanted to eat.

At the Old People Hostel where I am staying, we got the last room and speaking with the owner she says for the first time she is 100 percent booked out through the middle of April.

If any more people come, I will and we have not even reached the peak high season yet. Places that provide value for your money are doing better than previous years it seems (at least in my favorite part of Mazatlan, Centro Historico).

Portland, Oregon
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8. Re: How is mzt fairing ?

Glad to hear there are busy places. I firgued the less costly places would be more busy. If your a mzt lover you'll find away down. Besides those are great places

Mazatlan
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1,743 posts
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9. Re: How is mzt fairing ?

Yes and some airlines (US Air & WestJet) have just dropped prices dramatically for January flights. That too should help fill hotel spaces.

Considering the economic slump in the US, things could be MUCH worse here.

Carson City, Nevada
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3,970 posts
5 reviews
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10. Re: How is mzt fairing ?

I also noticed that Alaska airlines has dropped their prices from Reno for January. It's $445.00 round-trip as compared to $600.00 a couple of months ago.