Mexico to Fund $5.5 Billion Tourism Investment in Tamaulipas

WWW.TRAVELPULSE.COM [1]. Mexico’s National Fund for Tourism Investment — part of the country’s federal government — will fund up to 90 percent of the $5.5 billion Megaproject Costa Lora, in the state of Tamaulipas.

The first stage of the project, which will cover an area of 3,000 hectares and will include 23 kilometers of coastline, will bring basic tourism services to the area, followed by the development of golf courses and water sports on the laguna and riverside, as well as a central marina on the coast and a new residential area with housing for 150,000.

Five distinct tourism zones will offer both hotel accommodations and residential tourism options. A new airport is also anticipated and the concession for it has already been approved.

When complete, the Costa Lora project will double the hotel and tourism services available in the state of Tamaulipas; specifically the project will entail the construction of 6,900 hotel rooms and 11,500 condominiums and tourist villas.

Currently, the state of Tamaulipas has annual revenues of 1.2 billion pesos generated by tourism. The region receives 1.2 million visitors per year.