American tourists see the Dominican Republic as more attractive than Mexico in terms of the value of the peso

As the Mexican peso appreciated against the dollar, hotels in Cancun, Riviera Maya, and Los Cabos increased their dollar rates to pay salaries and suppliers in pesos.

In terms of the exchange rate, 12 months ago the dollar was at 20.52 pesos and this Friday it closed at 17.13, so prices in pesos have gained more than 16%, while the Dominican peso has appreciated less than 1.0% in the same period and the same period. The Canadian dollar depreciated just over 2.0% against the US dollar. Just a few examples of short distance destinations from American Federation, published Dinero en Imagen.

Mexico is now facing the opening of competing destinations. Millions of Americans have chosen the beaches of the Mexican Caribbean and the country’s urban destinations, but now tourists are appreciating other options like the Dominican Republic, he revealed. REPORTUR.mx (Mexico suffers from 4 factors that slow down the arrival of tourists)

Something similar is starting to happen in the case of real estate in tourist destinations such as Los Cabos, where real estate prices in dollars rise by about 10%, while listing prices in pesos remain unchanged.

There, Dinero en Imagen points out, not only is there a risk of discouraging sales, but it is also possible that when the peso is adjusted against the dollar, which will happen sooner or later, the excess potential value of the dollar buyers will also be reduced.