According to the U.S. Department of Commerce, this year many U.S. tourists have shunned Cancun in favor of European destinations. The Mexican resort city had long been a favorite among American vacationers.
Reportedly, hotels and airlines have also noticed drops in demand. If the trend persists, it will be beneficial to MIP Cancun organizers and participants, who could expect lower prices. Airlines have already lowered their fares to the Mexican coastal destination, compared to last year.
In actual figures, a round-trip economy flight from the U.S. to Cancun this month decreased 10 percent compared to last year, and hotel accommodations are down eight percent.
However, the appreciation of the Mexican peso will partly compensate for the price reductions, which could result in an additional drop in tourism demand.
Drug-related violence is another concern, but more police officers have been assigned to patrol the region. Plus, the Moon Palace resort — which houses MIP Cancun — is located in what is considered a safe area.
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