The Los Cabos Tourism Board announced today the successful creation of a new fund that will invest private contributions to promote initiatives and programs abroad for the destination.
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Funded entirely by the private tourism industry stakeholders in Los Cabos, the new fund was formed to keep Los Cabos up to speed and to continue promoting the destination in a proactive and competitive way.
“Faced with emergent economic challenges, we are extremely proud that our industry partners were able to come together so quickly and unite with a common purpose,” said Rodrigo Esponda, managing director of the Los Cabos Tourism Board. “The creation of this new fund will supplement the existing resources generated through a 3 per cent lodging tax and ensure that Los Cabos remains a preferred destination for travellers around the world.”
What does the fund do?
The establishment of this private fund follows a trend of significant investment in Los Cabos tourism industry through 2019, with international arrivals growing by more than five per cent in the first quarter of 2019 and Canada’s tourism arrivals growth more than 12 per cent cumulative from January and February of this 2019.
Hotel inventory will continue to increase by 25 per cent until 2023, with more than 2,400 new rooms scheduled to be completed by the end of the year.
The luxury destination has made similarly strong financial commitments in the area of security, injecting over $50 million into safety initiatives. The rollout of a five-point security action plan has resulted in upgraded security infrastructure, equipment, and personnel.
Los Cabos has enjoyed a 90 per cent decrease in security incidents year over year, and is not currently subject to any travel restrictions or advisories from the Canadian authorities.
For more information, visit www.visitloscabos.travel.
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