Cancun, Quintana Roo — A 61% surge in jet fuel prices since January has raised concerns for airlines and tourism in the Mexican Caribbean, but state officials and business leaders say the destination remains competitive heading into the summer season.
Bernardo Cueto Riestra, head of Quintana Roo’s Tourism Secretariat (Sedetur), acknowledged that fuel costs are one of the industry’s biggest challenges. “The industry is complicated; the increase in hydrocarbons represents a challenge, but we are maintaining our routes,” he said, adding that connectivity to the state remains stable.
The price spike is driven by geopolitical tensions in the Middle East, which have pushed up global crude prices. Local businessman Javier Carlos Olvera Silveira noted that external factors prevent short-term price reductions, despite federal tax incentives on the Special Tax on Production and Services (IEPS) applied by the federal government.
Jet fuel now accounts for up to one-third of airlines’ operating costs. However, Andrés Martínez Reynoso highlighted that collaboration with hotels helps keep the destination a global leader. Strong demand for the Mexican Caribbean acts as a buffer against economic volatility, he said.
