Playa del Carmen Expects 17 Million Pesos in Economic Boost From Year-End Events

Playa del Carmen, Quintana Roo — The municipal government has scheduled nine events for the final three months of the year, projecting about 17 million pesos in economic impact for local businesses.

Estefanía Hernández, the city’s economic development secretary, said the events will offer spaces for roughly 500 entrepreneurs, who are expected to generate about seven million pesos in direct spending. Applications to participate are now posted on the municipal website.

Another 10 million pesos would come from indirect spending, including suppliers and other expenses linked to the events.

Hernández said the administration is focused on both attracting investment, through a working agenda with national business chambers, and boosting local consumption and supply chains.

The secretary acknowledged that local businesses have had a difficult year, which prompted the city to offer various tax incentives over the past two months. She said the mayor would announce additional measures on Monday.

Mayor Estefanía Mercado had previously announced a 50% discount for businesses with spaces on Fifth Avenue.

“There are currently challenges with inventory and rent payments,” Hernández said. “That is why we are working with Nacional Financiera (Nafin), American Express and BBVA to reach agreements that, once finalized, we will promote with local businesses.”

The city has offered financing through Nafin at a preferential annual rate of 12%, which many local businesses have used, Hernández added.