The future of Puerto Vallarta and Banderas Bay

Fernando Castro is a dynamic developer and President of the Bahía de Banderas Business Association (AEBBA). As the head of this association, he is involved in the urban development of the area that goes from Bahía de Banderas to Puerto Vallarta and therefore it is very interesting to know his vision on this subject.

What are the main challenges for the real estate sector in Puerto Vallarta and Bahía de Banderas in the coming years?

The first is water. Although we receive flow from 3 tributaries and it was thought that there would be no problem in this sense, investment is already required to have vital liquid, because this goes hand in hand with development.

The second challenge is the roads, derived from the growth of the vehicle fleet, public transport and even for bicycles. This has to do not only with avenues and streets, but with coordination and strategy for public transport, because as they are two federal entities, with different regulations, the issue is complicated.

And what do you tell us about opportunities?

It is a destination that is booming nationally and internationally and there are many job opportunities for trained personnel, but not enough supply. There is an opportunity in training the labor sector to provide higher value services to tourists.

Is sustainable development being promoted?

Yes, one of the actions that are being implemented is the Tourist Observatory. The theme is to propose, based on technical data, where cities can grow, what their future is, what is best for them and how we can carry it out.

What is the role of the Association of Entrepreneurs in promoting tourism in the region?

Based on the experience of its members in tourism, the Association seeks the best promotion strategies for the destination.

How are you getting involved in job creation and the quality of life of the inhabitants of this area?

One of our challenges is to establish links with universities and technological institutes so that they train graduates who really add value to jobs in companies in the region. We want the link between the graduate and the job to be much shorter and more effective.

And what about security?

Our work is aimed at the communication of incidents and prevention. This implies that the businessman works hand in hand with the municipal, state and federal authorities.

What is the growth projection for the coming years?

In the next 20 years, growth is projected to double in growth in both population and GDP. What does Puerto Vallarta offer to foreign investors interested in the real estate sector?

After the pandemic, people have paid particular attention to health, to having a place to rest, to eat well, and to practice mindfulness. And Vallarta combines sea, mountains and natural activities, as well as excellent restaurants that make it an almost unique destination nationwide.

What initiatives are you currently promoting to boost tourism?

The expansion of the airport, which is already underway, the opening of the new section of the motorway –which allows greater connectivity– and the water taxi project, which can be a great mobility alternative.