TerraPay Strengthens its Position in Americas by Launching Services in Mexico and 15 Other Latin American Markets

Network

TerraPay, a leading global payments infrastructure company, bolstered its operation in the LATAM region after successfully launching in the USA and Canada earlier this year. TerraPay’s technology compliance systems and local partners enable their clients to conduct transactions cost effectively and seamlessly  on any bank account in the following countries: Mexico, Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Paraguay, Peru and Uruguay.

TerraPay has established itself as a global Partner to leading banks, Money Transfer operators, Mobile Wallet Operators and financial Institutions to facilitate digital transactions without borders. As a B2B company, TerraPay partners with other businesses and helps them leverage its agile, secure, and scalable technology platform to enhance their customer proposition for remittances, payments, and cross border spends.

It is interesting to note that remittance inflows into Latin America and the Caribbean grew by an estimated 6.5 percent to $103 billion in 2020. While COVID-19 caused a sudden decrease in the volume of remittances in the second quarter of 2020, remittances rebounded during the third and the fourth quarters. This rebound can be attributed to the improvement in the employment situation in the United States. Although employment numbers is yet not back to pre-pandemic levels, it did support the increase in remittance flows into countries such as MexicoGuatemalaDominican RepublicColombiaEl SalvadorHonduras and Jamaica, for whom the bulk of remittances originate from migrants who are working in the United States.

Moreover, Latin America (LATAM) is also one of the fastest-growing mobile markets in the world and mobile penetration in the region has been rising consistently. In 2018, there were 326 million mobile internet users in the region, and that figure is anticipated to burgeon to over 422 million  by 2025. Part of the reason for such exponential growth is that mobile is the main tool for internet access in Latin America, providing a portable way for people living in the rural areas to get online.

As mobile penetration continues to increase  in LATAM, it is also facilitating a surge  in the number of innovative apps that promote opportunities for social mobility, financial independence, access to overseas markets and societal development which gives TerraPay and its partners a great opportunity to do business in the region. Also, in the recent past, TerraPay embarked on the first step to enter the Colombian region for enabling cross-border digital payments partnered  with MOVii, a leading mobile wallet service that allows both banked and unbanked Colombians to do financial transactions from their mobile phone, with ease, convenience and security. Like partnership with MOVii, TerraPay is strategizing and planning to onboard more such wallets and increase its footprints in the LATAM region.

Speaking on the LATAM market and the viable opportunities it presents for TerraPay, Philip Daniel, Regional Director, TerraPay said Latin America was one of the few regions to see positive growth in remittances in 2020 despite initial projections that economic fallout from the pandemic would cause the number of people sending money internationally to friends and family to plummet. According to data from Creative Associates International, Latin America had a 1% increase in remittances in 2020, while the amount sent to Africa and Asia dropped by 9% and 8% respectively. Initial projections from the World Bank predicted a nearly 20% fall in Latin America at the start of the pandemic.This is one of the many indicators which represents the opportunity that lies in the region. At TerraPay, we believe that the smallest payment deserves a borderless journey as safe as the largest. We are currently registered and regulated across 15 global markets and has a strong network of partners at the ‘send’ regions; the existing network will further benefit our future partners and associates in 16 LATAM markets. Built to simplify the complex barriers that stand in the way of smaller global payments, TerraPay’s infrastructure assure that it reaches its destination safely and instantly.

In the future, TerraPay also plans to expand  footprints in other LATAM markets  like the Dominican Republic. It has been observed and stated by credible reports that remittances make up a significant part of the Dominican Republic’s economy, with estimates placing the value of remittances at about 8% of the total GDP in 2019, DR, after a GDP decrease of -6.7% during 2020, expects a GDP growth of 4.8% in 2021 and 4.5% in 2022 being well above of the LATAM region growth projection of 3.7% for 2021, DR double the average of most low-income countries. While some remittances come from Europe and other Latin American countries, a staggering 75% come from the United States. This data backs TerraPay’s plans to enter the region in near future, opens up an incremental opportunity for the people and businesses of DR to connect with TerraPay’s 4Bn+ bank and 1.5Bn+ mobile wallet accounts partner customers globally.

Share this around

Share this around

Discover excellence

Wish news would travel a bit faster?

We can send you regular updates so you'll never miss a thing. Simply subscribe to our list and we'll keep you in the post!

SUBSCRIBE TODAY

Tall Ship Cuauhtémoc, Mexico’s Star Attraction at Expo 2020 Dubai

Sailing Ship
  • The arrival of the sail training ship in Dubai on November 8 will be a major attraction.
  • The Foreign Ministry and the Navy are working together to promote Mexico.

Mexico’s participation in Expo 2020 Dubai, being held from October 1, 2021 to March 31, 2022, will feature the Navy’s ARM Cuauhtémoc BE-01 sail training ship, which will arrive in Dubai, United Arab Emirates on November 8. The Foreign Ministry coordinated its participation in the World Expo to promote Mexico’s culture, tourism industry and business opportunities abroad.

In keeping with President Andrés Manuel López Obrador’s instructions to the Foreign Ministry to promote the country’s business opportunities abroad, Foreign Secretary Marcelo Ebrard instructed the Undersecretary of Multilateral Affairs and Human Rights to coordinate Mexico’s participation in Expo 2020 Dubai with actors from the public and private sectors.

Mexico’s presence at Expo 2020 Dubai, the first World Expo to be held in the Middle East, Africa and South Asia region, is key to our economic reactivation, as it is an exceptional opportunity to showcase the economic and investment opportunities that Mexico offers to the world. The theme of the World Expo is “Connecting Minds, Creating the Future.” Over 190 countries are participating, and 25 million visitors are expected. It is essential to promote Mexico’s economic and business opportunities at a universal event of this size to boost its exports, increase investment and enhance the international presence of Mexican companies around the world.

The Cuauhtémoc sail training ship, also known as the Ambassador and Knight of the Seas, has made 40 trips to different regions of the world in its 39 years of service, with the goal of showcasing a young and enterprising Mexico and bringing a message of peace and goodwill to the world. More than forty classes of captains, officers, cadets and other personnel have been trained in the time-honored traditions of sailing, learning the ropes and to sail by the stars with a sextant while taking in the values of honor, duty, loyalty and patriotism.

The arrival and presence of the tall ship in Dubai will enhance Mexico’s participation and will be a major attraction on Mexico Day at Expo 2020 Dubai, to be held on November 10.  The sailing ship will have a ceremonial arrival in port, waving a monumentally-sized Mexican flag with its crew at their posts, its guns firing salutes of honor and live mariachi music onboard.

The ship began its 41st instructional cruise to Dubai on August 16 with a crew of 249 people, including 62 cadets from the Heroic Naval Military Academy. It left from Acapulco with stops at the ports of Balboa, Panama; Cozumel (Mexico); Norfolk, Virginia in the U.S.; Cádiz, Spain; and Crete, Greece. The Cuauhtémoc follows a carefully planned route with ports selected to enable it to navigate under sail as much as possible.

After Dubai, the Cuauhtémoc will continue its journey, putting in at the ports of Malta, Valencia, Santa Cruz de Tenerife and Rio de Janeiro, where it will participate in the “Velas Latinoamérica 2022” Regatta. Continuing through South America, the ship will then visit ports in Uruguay, Argentina, Chile, Peru, Ecuador, Panama, Colombia, the Dominican Republic and Curaçao, returning to Veracruz on June 23, 2022.

For the first time, the Foreign Ministry and the Navy agreed to have  Foreign Service officials on board to document the journey and serve as liaisons for promoting Mexico, in this case, at Expo 2020 Dubai. The goals is to strengthen the institutions’ collaboration in their promotion of Mexico.

The Mexico Pavilion at Expo 2020 Dubai was officially inaugurated on October 4.  The event was led by the Undersecretary for Multilateral Affairs and Human Rights,  Martha Delgado, with the Minister of State for Foreign Trade, Dr. Thani Bin Ahmed Al Zeyoudi, as a special guest of the Government of the United Arab Emirates. The Mexico Pavilion, located in the Mobility District of the Expo, has an area of 900 square meters divided into three levels to promote Mexico’s culture, SMEs, investment and cuisine.

Share this around

Share this around

Discover excellence

Wish news would travel a bit faster?

We can send you regular updates so you'll never miss a thing. Simply subscribe to our list and we'll keep you in the post!

SUBSCRIBE TODAY

Foreign Secretary Marcelo Edrard Addresses the Mexican Senate

Mexico City centre during the day
  • “The level of respect and attention that Mexico has abroad today is the highest we have had in our history.”-Marcelo Ebrard
  • “Mexico’s voice is heard because we have political and moral authority. If we didn’t, it would not be.”-Marcelo Ebrard 

Foreign Secretary Marcelo Ebrard recently appeared before the Mexican Senate to discuss the foreign policy aspect of the third annual report of President Andrés Manuel López Obrador’s administration. In the Senate, the Foreign Secretary said to the various political parties that Mexico’s political and moral authority has given it the highest level of respect and attention it has had in its history. 

Secretary Ebrard began by thanking the Senate for its State vision and readiness to support Mexico’s main initiatives and foreign policy positions. Later, the Foreign Secretary gave a comprehensive overview of the progress made by the Foreign Ministry in the tasks entrusted to it. He also highlighted the work done to obtain vaccines and supplies to combat the pandemic. 

The Foreign Secretary then spoke about:

  • the relationship with the United States, Latin America and the Caribbean, China,
  • strengthening ties with Africa, the Middle East and Asia
  • the various international agreements and Mexico’s active participation in multilateral organizations

Secretary Ebrard said that the most important task entrusted to the Ministry was to ensure Mexico’s timely access to vaccines, treatments and medical supplies during these difficult global circumstances. 

Regarding the relationship with the United States, Secretary Ebrard confirmed that, despite the negative pronouncements and predictions about the arrival of the new United States government, “we have a very good relationship with President Biden’s administration”. He recounted the high-level visits to both countries to discuss various topics, including migration, security, trade, and health. 

Secretary Ebrard said, with the United States, “we have been able to make progress with shared views on shared issues and on the future that must be addressed in the coming years.” The Foreign Secretary said that, regarding cooperation with the U.S., Mexico has laid out its priorities:

  • to reduce violence
  • reducing the consumption of narcotics
  • tackling the lack of opportunities that leads to violence in southern Mexico
  • reducing arms trafficking

Regarding migration, he said that Mexico has proposed transforming the model for handling the increase and the reasons for migration from the south to the north. The United States was invited to support development in Central America with an immediate-action package to attack the root causes of migration. Mexico, with its own resources, along with El Salvador and Honduras, has made great progress. He said that there are already more than 20,000 participants in the Sowing Life and Youths Building the Future programs. 

The Foreign Secretary said that Mexico is part of Latin America and must ensure that the regional organizations function. It was for this reason that the Celac Summit was organized, because “Mexico is part of Latin America and the Caribbean and we have been part of the Community of Latin American and Caribbean States since it was founded. Mexico has never missed that summit”.

The Foreign Secretary reported on the lawsuit Mexico has filed against the main U.S. gunmakers. “This is the first lawsuit filed by a government against the industry that I know of that the Court has admitted. This is not a suit against the U.S. government; it’s against the gun industry.” The lawsuit seeks to end the negligent sales practices engaged in by the gun companies in the U.S. 

Lastly, the Foreign Secretary announced that Mexico will preside over the UN Security Council in November. It will propose three main topics:

  • poverty and inequality as promoting conflict
  • the issue of arms trafficking
  • the coordination of UN agencies and institutions

Secretary Ebrard concluded by saying, “this is a good moment for Mexico’s foreign policy and for the recognition given to the Mexican government headed by President López Obrador. A moment in which Mexico’s voice counts and is respected”. 

The Ministry of Foreign Affairs reaffirmed its commitment to work together and coordinate with the legislative branch, to strengthen its foreign policy to benefit the country.

Share this around

Share this around

Discover excellence

Wish news would travel a bit faster?

We can send you regular updates so you'll never miss a thing. Simply subscribe to our list and we'll keep you in the post!

SUBSCRIBE TODAY

Kocomo Has Raised $56 Million to Allow Co-Ownership of Luxury Vacation Homes

Vacation home in Mexico with palm trees

The sharing economy has upended various industries, including car rides, private jet travel, and home rentals. Kocomo is the long-awaited extension into vacation home ownership.

 

Kocomo, a pre-seed stage proptech startup backed by leading U.S., European, and Latin American investors, has raised US$56M in debt and equity to tackle cross-border, co-ownership of luxury vacation properties. Kocomo’s mission is to make the dream of vacation home ownership an attainable reality for more people around the world.

 

“In the same way that Netjets uses shared ownership to create a more cost-effective solution for people to enjoy the benefits of private air travel, we apply a co-ownership model to create a smarter way for people to own and enjoy luxury vacation homes worldwide,” explained Martin Schrimpff, co-founder and CEO of Kocomo.

 

This funding round was led by AllVP and Vine Ventures — with participation from Picus Capital, Fontes – QED, FJ Labs, Clocktower Technology Ventures, and JAWS (the family office of Starwood Capital Group Chairman Barry Sternlicht), while the debt investment was financed by Architect Capital.

 

Investments from the founders of four of Latin America’s most prominent companies— including Mate and Florian of Loft, Oskar Hjertonsson of Cornershop, Carlos Garcia of Kavak, and Sergio Furio of Creditas — also make up the round.

 

Kocomo seeks to upend conventional vacation home ownership by enabling people to own a luxury vacation property abroad through its best-in-class co-ownership and property management model — starting with Mexico. “With Kocomo, we have created a new unit of real estate ownership that is better suited to actual use patterns for vacation properties — and our end-to-end platform makes co-ownership completely hassle-free,” added co-founder and CFO, Tom Baldwin.

 

Leveraging the power of technology, Kocomo aims to create a transparent marketplace that empowers people to purchase, own, and sell co-ownership interests in luxury homes through its vertically-integrated platform. In addition to benefiting from potential home appreciation and rental income, co-owners also experience stress-free vacations themselves as Kocomo manages both the luxury property and the other vetted co-owners.

 

Kocomo is led by a multinational team of seasoned entrepreneurs who are driven by their shared passion for international travel, technology, business, design, and real estate innovation. “We came together as a team because we believe vacation memories fuel life,” says co-founder and CPO, Graciela Arango. “Often our fondest memories are created during vacation — and we’re passionate about providing more accessible opportunities for people to own a vacation home that’ll serve as the backdrop to unforgettable moments like family game nights, learning how to ride a bike, or holiday celebrations.”

 

About Kocomo:

Kocomo is an early-stage proptech startup, backed by leading U.S., European, and Latin American investors. Leveraging the power of technology, Kocomo aims to create a transparent marketplace that empowers people to purchase, own, and sell co-ownership interests in luxury homes through its vertically-integrated platform, starting in Mexico. Kocomo’s mission is to make the dream of vacation home ownership an attainable reality for more people around the world.

 

For business enquires contact Martin Schrimpff CEO, Kocomo [email protected]

Share this around

Share this around

Discover excellence

Wish news would travel a bit faster?

We can send you regular updates so you'll never miss a thing. Simply subscribe to our list and we'll keep you in the post!

SUBSCRIBE TODAY

Butchershop Creative Acquires Maniak, A Digital-First Design and Technology Firm

Creative Design

Butchershop®, the global brand experience agency, has acquired Maniak™, a digital-first design and technology firm based in Guadalajara, Mexico. As a fast-growing independent agency, the move marks Butchershop’s continued investment in digital brand experience and innovation. Underscored by its most successful year to date in 2020 amidst the pandemic, Butchershop specializes in building brands in the new economy for B2B and B2C clients across health and wellness, hospitality, DTC and consumer products, fintech, crypto/blockchain, data + AI, SaaS and cybersecurity verticals. Past and current clients include BFA Industries, Okta, Databricks, Nike, Mountain Hardwear, and Real Chemistry. By combining proprietary brand discovery tactics, strategy, creative storytelling, brand design, digital experiences and solutions under one roof with Maniak, Butchershop will bring greater value to client partners and teams internationally. 

Founded over a decade ago by entrepreneurs Christian and Carlos Dominguez, Maniak has evolved over time with focus points in hardware, SaaS, digital media and marketing, serving markets in the US, Europe and Latin America. As a Butchershop company, Maniak will operate under the helm of Hector Garcia, who will transition from CEO of Maniak to Chief Innovation Officer of Butchershop. The addition of Maniak’s 56-person digital team advances Butchershop’s level of technical sophistication to build impactful eCommerce experiences, softwares, native applications, and unique digital brand experiences.

“Carlos, Christian and Hector have built an incredible team and practice. Maniak’s culture is something special which matters in this business. As an international agency, we are focusing our efforts to provide client partners with solutions for connecting their brand, business, and product to their customers and internal cultures,” says Trevor Hubbard, Global Butchershop CEO. “We’re continuing to invest heavily in the ‘digitization of brand’ to solve problems and create opportunities for our client partners. And Maniak is a key part of our collective growth.”

Founders Christian and Carlos will operate and lead a new joint venture created by the acquisition: ImaginedBy™, a smart incubator focused on building and launching digital SaaS products and platforms from the company’s braintrust and products partnerships with outside venture-backed founders. Leveraging the combined brand, business and product acumen of Butchershop and the technology capabilities of Maniak, several ImaginedBy™ funded projects are currently underway, including Priio™, a self-service SaaS platform that helps teams with prioritization, clarity and risk mitigation, launching in Spring 2021.

The acquisition of Maniak formalizes a longstanding working relationship between the two agencies. As part of Butchershop’s extended global partnership network, the US-, Europe- and Mexico-based teams are adept at decentralized collaboration. Most recently, the Maniak team has helped Butchershop win several innovative digital brand experience projects with companies like Exabeam, Snappy, BFA, ShapeTX, Voyo Adventures, and Okta.

“We are ready to build upon years of collaboration with Butchershop to open a new world of possibility as a united team, leveling up the existing digital know-how of Butchershop and scaling technological expertise and bandwidth,” said Chief Innovation Officer Hector Garcia. “Combining Maniak’s digital expertise with the renowned brand work that Butchershop is known for, we’ll be able to offer a wide-range of custom solutions for client partners ready to evolve their digital brand experiences, products and transformations.” 

With their first major acquisition, Butchershop is better positioned for accelerated growth. The agency has grown its global footprint and resources, increasing headcount by 19% in the last three months in New York, Los Angeles, Chicago and San Francisco and opened an office in Graz, Austria to better serve evolving and emerging client needs in the DACH market with venture firms, startup founders, and multinational brands. The diversity in client partner verticals and industries has helped the agency build long-term sustainability, adapting to market swings and shifts in real time.

Share this around

Share this around

Discover excellence

Wish news would travel a bit faster?

We can send you regular updates so you'll never miss a thing. Simply subscribe to our list and we'll keep you in the post!

SUBSCRIBE TODAY

IFC and Neolpharma Unite Efforts to Increase Accessibility to Medicines in Low Income Population and Finance Climate Change Mitigation Projects

Mexico pharmacy medicine

The International Finance Corporation (IFC), member of the World Bank Group, will provide a US$30 million to Neolpharma, a Mexican pharmaceutical group focused on R&D, manufacturing, distribution, and commercialization of high-specialty generics for the private and public health system, to satisfy the growing demand of high-specialty medicines for the middle to low income population in the region.

The loan will finance Neolpharma’s growth plan which includes expansion of its production facilities of high-specialty products and active pharmaceutical ingredients (APIs), the most important raw material in the production of medicines.

Juan Gonzalo Flores, Country Manager of IFC México, said: “Budget constraints have increased due to the Covid-19 crisis and other macroeconomic factors.  By financing Neolpharma’s expansion plan, IFC will contribute to increase the access and affordability of high-quality medicines in Mexico and the LAC Region for the middle to low income population in important therapeutic areas such as cardiovascular, oncology, central nervous system and diabetes.”  

Efrén Ocampo, CEO for Neolpharma group said: “We are eager to collaborate with IFC in accelerating our expansion plans, while also focusing efforts towards sustainability and long-term growth. By investing on production capabilities, we aim to bring more resilience to our production supply chain. Neolpharma remains strongly committed on improving accessibility of high-quality medicines to benefit underserved populations.”

The US$30 million financing package is composed of a US$15 million loan of IFC’s own account, and a US$15 million loan from Canada-IFC Blended Climate Finance Program (BCFP). This is the first transaction of IFC in Pharmaceutical sector that includes funding from BCFP. At least US$15mn of the Loan is earmarked for climate investment. The operation will contribute to reduce greenhouse gas emissions (GHG) by 11,400 tons per year and the implementation of climate change mitigation projects, such as waste heat recovery for efficient cogeneration in production sites, rooftop solar photovoltaic (PV) with battery storage and green buildings certified under Excellence in Design for Greater Efficiencies (EDGE).

Neolpharma will be one of the first EDGE certified pharmaceutical companies worldwide.

Globally, 100 million people fall below the poverty line every year as a result of healthcare costs. IFC works with generic pharmaceutical companies and global medical technology companies to bring the latest standard of care to emerging markets affordably.

Share this around

Share this around

Discover excellence

Wish news would travel a bit faster?

We can send you regular updates so you'll never miss a thing. Simply subscribe to our list and we'll keep you in the post!

SUBSCRIBE TODAY

Industry Groups Raise Alarm About Deteriorating U.S.-Mexico Trade Relationship

Mexico trade

27 leading food and agriculture associations have sent a letter communicating growing concerns over the rapid deterioration of the U.S.-Mexico trade relationship to Agriculture Secretary Thomas Vilsack and U.S. Trade Representative Katherine Tai.

The letter calls attention to alarming recent developments with regard to the food and agriculture trade relationship with Mexico and urges action to address these challenges.

Together, the group of associations represent much of the food and agriculture sector that is responsible for roughly one-fifth of the country’s economic activity, directly supporting more than 23 million jobs — constituting nearly 15% of total U.S. employment.

Signers include the American Farm Bureau Federation, the American Soybean AssociationCorn Refiners AssociationInternational Dairy Foods AssociationNorth American Meat InstituteNational Grain & Feed Association, and the U.S. Dairy Export Council.

The letter reads, in part:

“Mexico is one of America’s most important food and agriculture trade partners.

NAFTA has yielded strong benefits to both countries, and the U.S.-Mexico-Canada Agreement (USMCA) promises to build upon those gains.

“Yet, the food and agriculture trade relationship with Mexico has declined markedly, a trend USMCA’s implementation has not reversed.

“We respectfully urge your attention to this important, but quickly deteriorating, trade relationship.”

Leading concerns highlighted by the group include a ban on glyphosate and genetically modified corn, increased obstacles to dairy trade, an organic export certification requirement, a state-sponsored campaign disparaging corn sweeteners from the United States, a cessation of review and approval of biotechnology applications, implications from meat industry market access and geographical indications, a potato export ban, and a new front-of-pack labeling regulation.

These issues, along with a large number of investigations on Mexico’s fresh produce exports to the United States, hamper the competitiveness of U.S. farmers, ranchers, and other members of the food and agriculture sector.

Share this around

Share this around

Discover excellence

Wish news would travel a bit faster?

We can send you regular updates so you'll never miss a thing. Simply subscribe to our list and we'll keep you in the post!

SUBSCRIBE TODAY

Mexico and Argentina Sign a Roadmap to Reactivate the Bilateral Mechanisms of the Strategic Partnership

Argentina & Mexico

As part of the official visit to Mexico of the President of Argentina, Alberto Fernández, a meeting was held today at the Foreign Ministry between the delegations of both countries. It was chaired by the Undersecretary for Latin America and the Caribbean, Maximiliano Reyes, and Guillermo Justo Chaves, Chief of Staff to the Argentinian Foreign Minister.

During the meeting, both sides reaffirmed their commitment to invigorating the political dialogue and cooperation through the Mexico-Argentina Strategic Partnership Agreement (SPA), which includes committees on political affairs, cooperation, and economic, trade and investment affairs. In line with the president’s instructions, a roadmap was signed to reactivate the existing institutional mechanisms ahead of the fifth SPA Council ministerial meeting in the second half of the year.

The roadmap is part of the joint statement the two presidents will sign at the end of the visit. It includes various agreements on bilateral, regional and multilateral issues of common interest in forums such as the Community of Latin American and Caribbean States (CELAC ) and the Group of Twenty.  

Regarding the current COVID-19 pandemic, the two sides stressed their desire to join forces and continue their close collaboration so that the region achieves self-sufficiency in vaccine production, and so that the vaccines are considered as global common goods.

Among the topics discussed, Argentina emphasized the importance of joining forces on international humanitarian assistance in light of the potential socio-natural hazards in the region, and of increasing the exchange of information and deepening coordination on comprehensive disaster risk management, resiliency and emergency response.

On cooperation, Mexico and Argentina reaffirmed their mutual interest in holding the seventh meeting of the Joint Commission for Technical and Scientific Cooperation, which will make official the 2021-2023 cooperation program to create technical cadres and promote complementarity between institutions.

At the regional level, the two officials highlighted their areas of agreement within CELAC, of which Mexico is  president pro tempore for the second consecutive year, and they reaffirmed their commitment to continue strengthening the community by implementing Mexico’s 2021 work plan.

Lastly, Undersecretary Reyes thanked President Alberto Fernández for accepting the invitation of President Andrés Manuel López Obrador to visit Mexico and to participate as a special guest in commemorating the bicentennial of the promulgation of the Plan of Iguala and Flag Day. He also thanked the Argentinian government for its willingness to participate in other historical celebrations that will take place throughout the year.

Share this around

Share this around

Discover excellence

Wish news would travel a bit faster?

We can send you regular updates so you'll never miss a thing. Simply subscribe to our list and we'll keep you in the post!

SUBSCRIBE TODAY

COVID-19 Antigen Testing For Guests Now Offered Onsite At Mexico’s Velas Resorts

Covid antigen test

Mexico’s Velas Resorts now offers in-house COVID-19 antigen testing for guests. As of January 26th, the Centers for Disease Control and Prevention (CDC) requires all US residents traveling back to the US to present documentation of a negative COVID-19 test. Testing in accordance with the new CDC requirements is available onsite at the resort collection’s six properties, in Los Cabos, Riviera Maya, Riviera Nayarit, and Puerto Vallarta. For guest comfort and convenience, certified medical workers from the local affiliated hospital come to the hotels to perform the test. The COVID-19 antigen test is included in the nightly rate and results are sent by email within 24 hours.

If a traveler tests positive for COVID-19 and requests to extend a reservation at one of the hotels, Velas Resorts offers a 75% discount on its listed web rates. An extra suite is also offered for the person who received a positive result to safely and securely quarantine separate from their family or other traveling companions if they choose. Designated suites are reserved away from other guests with strict Covid protocols in place. Stay will be subject to European Plan or All-Inclusive based on the hotel’s current offering for up to 14 nights.

Velas Resorts have received the global safety stamp of approval from the World Travel and Tourism Council (WTTC) due to its state-of-the-art safety and cleanliness protocols detailed in a 15-page Stay Safe with Velas program. Sanitizing mats and booths, touchless hand sanitizing dispensers, increased cleaning and sanitation with both EPA-chemicals, and special COVID-19 training for staff are examples of protocols being implemented by the resort collection. In addition to the antigen testing, PCR testing (for Canadian residents) is also available onsite or at a local hospital. Cost and results turnaround is based on each destination.

Share this around

Share this around

Discover excellence

Wish news would travel a bit faster?

We can send you regular updates so you'll never miss a thing. Simply subscribe to our list and we'll keep you in the post!

SUBSCRIBE TODAY

Playa Mundo Maya by GPS-Group is the New Holiday Destination in Isla Aguada, Yucatan Peninsula

beach

Playa Mundo Maya, a new boutique eco-hotel destination, is under construction on the Yucatan coast, located out of the sargassum and hurricane path in the Gulf of Mexico side of the Yucatan Peninsula in Isla Aguada, which just recently has been appointed “Pueblo Magico” – a top holiday destination in Mexico.

Isla Aguada has the most attractive white sandy beach in the State of Campeche; the area is set to be the brand-new luxury holiday destination: Playa Mundo Maya.

The first holiday rental villas and eco-hostel “La Playita” are ready. Several projects are under construction, and many more will be developed in the 42 km-long beaches to the north of Isla Aguada.

The Global Property Service Group (GPS-Group), the biggest landowner in the area, was just recently authorized to build the first eco-hotel resort and marine life observatory, and numerous eco-hotels, beach clubs, spas, retreats and boutiques will be built.

Mayan Train railway and Tulum Luxury airport projects start operating in 2023 with over 3 million tourists in Mundo Maya Area.

The US$10 billion railway project would link towns, cities, and tourist attractions in five southern states. It is expected to transport 8,000 passengers per day. The train project will trigger real estate investment of at least 150 billion pesos (the US$17.9 billion), according to the chief of the National Tourism Promotion Fund (Fonatur). The government says that the construction and operation of the Mayan Train will generate employment and economic prosperity in the whole southeast of Mexico.

Both the government and the GPS-Group aim to transform the island into the most attractive sustainable tourist destination in the Yucatan Peninsula.

The hotel zone will benefit local people as the land price is expected to increase, and residents are opening their businesses to serve all the visiting tourists. Local people can run every type of business to respond to the growing market’s demand. They will feel delighted with more job opportunities, which ultimately raise their standard of living.

Investors have turned their attention to Playa Mundo Maya, as the demand for hotel rooms is huge as Isla Aguada town has just under 100 hotel rooms available where other Pueblos Magicos have an average of 30,000 hotel rooms.

The most attractive part for investors is that the land price on the island is much lower than the other beach areas developed in the Yucatan Peninsula, where the huge demand from international hotel companies has been already pushing prices much higher in recent years. Regarding the local real estate company: Isla Aguada Real Estate, the average oceanfront land square meter price on Isla Aguada beach is now USD 77 per square meter compared to over USD 350 per square meter Riviera Maya, Quintana Roo coastline. Land price in Playa Mundo Maya is expected to increase strongly in the near future.

For many hotel owners who have faced last year’s severe seaweed problem in the Mexican Caribbean coastline, Playa Mundo Maya presents a natural choice to build their second eco-hotel as the millions of tons of seaweed have been piling up in Cancun, Riviera Maya, and nearby beaches in Tulum, Playa del Carmen, and Holbox.

Playa Mundo Maya is located on another side of the Yucatan Peninsula on the Mexican Gulf’s safe side, which is away from the sargassum path and the high-risk of hurricane impact.

Isla Aguada and Playa Mundo Maya have all the same ingredients for success as Playa Del Carmen and Cancun had 20 or 30 years ago, including pristine beaches and lagoon, Mayan ruins, and world-class fishing and diving, to name a few.

By the time the Mayan Train railway is operating, the Playa Mundo Maya will be competing with the world’s most attractive destinations for honeymoons and health retreats embracing the heart of Mexican culture.

Share this around

Share this around

Discover excellence

Wish news would travel a bit faster?

We can send you regular updates so you'll never miss a thing. Simply subscribe to our list and we'll keep you in the post!

SUBSCRIBE TODAY