WEBVTT - Los Cabos Is Mexico’s Fastest-Growing Luxury Destination

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio news.

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<v Speaker 2>This is Bloomberg Business Week with Carol Messer and Tim

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<v Speaker 2>Stenebek on Bloomberg Radio. Well before Striking Texas, Beryl crashed

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<v Speaker 2>through the Caribbean, raking across Jamaica and Mexico's Yucatan Peninsula.

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<v Speaker 2>On the completely other side of Mexico, at the southern

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<v Speaker 2>tip of the Baja California Peninsula on the Gulf of

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<v Speaker 2>California and the Pacific, we find our next guest, who

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<v Speaker 2>has the enviable task of living in the resort city

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<v Speaker 2>of Cabo San Lucas.

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<v Speaker 3>If you need some help, you can reach out to us.

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<v Speaker 3>We've got back with us Rodrigo Espanda. He is managing

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<v Speaker 3>director of the Los Cabos Tourism Board. He joins us

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<v Speaker 3>from Los Cabos, Mexico. Rodrigo's Rodrigo. It's been a few years,

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<v Speaker 3>so it's great to be back with you.

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<v Speaker 2>How are you.

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<v Speaker 3>I think the last time we talked to you is

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<v Speaker 3>December of twenty twenty, A very different.

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<v Speaker 1>Time, definitely, Carol, this is a pleasure to be back

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<v Speaker 1>in your program, so thank you very much for having me.

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<v Speaker 3>How are you doing? Tell us what the last few

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<v Speaker 3>years have been like and where you are where and

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<v Speaker 3>how it compares to where you are a pre pandemic.

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<v Speaker 1>Well, as team was just mentioning, we are in a

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<v Speaker 1>very good position. Of course, we have completely recovered from

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<v Speaker 1>the volume of tourists or the tourists, and there's been

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<v Speaker 1>different trends. We continue to grow in a steady and

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<v Speaker 1>sustainable way and that's definitely a very good position to

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<v Speaker 1>be and we're waiting to have a fantastic summer.

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<v Speaker 4>The summer, as you know, is just starting.

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<v Speaker 1>The weather is very nice and a lot of different

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<v Speaker 1>activities that you can do enjoying this fantastic weather that

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<v Speaker 1>we have in the Los Cagos area.

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<v Speaker 2>Well, year round weather's good there, but give us an

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<v Speaker 2>idea of how important summer is and sort of the

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<v Speaker 2>peak seasons for you.

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<v Speaker 1>Well, we are a destination that we never run completely full.

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<v Speaker 1>So it's not a destination that is at one hundred

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<v Speaker 1>percent capacity because it's not.

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<v Speaker 4>A massive destination.

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<v Speaker 1>We prefer quality than quantity, however, and the weather, as

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<v Speaker 1>you mentioned, is very mild because it's low humidity year

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<v Speaker 1>round of low commidity, so we never have a big

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<v Speaker 1>humidity that is affecting the destination. But we have a

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<v Speaker 1>big season that is in the winter, around the holiday season,

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<v Speaker 1>and then the summertime. The south of the United States

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<v Speaker 1>travels to Los Cabos, So we also have a peak

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<v Speaker 1>in July and August. Especially the states like Texas, Arizona,

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<v Speaker 1>New Mexico, California, they travel to Los Cabos in the summertime.

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<v Speaker 1>And let's say the north part New York, Illinois and

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<v Speaker 1>the North Park, Mississippi, with all that part travels in

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<v Speaker 1>the winter.

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<v Speaker 2>I'm curious about the new hotel rooms that are coming

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<v Speaker 2>online in the coming years because you said you focus

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<v Speaker 2>on quality, not quantity, but you have quite a quantity

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<v Speaker 2>of rooms coming on in the next few years. You've

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<v Speaker 2>got seventy rooms at the Soho House and Beach Clubs

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<v Speaker 2>that to open this year, one hundred and twenty rooms

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<v Speaker 2>at the Saint Regions Cabos this year, next year, two

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<v Speaker 2>hundred rooms at the Park Hyatt. Then you got fifty

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<v Speaker 2>five rooms and then another hotel coming in twenty twenty seven.

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<v Speaker 2>At what point does it become too crowded? Is that

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<v Speaker 2>a concern for you?

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<v Speaker 1>Well, no, because you know exactly check the number of

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<v Speaker 1>rooms that you are mentioning. If you compare it to

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<v Speaker 1>any other destination. Instead of having seventy they have seven

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<v Speaker 1>hundred or two thousand rooms. So we exactly the model

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<v Speaker 1>of the hotels that are coming into Loscalos that we

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<v Speaker 1>currently have is between one hundred and two fundred rooms.

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<v Speaker 1>So we have eighteen thousand rooms in total and we

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<v Speaker 1>are expecting seven hundred more so in the in the

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<v Speaker 1>next two or three years. And because of the names

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<v Speaker 1>that you just mentioned in terms of the investment, they

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<v Speaker 1>are definitely.

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<v Speaker 4>Quality properties that are very different from one to each other.

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<v Speaker 1>So each of them are trying to attract a different

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<v Speaker 1>niche of traveler. Some of them would be more focused

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<v Speaker 1>on high end astronomy, more on the rustic experiences in

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<v Speaker 1>the middle of a natural preserved area, So all of

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<v Speaker 1>them have some differences on but we have the area

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<v Speaker 1>as we are in the deep south of the Waka Peninsula.

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<v Speaker 1>We have the largest postline with the Pacific and the

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<v Speaker 1>Sea of for Tests, and the two of the two

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<v Speaker 1>bodies of water are completely different. So if you're staying

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<v Speaker 1>in the Pacific side and you see sunsets, and if

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<v Speaker 1>you're staying in the Sea of What Tests, you see

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<v Speaker 1>sun rises. So the temperature of the water, the natural

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<v Speaker 1>beauty is.

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<v Speaker 4>It's very different.

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<v Speaker 1>So you can move from one part to the other,

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<v Speaker 1>so you can have breakfasts in the Pacific and then

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<v Speaker 1>have launch on the other side.

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<v Speaker 5>Sign me up.

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<v Speaker 2>Let's get right back to Rodrigo Esponda, managing director of

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<v Speaker 2>the Los Cobos Tourism Board, joining us from Los Cabos, Mexico. Okay, Rodrigo,

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<v Speaker 2>forgive us, but we gotta go here because I have

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<v Speaker 2>a colleague who absolutely flat out refuses to go to Mexico.

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<v Speaker 2>He's concerned about crime, he's concerned about the headlines that

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<v Speaker 2>he sees. And I was doing some research about the

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<v Speaker 2>and I looked into it, and I just want to

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<v Speaker 2>give you some startling figures. Our going president Amlo presided

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<v Speaker 2>over the bloodiest term in the country's recent history, more

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<v Speaker 2>than one hundred and seventy thousand homicides from twenty eighteen

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<v Speaker 2>through March. Even this year's election was affected of some

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<v Speaker 2>thirty seven political candidates were murdered. What would you say

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<v Speaker 2>to people who see that news, see those headlines, and

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<v Speaker 2>are concerned about potential violence in Mexico.

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<v Speaker 1>Well, we are definitely aware of some challenges in certain

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<v Speaker 1>areas in Mexico, however, the truism destinations are perfectly fine,

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<v Speaker 1>and in Los Cabos in particular, safety and security has been.

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<v Speaker 4>A top priority. So if you go back to.

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<v Speaker 1>Many year, seven years or eight years, in terms of

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<v Speaker 1>Los Cabos, we have consistently ranked as the safest municipality

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<v Speaker 1>among the one hundred that our mercier in Mexico. So

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<v Speaker 1>even though that we're aware of those challenges in the

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<v Speaker 1>truism destinations, the visitors are fine, and Indos Catos in particular,

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<v Speaker 1>we make it a big priority. And we were just

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<v Speaker 1>discussing about the big investments that are coming. Precisely Induscoutols

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<v Speaker 1>are coming those investments because the safety conditions, the rule

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<v Speaker 1>of law, and the weather and the proximity to the

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<v Speaker 1>United States make it very attractive.

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<v Speaker 2>To to what extent though, do those headlines and those numbers,

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<v Speaker 2>in your view drown out potential visitors who say, you

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<v Speaker 2>know what, I'm too scared to go. Do you think

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<v Speaker 2>that happens?

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<v Speaker 4>Well, I would go.

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<v Speaker 1>Back to the State Department travel warning, and as you know,

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<v Speaker 1>all over the world, the State Department makes it very

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<v Speaker 1>particular recommendations for travelers. In the case of Mexico, we

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<v Speaker 1>are the only country that clearly differentiates by states and

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<v Speaker 1>by rigs, so I would go back to precisely consulting

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<v Speaker 1>checking those and if you will review it, the truism

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<v Speaker 1>destinations are fine. And in the other areas, because Mexico

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<v Speaker 1>is a very large country, the State Department makes it

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<v Speaker 1>very clear the areas that travelers should go or should

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<v Speaker 1>not go, and it makes specific recommendations even in the highways,

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<v Speaker 1>the areas, the time frame or specific conditions that the

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<v Speaker 1>travelers need to follow.

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<v Speaker 4>So I would abide to that, and.

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<v Speaker 1>In our case, in the case in the case of

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<v Speaker 1>Los Cabos, has been consistently a top rank area to

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<v Speaker 1>visit and it will continue to do so because we

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<v Speaker 1>work very hard.

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<v Speaker 4>To make sure. I'm wondering.

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<v Speaker 2>You know, we talk a lot about national politics on

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<v Speaker 2>our show, so I want to talk about national politics

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<v Speaker 2>in Mexico. We've covered Claudia Shinbaum's victory becoming the first

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<v Speaker 2>female president in the country's two hundred year history. She

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<v Speaker 2>set to take office later this year. Are you optimistic

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<v Speaker 2>that she could improve the numbers that I shared with

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<v Speaker 2>our audience earlier, that she will make the country safer?

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<v Speaker 1>I think the positive feeling in Mexico in general after

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<v Speaker 1>the election has been very good. She as you know,

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<v Speaker 1>she comes back from the scientific background, so she's going

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<v Speaker 1>to be the first president that would have a PhD

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<v Speaker 1>in Mexico, which is something that is a resemblance of

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<v Speaker 1>the advance that the knowledge and the education has been

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<v Speaker 1>having in the country. Is the first woman and only know,

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<v Speaker 1>I think the positive feeling in general for the science

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<v Speaker 1>the technology. She just also mentioned on the different members

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<v Speaker 1>of the cabinet, so she has even created another ministry

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<v Speaker 1>that would be just dedicated on the science and the knowledge.

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<v Speaker 1>So I think that's a reflection. And in the case

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<v Speaker 1>of tourism, I'm sure that precisely because of her background,

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<v Speaker 1>it would be a way to improve in general the conditions.

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<v Speaker 1>The average level age of Mexico is twenty eight years old,

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<v Speaker 1>so we are a very young country and precisely what

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<v Speaker 1>we need is just to continue working very hard to

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<v Speaker 1>the conditions to have a better way of living. Tourism

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<v Speaker 1>provides that in general, one out of ten jobs in

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<v Speaker 1>the country in Mexico are created or are related to tourism,

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<v Speaker 1>and I'm sure that this would continue. The tourism area

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<v Speaker 1>is the first employer for the young people when they

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<v Speaker 1>leave college so they have some technical profession and also

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<v Speaker 1>is the second one in terms of women employment of

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<v Speaker 1>So the level of conditions that you can provide and

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<v Speaker 1>to improve in Mexico are definitely connected to the level

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<v Speaker 1>of tourism and the many visitors that we receive.

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<v Speaker 3>But we go if there is one policy you could

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<v Speaker 3>change in your country to help even more the tourism industry,

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<v Speaker 3>as you say and shared with us some statistics, ninety

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<v Speaker 3>percent of people rely directly or indirectly on the tourism

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<v Speaker 3>ministry and those cabbos. If there was something you could

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<v Speaker 3>change or have the government help you folks with, is it?

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<v Speaker 3>Is it the crime area? What would it be?

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<v Speaker 1>Well, you know, as I was mentioned, because in the

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<v Speaker 1>case of Los Cagos, we don't have any crime statistics.

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<v Speaker 4>But you know, all it takes.

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<v Speaker 3>All it takes is one bad thing within the country

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<v Speaker 3>or in the tourist areas, and it doesn't matter where

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<v Speaker 3>it is. People just lump it all together.

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<v Speaker 1>Well, definitely, if the safety conditions in general are improved

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<v Speaker 1>in the country, that would be better off, not only

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<v Speaker 1>if for tourists but for in general for the community.

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<v Speaker 1>But one area that I believe that would be very

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<v Speaker 1>good for tourism in general. It's energy, and precisely, the

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<v Speaker 1>president comes back from the energy and the environmental studies.

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<v Speaker 4>That's what she has as a PhD.

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<v Speaker 1>So we believe that if there is some connection to

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<v Speaker 1>improve the energy in terms of naked much more sustainable,

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<v Speaker 1>and we have that conditions related to tourism, it would

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<v Speaker 1>be better because then it would be more sustainable, it

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<v Speaker 1>would be more efficient, and it would be more economical

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<v Speaker 1>for all. So hopefully that would make the cads that

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<v Speaker 1>we would be having. With the weather that we have,

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<v Speaker 1>it's very easy to have solar panels and many other

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<v Speaker 1>sustainable ways of producing energy. Besides, definitely I agree that

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<v Speaker 1>the conditions of safety in general the country needs.

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<v Speaker 4>To be broken, all right.

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<v Speaker 3>Good to know, good to know. One thing I am

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<v Speaker 3>curious is who is traveling to Los Cabos. Has the

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<v Speaker 3>demographics of who is coming? Has that changed it all?

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<v Speaker 5>Since the pandemic it has dramatically change and now forty

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<v Speaker 5>five percent of our travelers are millennials from twenties to

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<v Speaker 5>thirties and not only traveling to Los Cabos, And.

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<v Speaker 1>That's very interesting because they are also investing they are

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<v Speaker 1>buying second homes. In many of the hotels that we

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<v Speaker 1>were mentioning at the beginning, they have residential homes as

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<v Speaker 1>part of their hotels. So then you buy arrested that

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<v Speaker 1>is part of one of these branded hotels, and they

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<v Speaker 1>use it partially during the year. You can block it

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<v Speaker 1>and then you pass it to their property to the

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<v Speaker 1>hotel in order to have as an income.

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<v Speaker 4>So it's been changing.

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<v Speaker 1>Also, people have been traveling more looking for sustainable practices

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<v Speaker 1>for wellness, for gastronomic experiences, for community engagement. So those

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<v Speaker 1>friends have been dramatically changing, and the age of the

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<v Speaker 1>travelers have been getting Junger.

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<v Speaker 3>What can I just ask you? Is it largely Americans? Europeans?

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<v Speaker 2>The mix?

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<v Speaker 3>Has that changed at all? Just quickly?

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<v Speaker 1>No, it's Americans. Eighty percent of our travelers are Americans,

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<v Speaker 1>mainly California, Texas, New York, Illinois.

0:12:42.920 --> 0:12:44.520
<v Speaker 4>That are our main markets.

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<v Speaker 2>Hey talk to us a little about the airports and

0:12:46.760 --> 0:12:50.440
<v Speaker 2>the flights and availability of flights. Is that is the

0:12:50.480 --> 0:12:54.479
<v Speaker 2>airport and a lack of new flights. Is that restraining

0:12:54.520 --> 0:12:55.000
<v Speaker 2>you at all?

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<v Speaker 1>Well, we've been we have very cities in the United

0:12:59.040 --> 0:13:02.520
<v Speaker 1>States with non stop to Los Cabos, which is definitely

0:13:02.960 --> 0:13:05.280
<v Speaker 1>something that we've been working very hard. There are some

0:13:05.320 --> 0:13:07.520
<v Speaker 1>pockets in the United States that we're still working for

0:13:07.559 --> 0:13:11.520
<v Speaker 1>example Boston or Miami that we need to have an

0:13:11.559 --> 0:13:14.719
<v Speaker 1>on stop flight. But besides those two areas, we have

0:13:14.800 --> 0:13:19.280
<v Speaker 1>three cities, and the airlines have been also expanding, not

0:13:19.360 --> 0:13:22.000
<v Speaker 1>only in the routes in the number of flights daily

0:13:22.080 --> 0:13:25.200
<v Speaker 1>that they have, but also in the number of seats.

0:13:25.280 --> 0:13:30.040
<v Speaker 1>The airplanes have been getting more efficient. After COVID, there

0:13:30.080 --> 0:13:32.480
<v Speaker 1>is a new generation of planes that are in the

0:13:32.559 --> 0:13:35.200
<v Speaker 1>market and that is also been.

0:13:35.120 --> 0:13:36.720
<v Speaker 4>Providing more travelers.

0:13:36.760 --> 0:13:40.480
<v Speaker 1>But of course that continues to be the case that

0:13:40.480 --> 0:13:43.120
<v Speaker 1>there are more opportunities for more travelers looking to flight

0:13:43.679 --> 0:13:46.680
<v Speaker 1>in shorter distances through different different parts.

0:13:46.760 --> 0:13:49.600
<v Speaker 3>All Right, Rodrigo, thank you so much, really appreciate you

0:13:49.640 --> 0:13:52.000
<v Speaker 3>spending a lot of time with us. On this Monday, we.

0:13:51.960 --> 0:13:53.360
<v Speaker 2>Go remote from.

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<v Speaker 3>Have to trust my arm on that line. Rodrigo Esponda,

0:13:57.960 --> 0:14:00.680
<v Speaker 3>he is managing director of the Los Cabos Tourism Board,

0:14:00.720 --> 0:14:03.280
<v Speaker 3>joining us from Los Cabos, Mexico. I've been to Mexico

0:14:03.360 --> 0:14:07.920
<v Speaker 3>a ton of inside California, did you guys, It was

0:14:07.960 --> 0:14:09.720
<v Speaker 3>just a piece of cake, a piece of cake like

0:14:09.880 --> 0:14:10.480
<v Speaker 3>drive or

0:14:10.480 --> 0:14:13.480
<v Speaker 2>Did you I never drove, I've ever driven through the border.