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Banco Sabadell says recent events will not deter Cancun, Riviera Maya investments

Cancun, Q.R. — Banco Sabadell says recent travel events will not affect their Cancun and Riviera Maya investments, saying they are marginal issues considering how many millions of tourist come to the area every year.

Francesc Noguera Gili, CEO of Banco Sabadell Mexico, says that due to recent events such as the travel alerts that resulted from the Barcos Caribe ferry, his company has invested a lot of money into Cancun and Riviera Maya and will continue to do so.

Noguera Gili pointed out that over the past four years, his company has invested around $600 million USD into the region, 80 percent of which is in the Cancun, Riviera Maya tourism sector. He says Bano Sabadell is currently in the process of analyzing eight more proposals to grant financing for projects for the region.

In regard to recent travel incidents, Noguera Gili says, “These are absolutely marginal issues within the set of how many millions of tourists come to this area each year. I do not think this has an impact, I think on the contrary.

“This destination has unbeatable conditions. We are talking about an infrastructure without parallel in the Caribbean … and we are seeing many investment projects. We are seeing a lot of appetite to continue growing here, especially in this area, Cancun and Riviera Maya.”

He also stressed that the area has a privileged geographic location, having important tourism neighbors such as the United States and Canada.

“The growth we are experiencing is very large and, in particular, in Cancun we have a business banking office headed by Teresa Morales who is very dedicated to financing the hotel sector.

“We have many interests funded in Cancun and Riviera Maya, not only because we are a bank operating in Mexico, but because it is the most important destination in Mexico, a thriving destination, and we feel very comfortable,” he said.

Banco Sabadell is a Spanish bank that opened its doors 27 years ago. Due to investment opportunities, the bank opened an office in Cancun nearly four years ago. They also have a team in Mexico City dedicated to hotel sector investments as well as a branch in Miami to help with investments in Mexico.