Recession in Acapulco.
Acapulco is a small tourist based city which has been affected lately from the world recession and the drug cartels.
The population is 1,334,160 (2005 information)Area:1,880.60 kms
We can track the problems in Acapulco all the way up to the U.S.
When the recession started back in 2007 due to the housing price crash, most U.S. buyers stopped buyingas much as they were prior to this problem to Mexico. Since Mexico’s mayor buyer i the U.S. (more the 50% of their products) Mexico stopped getting as much income as they were gettingbefore. This and the lower remittances sent to back to Mexico from mexican immigrants practically stopped the Mexican economy.
Unemployment rates went higher in the north of the country and center(it went from a 3.2% to a historic 5.0%)
Acapulco lives out of tourism, and most of their tourist come from Mexico’s city and the cities around it. Since the people in this cities weregetting fired or getting less income from their companies, the cash flow in Acapulco came to a halt.
Back in 2006, the Guerrero’s government stopped paying the news reporter Joaquin LopezDoriga the 6,000,000 annual pesos they used to pay him in other goberments so the announcer started giving bad reputation to the city’s beaches and night clubs as well as controlling the news tomake them sound worst than they really were.
Getting advantage of the situation with the drug cartels and the war being held with the president Felipe Calderon, he silently demanded the payback in the form of bad new to Acapulco.
All this news found way into the international news and Spring breakers stopped coming down to one of Mexico’s finest beaches so the economy down theregot even worst.
The situation there is not the safest but its also not ad bad as people say it is. Since 2008 Acapulco’s cash flow has come to historic lows but it will shine again.
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