Report Card: The Economic Crisis of 2010

Three local business leaders report that the economic crisis of 2010 took its toll on the private sector, but that the situation now seems to be gradually improving. The statement was made jointly by Javier Saldívar Rodríguez, president of Acapulco’s chapter of the National Chamber of Commerce, together with Pascual Romero García, president of the Acapulco branch of the National Chamber of Manufacturers, and Imelda Paredes de Álvarez, president of the National Chamber of Restaurateurs and Edible Products.

The crisis hit Acapulco especially hard because it reduced both the number of vacation visitors to the resort city and the amount of money spent on average by the tourists. Ms. Paredes said that many restaurants had to close, while several others cut back their days of operation to just the weekends. To save money, many tourists did not go to restaurants, but rather bought supplies at the grocery stores and ate in their hotel rooms.

Mr. Saldívar Rodríguez added that 130 members of the local Chamber went out of business during the year. He added that part of the drop in tourism relates to the streak of violence suffered in Acapulco during 2010, even though the vast majority of it occurred far away from the tourist zone.

Mr. Romero García added that of the 650 manufacturers belonging to Acapulco’s chapter of the national association, 65 of them, or 10%, had to close their doors. The remainder were forced to cut back on personnel or reduce the number of shifts.

In spite of the grim news about 2010, all three declared that 2011 looked to be more promising, as the national and international economies appear to be in recovery, and the violence seems to have subsided. Thanks to efforts by Acapulco’s security forces and to various efforts by government and the private sector to spread accurate information about the safety of the tourist zone, the coming year should show an overall positive trend, they affirmed.