| Mexico! Just remembering your first trip across the | | | | was ten years ago with flights arriving and departing |
| border to Tijuana, Mexicali, Nogales, Juarez, Nuevo | | | | constantly. A second International Airport is currently in |
| Laredo, Reynosa, Matamoros or any other border | | | | the planning stages. The prices of real estate have |
| town probably conjures up thoughts of poverty. | | | | roughly tripled during the past ten years as have the |
| Our first introduction to extreme poverty was 25 | | | | prices of materials and labor. |
| years ago near the outskirts of Mexico City and | | | | With the economy booming and full employment, the |
| we’ll never forget it. Although poverty still exists in | | | | majority of the locals now own their own cars and a |
| Mexico, it is nothing like it was due to the stable peso | | | | good portion of them are new. Most all the buses are |
| and the Mexican economy booming for the past | | | | new and clean and seldom do you ever see a clunker |
| decade. Furthermore, comparing resort cities on the | | | | with its muffler dragging behind. In fact, the standard of |
| Mexican Riviera to border-towns is like comparing | | | | driving has been substantially improved because the |
| Beverly Hills to Bangladesh! | | | | locals are proud of and take care of their new cars. All |
| We have been coming to Puerto Vallarta, Mexico, | | | | the streets are now clearly marked, often lined with |
| referred to as PV or Vallarta by the locals, and have | | | | palms, and kept immaculate. All of the thoroughfare |
| owned property here since 1984. In 1997 we | | | | roads are either new or have been doubled in size |
| purchased a beautiful new villa and made it our | | | | with new bridges, lighting, etc. There are so many cars |
| permanent residence. It has been a wonderful | | | | now in PV that congestion and parking have become |
| investment, having tripled in value during the past ten | | | | the main problems in our beautiful Paradise. Three new |
| years. In 2002 we invested some money in the | | | | parking garages have been built downtown during the |
| Mexican Bolsa, or stock market, at 3.25 pesos per | | | | past four years; one above ground and two below |
| share. That investment currently trades at 11.55 per | | | | ground with public parks above. The old stores are |
| share, yielding a 255% gain. During those five years the | | | | either being renovated or torn down and replaced with |
| Mexican peso has held firm at about 10.8 pesos per | | | | beautiful new buildings. |
| US dollar. | | | | Because there is such opportunity available in Vallarta, |
| When we moved to PV ten years ago, women sitting | | | | the level of education is constantly improving at the |
| on sidewalks nursing their babies, hand out, and cup in | | | | new University of Guadalajara campus which provides |
| front were commonplace. The few cars and old | | | | the ideal setting for thousands of young Vallartenses |
| buses were often dragging or missing their mufflers, | | | | to receive advanced educations. The booming |
| were often dinged and dented beyond recognition, and | | | | economy has attracted some of the finest doctors |
| always such a variety of colors that it was virtually | | | | and dentists in Mexico, many educated in the States or |
| impossible to ascertain their original color. The streets | | | | Europe. With the increase in talented doctors and |
| and sidewalks were filthy and need of repair and | | | | dentists, two large medical centers housing |
| stores looked like what one would expect in a sleepy | | | | sophisticated state-of-the-art equipment have been |
| little Mexican fishing village. Unemployment was high | | | | built in the past five years. |
| and help readily available for $10 per day. None of the | | | | Fine restaurants abound in PV, all having clean and |
| streets had signs or centerlines, making driving your | | | | modern kitchens, providing employment for thousands |
| basic free-for-all. Ten years ago, prices in the stores | | | | of workers as do the many modern hotels. New high |
| and restaurants were relatively low because labor | | | | rise condos and those currently under construction are |
| was cheap, they had only locally produced products, | | | | seen everywhere providing great employment for |
| and very few had air-conditioning. Even in Vallarta, | | | | thousands of construction workers. |
| there was some degree of poverty, yet one could | | | | In the evenings during “high season”, November |
| survive due to the low standard and related cost of | | | | through May, when everyone is out dining or partying, |
| living. | | | | the streets almost resemble New York with the yellow |
| Things have changed drastically in PV during the past | | | | taxis everywhere. In fact, the Malecon, or walkway |
| ten years. The Mexican economy is booming and | | | | along the beach, has more people visiting the sites and |
| it’s especially true in Vallarta as a result of tourism. | | | | shopping at midnight than it does at noon. |
| There is virtually full employment with the majority of | | | | The sleepy little Mexican fishing village is no longer |
| the younger Mexicans speaking some degree of | | | | sleepy nor little, with a population now exceeding |
| English since income is approximately three times as | | | | 350,000 residents. During the “high season”, PV |
| much if one speaks and understands English. | | | | rocks for about 18 hours a day. One must wonder |
| Ten years ago, we had a cruise ship visit PV every | | | | whether those sidewalk women ever got jobs or |
| other day whereas now, with the new maritime | | | | moved to Los Angeles. There is certainly no poverty |
| terminal, we have two or three cruise ships here daily. | | | | to be seen in Vallarta today! |
| The International Airport is roughly four times the size it | | | | |