specially roadways and an airport and the area was declared a free zone, meaning foreigners could visit the area without a visa. One of the first condo/hotel complexes to be built was Plaza Las Glorias in the early 1990s. More condos and hotels, as well as restaurants, supermarkets and bars began to appear. The last major development has been the Mayan Palace, a condominium, hotel and golf course complex. There was some economic instability in 1994 and 1995, but it did not derail development here for long, coming back by 1999. Between 2002 and 2007 economic growth was at twelve percent. The local real estate market started to go bust in 2007 due to the economic slowdown in the United States. 99% of condominium buyers were from the U.S. and many condo owners were trying to resell. The government is still negotiating with companies such as Marriott and Carnival Cruise Lines to build facilities here.
The airport has started receiving planes from the Los Angeles International Airport and the new highway shortens the drive from California by 100 milesAfter fishing, tourism is the most important economic activity for the city. Development to date includes seventy restaurants, forty two hotels and motels and fourteen RV facilities
