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Mexico announces creation of new tourist resort
Mexico is getting another beach resort on its Pacific coast.
President Felipe Calderon says the resort will boast 7 miles (12 kilometers) of beach, a marina, golf courses, hotels and condominiums.
Calderon says it will create 78,000 jobs, attract 3 million tourists a year and generate $2.8 billion annually.
Calderon calls the development in Escuinapa, Sinaloa, southeast of Mazatlan, the most important tourism project in 25 years.
The president said Monday that the government will provide about US$500 million to build the resort. Private investment is expected to come up with nearly US$7 billion.
Mexico's economy relies heavily on tourism. The country draws millions of visitors each year to beach resorts like Cancun and Puerto Vallarta.
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