Mexico earmarks less tourism funds

Dwindling funds for Mexico’s travel industry in 2004 will throw a monkey wrench into future agreements for the country, let alone make a dent in job creation, warned Miguel Torruco Masques, chairman of the Mexican Hotels and Motels Association.

According to Mr. Torruco, the federal budget for this fiscal year will be 18 percent shy of the funds passed in 2003. This time around, local tourist authorities will only count on $110 million for the entire twelve-month period.