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Spain beats Canada in tourism investment

Spanish investment reaches $81 million, dubbed the ‘reconquest’

Spain has overtaken Canada as the second-biggest investor in Mexico’s tourist industry for the first time in 11 years in what one industry representative dubbed the “reconquest.”

Spanish firms made direct investments totaling US $81 million last year, compared to Canada’s $77 million, according to figures compiled by the Economy Secretariat.

The last time Spain invested more than Canada was in 2005 when its capital expenditures reached $147 million.

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