Prices in Cancun have been rising steeply across the board this year on the back of a strengthened peso, putting a dent in American travelers’ purchasing power and forcing many to cut spending while enjoying the sun-soaked destination.
Nightly rates across Mexican Caribbean resorts have risen by up to 11% compared to last year, and travelers are having to spend considerably more at their favorite restaurants this year.
With the Mexican peso expected to continue appreciating versus the dollar, here’s everything travelers can do to travel more affordably.
Here’s How Much Prices Are Increasing In Cancun
Many travelers flock to Cancun to enjoy its affordable yet world-class accommodations and affordable goods and services, but this year that situation has changed a bit.
With the Mexican peso reaching its highest value in more than 7 years, travelers are getting less bang for their buck. And while many goods and services can be purchased using dollars, those too are getting more expensive to reflect the evolving exchange rate.
As of July 3, one U.S. dollar was equivalent to around 17 Mexican pesos, whereas last year, the greenback was trading at 21 pesos. Consequently, travelers will have to pay more for resorts, excursions, as well as food and beverages.
Top 5 Travel Insurance Plans For 2023 Starting At $10 Per Week
Easily Earn Points For Free Travel
This month, the Quintana Roo Nautical Association said it is considering raising the price of boat tours as well as ferries by as much as 30%, in a move that could deter travelers from using the services. During the summer, companies across the Mexican Caribbean are expected to adjust prices accordingly.
Many travelers are confronting a double whammy, with structural inflation on the one hand and an unfavorable exchange rate on the other. Even so, travelers seem undeterred, with many resort hotspots reporting occupancy rates of up to 85%, including Cancun and Costa Mujeres.
@danielleisfullon Roughly 4 days in cancun… ON A BUDGET! #budgettravel #solotravel #blackgirlstravel #cancun #travelingmexico ♬ Musik Tiktok – Dj unodhowhow
Fortunately, analysts expect the U.S. dollar to reach a value of 19 to 20 pesos later on this year, although the current dynamic is forecast to continue throughout the summer.
Follow These Tips To Travel Affordably
Despite ongoing currency woes, U.S. travelers can still find great ways to save money on their next Cancun getaway.
Travelers can try to focus on saving as much as possible well before even landing in Cancun by finding online deals for flights and resorts.
With summer being one of the quietest times for travel in Cancun, airlines want to sell as many seats as possible, translating to cheaper airfare. Meanwhile, resorts too are known to launch special summer deals, with huge discounts on longer stays.
One of the best ways to save considerably is by staying in lesser-known destinations, which offer the same natural beauty as Cancun for far lower prices. Mahuahl, Bacalar, and Chetumal are just a few among many destinations with less demand and, consequently, cheaper rates.
When it comes to exploring Cancun and its wondrous surroundings, travelers should book their excursions in advance to lock in the current exchange rate, thus avoiding costlier fares later on.
And despite the cost of some attractions rising by as much as 30%, travelers can still find a plethora of affordable options for exploring Cancun’s stunning city life and history.
Another way travelers can save up considerably is by avoiding theme parks and attractions geared towards Americans, which charge prices similar to those back home.
Instead of paying the eye-watering prices of Xcaret or Xplor, head to some of Cancun’s most stunning Mayan sites, including El Meco or El Rey, with admission costing around $4 per person.
Plan Your Next Cancun Vacation:
Traveler Alert: Don’t Forget Travel Insurance For Your Next Trip!
Choose From Thousands of Cancun and Riviera Maya Hotels, Resorts and Hostels with Free Cancellation On Most Properties
↓ Join the community ↓
The Cancun Sun Community FB group has all the latest travel news, conversations and tourism Q&A’s for the Mexican Caribbean
Subscribe to our Latest Posts
Enter your email address to subscribe to The Cancun Sun’s latest breaking news affecting travelers, straight to your inbox.