Our region’s continuous urban growth has supported the proliferation of various commercial areas. Puerto Vallarta and Banderas Bay have an increasingly broad and socioeconomically diverse population, as well as a constant influx of tourists. These factors lead investors in diverse business sectors to view some of these residential and commercial areas as the perfect place to set up business.
When choosing a suitable location for a new establishment, influencing factors include accessibility, customer socioeconomic background and origin, vehicular and pedestrian traffic, proximity to residential areas, shops and offices, competition, potential, etc.
In this article, we explore three zones in the region that offer different areas of opportunity to investors and entrepreneurs.
Basilio Badillo, Tourism
In the heart of the Romantic Zone, traditionally the hub of tourism in Puerto Vallarta, Basilio Badillo Street is one of the most desirable locations for the boutique tourism industry, which is increasingly flourishing in the area. Starting at famous Los Muertos Beach and stretching for a half mile to the Libramiento, this street crosses one of the most attractive areas for foreign investors and those targeting tourists and foreign residents. And recent beautification projects and structural improvements have spurred the construction of new residential and office buildings that will bring even more commercial activity to the area.
Its marked cosmopolitan character (comparable to that of La Condesa in Mexico City, West Queen West in Toronto or the Echo Park area in Los Angeles), makes Basilio Badillo the perfect place to invest in real estate and businesses focused on pedestrian customers with medium-high purchasing power: open-air cafes and restaurants, art galleries and cultural spaces, fashion and craft boutiques, offices for resident and tourist services such as real estate or law firms, beauty and health clinics, as well as establishments serving specific niches such as the LGBT+ community, organic-vegan options and quasi-luxury products and services.
Highlights include: established tourist zone, high pedestrian flow, rising socioeconomic level, foreign clientele and new developments.
Avenida Fluvial Vallarta, Accessibility
In an unbeatable location, this mile-long avenue crosses two of Puerto Vallarta’s main arteries: Avenida Francisco Medina Ascencio to the west (in the middle of the hotel strip, with leisure facilities such as trendy restaurants and clubs, auto agencies and important shopping centers) and Avenida Francisco Villa to the east (which passes through several popular colonias and hosts small businesses such as mechanic shops and electronic and home services, among others).
In addition, Avenida Fluvial Vallarta is surrounded by two of the city’s best known residential subdivisions: Fluvial Vallarta, the source of the avenue’s name, whose residents have medium-high and high purchasing power; and Colonia Versalles, one of the most populated middle-class areas in Puerto Vallarta, with a great variety of SME businesses, small offices, clinics, beauty centers, restaurants and workshops.
This avenue benefits from the diversity of the surrounding population, its excellent accessibility to various areas of the city and the availability of spaces, as seen in its mixture of businesses, restaurants, clothing stores, phone service outlets and insurance agencies, as well as two of the destination’s most important shopping centers: Plaza Caracol and Costco.
Highlights include: suburban area, varied socio-economic levels (medium and medium-high), local clientele, accessibility, road connections and available spaces.
Boulevard Nuevo Vallarta, Various Targets
Popularly known as the second entrance to Nuevo Vallarta, this mile and a half-long avenue serves a function similar to that of Fluvial Vallarta, connecting Carretera 200 and Paseo de los Cocoteros, neighborhood’s main thoroughfare.
This corridor is home to several restaurants, convenience stores, event venues and educational centers (including Universidad Tecnológica de Bahía de Banderas). Both ends of the avenue are very heavily trafficked. At the west end, where it meets the highway, Plaza Parabien houses several restaurants and service shops. In addition, residential developments Costa Coral and Valle Dorado are near this entrance, as is a busy supermarket. At the other end of Boulevard Nuevo Vallarta are the Grand Velas and Marival resorts, as well as residential areas and the 3.14 Plaza, which holds renowned restaurants.
Between these two points, this avenue has great potential, as it is the route to enter Nuevo Vallarta from the highway and surrounding colonias. And depending on the location, businesses can serve different market segments: medium-high and high in the area of Nuevo Vallarta or medium-low and medium at the exit to the main road. Plus, several large lots are available, perfect for businesses that require ample space and parking, such as restaurants, pharmacies and small plazas.
Highlights include: accessibility, road connections, varied socio-economic levels (high and medium), local and foreign clientele and ample spaces available.