Puerto Vallarta Mexico

Puerto Vallarta’s economy lies heavily on the tourism business. It is ranked as the second most-visited resort in the whole of Mexico, catering to an average of 2.2 million visitors every year. As such, the local government puts great effort into the development of tourist attractions, as its the sector that garners a considerably large amount of tax.

The mode of currency used in Puerto Vallarta is the peso, although US Dollars are also widely accepted in most business establishments around the town. Major credit cards such as Visa, Mastercard, American Express, and HSBC are also widely accepted, while plenty of banks are available for currency exchages, operating on standard business hours from 9 am to 5 pm. ATM machines are also plentiful, most of which have connections to CIRRUS and PLUS systems, with instructions in both English and Spanish, and dispense pesos at the current exchange rate.

As far as taxes go, Puerto Vallera applies a 15% tax on all purchases (retail or wholesale), restaurant bills, store purchases, hotel accommodations and tourist excursions. As mentioned before, Puerto Vallarta gives much emphasis on its tourism trade, aiming for only the finest services for its tourists. Hotel stays often have an additional 2% tax to promote the chosen tourist destination. Other taxes include departure tax for those leaving via airport. The tax is at a constant $23 for everyone over the age of 2.

One of the basic services privatized by private companies is the telephone and communications industry. The company, TELMEX, monopolized the phone lines in an effort to pave a more modern telephone system for the whole of Mexico. International and long-distance telephone calls posed a big problem before 1997, after which it was deregulated by the government. To date, the telephone system is better, though it’s not as inexpensive as the rates in the U.S.A. and Canada.

Normal business hours for Puerto Vallarta is from 10 in the morning, to 8 in the evening, normally with a two-hour break from 2 -4 pm. Some public offices take on 9 – 5 office hours with no break, then close after 5.

Despite its rather prominent status, Puerto Vallarta isn’t an exclusively upscale community. There are plenty of people with middle-class tax brackets here, as well as a stunning variety of foreign residents. The average household income for Puerto Vallarta lingers around the $30,000 mark, which is about the average household income of a majority of communities in the U.S.A.