Hidalgo County exceeding sales tax revenue for 2018
Hidalgo county has exceeded expectations in sales tax revenue so far, this year.
Business owners in McAllen saw their sales double during this Thanksgiving weekend compared to last.
Ruth Santos, with Raquel’s Perfume in downtown McAllen, says their sales last Thanksgiving weekend peaked at $800. This year they sold over $5,000.
Santos says she sees a good mix of both Mexican tourists and Valley residents.
"Year to date we are over eight percent growth compared to last year,” said Luis Cantu, Vice President of the McAllen Chamber of Commerce.
Cantu says people from both sides of the border are spending their money. He adds that the reason why sales are increasing in the Valley, especially in Hidalgo County, is because they have seen many good trends on the Mexican side which has fueled the revenue.
"The tourism that comes to Mexico, is more confident about traveling to McAllenbefore, there were some safety concerns," says Cantu.
Despite the devaluation of the Mexican peso due to the new administration, Cantu says people are continuing to shop.
“If an article of a TV or clothing is 50-60 percent cheaper than they are going to find in Monterrey or in other cities, the 10-15 percent drop in the peso is not significant in terms of making a decision not to come here.”
According to Cantu, not only has increased security on the other side of the border helped sales tax, but the Valley’s growth is also part of that number.
"We can’t forget about the big amount of people that comes from the Valley too. The Valley has been growing tremendously and that is helping a lot also," said Cantu.
Cantu adds that he expects this trend to continue into the new year.