Word: cancun
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Dates: during 1977-1977
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Mexico depends on tourism and border transactions for 37% of its dollar income and on the U.S. to provide 90% of the visitors to such established resorts as Acapulco and Mazatlan as well as the new playgrounds at Cancun on the Caribbean and Ixtapa on the Pacific. The devalued and floating peso has reduced the price of a Mexican vacation by at least one-third, but the laggard tourist trade has not picked up as expected. For a decade before 1975, tourism had been rising at the rate of 14% a year until it reached $1.2 billion...