Due to the importance of tourism to Mexico and given the need to effectively coordinate measures aimed at promoting its integral development, the Federal Government created, by a law passed December 29, 1973, and published in the Federal Gazette January 28, 1974, the National Trust Fund for Tourism Development (FONATUR) as a public trust and part state-owned entity. Its resources were placed in trust with the bank Nacional Financiera, S.A. (today S.N.C.) through a contract signed March 29, 1974. Said contract was later completely amended in accordance with the terms of an agreement signed June 30, 2000. The Federal Tourism Law, published in the Federal Gazette December 31, 1992, and the Federal Law of Part State-Owned Entities, both still in effect, are the main legal ordinances that regulate FONATUR.
This new trust was established through the dissolution of two earlier trusts: the Fund for the Promotion of Tourism Infrastructure (INFRATUR), which was administered by the Bank of Mexico, and the Fund for the Guarantee and Promotion of Tourism (FOGATUR), administered by Nacional Financiera.
Last update: 2016/06/09