• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

2

Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock

3

The Pentagon said Iran War costs $29 billion,but the real cost is closer to $200 billion—and counting

1

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

2

Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock

3

The Pentagon said Iran War costs $29 billion,but the real cost is closer to $200 billion—and counting
FinanceMexico

Mexico’s Maya Train could cost $30bn and so far draws only 5% of the passengers expected: ‘The uselessness of this project was foreseeable’

By
Mark Stevenson
Mark Stevenson
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Mark Stevenson
Mark Stevenson
and
The Associated Press
The Associated Press
Down Arrow Button Icon
July 16, 2024, 5:24 AM ET
View of the future main station of the Mayan train, on Dec. 6, 2023, in Cancun, Mexico.
View of the future main station of the Mayan train, on Dec. 6, 2023, in Cancun, Mexico.Andrea Sosa—picture alliance/Getty Images
Add Fortune on Google for similar content.

The pet rail project of President Andrés Manuel López Obrador could wind up costing as much as $30 billion, is only half finished as he heads into the final 2 1/2 months of his term, and has wreaked major damage on the environment.

Recommended Video

But the most damning judgments on the Maya Train tourist line, which runs in a loop around the Yucatan Peninsula, are the ridership figures on about half the railway that is now open: only about 1,200 people per day use the train, according to government figures released Monday.

Most ride it only on short stretches between the city of Merida and Cancun, or the nearby city of Campeche. The big hope for paying the train’s massive cost was that tourists would use it to depart from the resort of Cancun and explore the whole 950-mile (1,500-kilometer) route to visit the Mayan archaeological sites that dot the peninsula.

But a round-trip route from Cancun to the well-known Mayan temple complex of Palenque has drawn only about 100 passengers per day each way in the first six months of operation. That is a volume that a bus or two per day could handle far more cheaply.

The government had originally promised the train would carry between 22,000 and 37,000 people per day. Current ridership is about 3-5% of that, with three of the four most popular stations — Cancun, Merida, Palenque and Campeche — already in service.

Admittedly, the rail line down the heavily traveled corridor linking Cancun and the resorts of Playa del Carmen and Tulum — an area known as the Riviera Maya — isn’t finished yet, and only 17 trains are operating; three times as many may eventually be added.

But critics say there is little evidence the Cancun-Tulum line will make the project profitable, because it doesn’t run particularly near any of the resort towns it is supposed to serve.

The Cancun-Tulum railway was originally supposed to run on an elevated line over the coastal highway, where most hotels are. But facing technical difficulties, the government changed the route by cutting a 68-mile (110-kilometer) swath through the jungle and moving the tracks about 4½ miles (7 kilometers) inland.

So instead of hopping one of the micro-buses that run constantly down the coastal highway, tourists or resort workers would have to take a taxi to the train station, wait for one of the few daily trains, and then take another taxi to the resorts once they reach their destination.

“The uselessness of this project was foreseeable,” said Jose “Pepe” Urbina, a local diver who opposes the train because its steel pilings have damaged the caverns he has explored for decades. “In reality, the train doesn’t go anywhere you couldn’t get to by highway before.”

“These are rail lines that don’t provide any useful service for workers, for students, for any daily use,” Urbina said.

One thing the railway project did create was jobs: Manuel Merino, the governor of the Gulf coast state of Tabasco, said the Maya Train had created 20,000 direct or indirect jobs in his state and lowered the unemployment rate by 40%.

“This makes it truly a motor for developing the south,” a historically poorer and undeveloped part of Mexico, Merino said. But most of those jobs will be gone once construction is finished, and federal officials are also casting around for ways to try to make the railway pay for itself.

Officials have suggested freight trains may run on the tracks as well, but there is little industry in the region, and thus freight demand is limited.

It’s not clear whether the government ever thought the railway would be profitable. López Obrador had already decided to build it before feasibility studies were carried out. According to a 2019 government study, the railway was going to cost $8.5 billion, and the estimated benefits would be about $10.5 billion.

But those “estimated benefits” always included a lot of intangibles, like reduced traffic on highways, quicker travel or increased tourism revenues, all of which either didn’t happen or were unrelated to the train.

Moody’s Analytics Director Alfredo Coutiño noted that cost overruns are common on such projects.

“As was expected, the Maya Train project was not finished as planned and the cost was much higher than the original budget,” Coutiño wrote.

“The question that still must be resolved is if this project will be profitable in the medium term when it is expected to be fully functional, operating at full capacity and managed as a government concern and not as a private enterprise.”

About the Authors
By Mark Stevenson
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

Top CD rates from major banks June 24, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
Personal FinanceCertificates of Deposit (CDs)
Top CD rates from major banks on June 24, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
By Joseph HostetlerJune 24, 2026
32 minutes ago
Current price of gold as of June 24, 2026
Personal Financegold prices
Current price of gold as of June 24, 2026
By Danny BakstJune 24, 2026
34 minutes ago
Current price of Ethereum for June 24, 2026
Personal FinanceEthereum
Current price of Ethereum for June 24, 2026
By Joseph HostetlerJune 24, 2026
36 minutes ago
Current price of Bitcoin for June 24, 2026
Personal FinanceCryptocurrency
Current price of Bitcoin for June 24, 2026
By Joseph HostetlerJune 24, 2026
36 minutes ago
Taktile cofounders Maik Taro Wehmeyer (left) and Maximilian Eber (right) stand side by side, smiling at the camera.
Startups & VentureVenture Capital
Exclusive: Taktile raises $110 million from Goldman Sachs, Tiger Global to automate high-stakes financial decisions 
By Camila Grigera NaónJune 24, 2026
40 minutes ago
price-of-oil-06-23-2026
Personal FinanceOil
Current price of oil as of June 24, 2026
By Joseph HostetlerJune 24, 2026
52 minutes ago

Most Popular

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
Success
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
By Orianna Rosa RoyleJune 23, 2026
1 day ago
Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock
Banking
Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock
By Jim EdwardsJune 23, 2026
1 day ago
The Pentagon said Iran War costs $29 billion,but the real cost is closer to $200 billion—and counting
Economy
The Pentagon said Iran War costs $29 billion,but the real cost is closer to $200 billion—and counting
By Jacqueline MunisJune 24, 2026
7 hours ago
Current price of oil as of June 23, 2026
Personal Finance
Current price of oil as of June 23, 2026
By Joseph HostetlerJune 23, 2026
1 day ago
Texas and Charlotte used to build huge McMansions—now they're copying the California design tricks they once mocked
Real Estate
Texas and Charlotte used to build huge McMansions—now they're copying the California design tricks they once mocked
By Sydney LakeJune 22, 2026
2 days ago
Current price of gold as of June 23, 2026
Personal Finance
Current price of gold as of June 23, 2026
By Danny BakstJune 23, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.