"The main action, however, is in Cancun and the adjacent Mayan Riviera, in the state of Quintana Roo, one of Mexico's fastest growing regions.

"The stock price is up more than 500% in the last five years, as the area has experienced an explosion of foreign and domestic travelers, some enticed by the low fares of discount carriers.

"The shares, at 36 times earnings, are not cheap. And the investment is not without risk, especially in this age of unpredictable weather. Investors saw much of their profits wash away when Hurricane Wilma pounded Cancun and the Yucatan Peninsula in October 2005, destroying much of the tourist infrastructure. It took a full year before the region -- and the stock price -- recovered.

"The beaches, hotels, and airports are all back to normal, with growing waves of visitors. And the stock price is 50% higher than before Wilma struck. ASUR saw double-digit growth in 2007, and it predicts more of the same for the coming year. ASUR Chairman Fernando Chico Pardo is so optimistic, that he already tried to take the company private once.

"Prospects for even faster growth are in the horizon, as the government discusses building another Riviera Maya airport, and ASUR stands first in line with its bid to build and operate it, while considering building a light rail system to connect Cancun and the booming Playa del Carmen. I am a fan of both the beaches and the stock, so I'm getting my hands on both."