The far East of the Peninsula of Yucatán, to the South of the Mexican Republic is surrounded by the Caribbean sea and is known as the Mayan Coast, given this pre-Hispanic civilizations influence all across the area, from Punta Brava to Punta Allen. The north side of the coast boasts an amazing tourist infrastructure and impressive development. The south, on the other hand, is home to many different small picturesque villages surrounded by unspoilt beaches, where the Gran Arrecife Maya is to be found, the second largest reef in the world. The south is famous for its forest, with exotic vegetation and great variety of animal species. It is also famous for its underground rivers, caves and deep-sea caverns. In 1967 the Mexican Government recognized the importance of the tourist industry as an active ingredient of the country's economy, and Cancun was one of the places to become a firm candidate for foreign investment and the development of a hotel and entertainment infrastructure, given that its natural beauty was an obvious temptation for any traveller. The first hotels that were built in the 70s were the Palacio Maya and Club Med, both of which developed a great reputation.