The movie is a fun action-romance with comic elements. The pacing might seem slow at times for 2008. My wife and I saw it again with our daughter (age 16), and I enjoyed it, but not as much as the first time (24 years ago).
For the violence, swearing, drinking, pot smoke inhaling, and nudity, I'd give this one a PG-13.
First, there IS nudity, contrary to the main review--not frontal (or from the rear), but the leads lie in bed for quite a while, talking, man on top of woman and they are quite naked.
Second, in one long scene, there is drinking (lots of whiskey) and smoking marijuana (after a fashion), as the leads stay warm by burning bricks of cannabis. They are clearly affected.
Third, as others have noted, the chief bad guy's hand gets chomped off by the crocodile and you see the bloody stump for a while. He's clearly in pain. Later he falls into a pit full of crocodiles (his fate is implied).
A snake gets decapitated (graphic) and a croc is turned into boots (you don't see the process).
In terms of stereotypes, the chief bad guy (competent and cruel) is Latino, but other (more bumbling) bad guys are Anglo, and one very helpful and likable character is Latino. There is a fair amount of Third World local color that can be seen as demeaning (people fight in airports, carry pigs on buses, etc.) and other local color that is neutral or positive, including a colorful festival & dance, The most fleshed out characters are the Anglo leads, and they are attractive but humanized and flawed.