Receiving more than 35m international visitors in 2016 – 2.8m more than in 2015 – Mexico continues to move up the world tourism league table. The country’s ranking in terms of arrivals in global tourism destinations improved from 10th to ninth position in 2016, according to the UN World Tourism Organisation. A weak peso has boosted margins for operators and attracted more visitors while at the...
Mexico Tourism
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At a time when a number of major Latin American economies, including Brazil and Venezuela, are heading toward recession, Mexico’s economy stands out in the region for its resilience. Projections for 2017 are couched in more uncertainty than is usual, however, in light of the lack of clarity over and the potential impact of policy changes in the US during the first year in office for US President Donald Trump.
While Mexico’s tourism industry posted significant growth last year, the sector must refocus its efforts on improving awareness of and access to peripheral tourist markets to fuel further expansion. According to the UN World Tourism Organisation, the sector recorded 32.1m international tourist arrivals last year, while the World Travel & Tourism Council (WTTC) reported that tourism directly accounted for 7% of the country’s GDP, with this increasing to 15.1% upon taking indirect contributions into account.
Interviews & Viewpoints | José Luis Castro, CEO, CTS (Corporate Travel Services): Interview from The Report: Mexico 2015
Articles & Analysis | Mexico plans for long-term tourism growth from The Report: Mexico 2015
Two straight years of record growth in Mexico’s tourism sector have solidified its importance as a motor for economic growth. According to the Ministry of Tourism (Secretaría de Turismo, SECTUR), tourism contributes over 8.7% to Mexico’s GDP and employs 3.6m people directly, 57% of them women. It is also the fourth most important source of...
Articles & Analysis | Changing landscape: Introduction of public investment vehicles helping to shape hotel market dynamics from The Report: Mexico 2015
The Mexican hotel industry has been in recovery mode since 2009, after feeling the effects of the economic downturn from the 2008 financial crisis and the breakout of the H1N1 virus in 2009. According to consultancy firm Jones Lang LaSalle (JLL), the industry posted average annual growth of 4.7% on occupancy rates and average daily rates in...