What is the size of the local travel agency industry?
The Americas Tourism
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Interviews & Viewpoints | José Luis Castro, CEO, CTS (Corporate Travel Services): Interview from The Report: Mexico 2015
Articles & Analysis | After a piece of the pie: States eye economic benefits of expanding the MICE segment from The Report: Mexico 2015
With Mexico regaining its spot among the world’s top 10 tourist destinations in 2014, it is no surprise that the meetings, incentives, conferences and exhibitions (MICE) segment is becoming increasingly dynamic. Recognising the segment’s importance, particularly for states that have traditionally been primarily sun and sand destinations, state...
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...
Two straight years of record growth in Mexico’s tourism sector have solidified its importance as a motor for economic growth. Tourism contributes over 8.7% to Mexico’s GDP, employs 3.6m people directly and is the fourth most important source of foreign currency. The sector exceeded growth expectations for 2014, registering a record number of international tourist arrivals, at nearly 29.3m, and...
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. The country is expected to maintain a solid economic performance in 2015 and beyond, with the IMF estimating GDP growth of 3% and 3.3% in 2015 and 2016, respectively.
Though tourism plays a significant role in T&T’s economy, unlike other Caribbean economies, it is not the most important sector. Its total contribution to GDP in 2013 was $1.26bn, or 3.1%, and the industry directly and indirectly employed 27,500 people, or 4.5%. In the past decade, arrivals have fluctuated between a low of 388,000 in 2010, reflecting the global slump in 2008-09, and a high...