By the end of 2023, Mexico led Latin America in tourism's contribution to national GDP, accounting for 28.5% of the total, according to the World Travel and Tourism Council.
The aviation industry was the most affected in terms of INPT (National Tourism Price Index) increase in 2023. In 2024, flight prices in Mexico are still being impacted, with an average increase of 77% in air fares determined by Mexico City International Airport (AICM) and the annual adjustment to the Airport Use Fee (TUA).
The number of room nights in hotels recorded further growth in the first half of 2024, after already fully recovering to pre-pandemic levels the previous year. Lodging is set to record high annual growth over the forecast period, as Mexico is an emerging market.
In Mexico, online booking’s total value continues to grow, with potential to exceed offline value by the end of the forecast period. Driven by increasing mobile phone penetration, up to 82% of Mexicans perform their travel searches through mobile devices.
Nearshoring is expected to show continuous growth. Challenges in the Panama Canal and Red Sea are driving export companies to explore new options, including Mexico with the CIIT (Interoceanic Corridor of the Isthmus of Tehuantepec), which is a trade and transit route in southern Mexico.
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Understand the latest market trends and future growth opportunities for the Travel industry in Mexico with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
If you're in the Travel industry in Mexico, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Travel
Travel encompasses several categories including tourism flows, lodging, travel modes, in-destination spending and booking.
See All of Our DefinitionsThis report originates from Passport, our Travel research and analysis database.
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