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Source Market Insights : Mexico

  • March 2015
  • 19 pages
  • GlobalData
Report ID: 2836996

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Summary
Source Market Insights:Mexico provides an overview of the Mexican outbound market, analyzing market data and providing insights. This report provides a better understanding of the number of Mexican tourists going abroad, their spending habits, and the main destination markets

Key Findings
- Weak economic conditions and, consequently, lower gross household disposable income per capita led to a slowdown in outbound tourism in Mexico, registering annual growth of 2.1% and 1.8% in outbound trips, in 2013 and 2014 respectively

- Outbound travel in Mexico is largely driven by leisure and VFR purpose trips, which accounted for 44.7% and 43% of the total outbound trips, respectively, in 2014. The strong presence of VFR can be attributed to increasing numbers of Mexicans present in the US; in correlation with a targeted campaign to promote Mexican travel to the US by 'Brand USA'

- Average spending per outbound trip for Mexicans is very low compared to other Latin American countries such as Brazil. Average spending per outbound trip for Mexicans stood at US$797 in 2014, which was only one-quarter of Brazil's expenditure

- The US is the key outbound destination for Mexicans, accounting for 90.2% of total outbound trips in 2014. A key factor for this is the use of the Border Crossing Card, as well as close geographical proximity

- Spain is a preferred destination for higher education (after the US) for Mexican students. Higher aspirations coupled with safety concerns (rising crime rates) in Mexico encourage students to enroll in higher education programs abroad

Synopsis
The report provides detailed market analysis, information, and insights, including:

- Historic and forecast tourist volumes covering the entire Mexican outbound tourism sector

- Detailed analysis of the mode of transport preferred for outbound trips

- Detailed analysis of the market trends in the Mexican outbound tourism sector

Reasons To Buy
- Make strategic business decisions using historic and forecast market data related to the Mexican outbound tourism sector

- Understand the key market trends and growth opportunities in the Mexican outbound tourism sector, along with key trends and growth opportunities

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