The household expenditure on leisure in Mexico has shown significant growth from 2013 to 2023, starting at 693.72 billion pesos in 2013 and reaching 1102.9 billion pesos in 2023. This period was characterized by notable year-on-year growth rates, particularly marked by a sharp recovery post-2020, evidenced by a -22.62% dip in 2020 due to the pandemic, followed by a strong resurgence with a 23.6% increase in 2022. The compound annual growth rate (CAGR) over the last five years was 2.58%.
In terms of the forecast for 2024 and beyond, the expected CAGR is 1.71% over the next five years, suggesting a steady but moderate growth trend. By 2028, household expenditure on leisure in Mexico is projected to reach 1228.6 billion pesos.
Future trends to watch for:
- The impact of economic policies on disposable income and leisure spending.
- Shifts in consumer behavior post-pandemic affecting leisure activities.
- Technological advancements and digital transformation in leisure services.
- Inflationary pressures and their effect on household spending power.
