International tourism expenditures on travel items in Mexico witnessed a varied trend from 2013 to 2023. After peaking at $11.23 billion in 2018, expenditures declined in 2019 (-12.01%) and plummeted further in 2020 due to the pandemic (-64.83%). A significant rebound followed, with a notable increase in 2021 (98.72%) and a steady growth in 2022 (32.88%). By 2023, expenditures had increased by 18.41%, reaching $10.865 billion. The average annual variation (CAGR) from 2019 to 2023 was -0.66%.
Forecasts from 2024 onwards show a continuous upward trend with a 5-year CAGR of 2.13%, anticipating expenditures to reach $12.427 billion by 2028. Key trends to monitor include:
- The rate of recovery post-pandemic and potential impact of new global health policies.
- Growth in sustainable and eco-tourism influencing expenditure patterns.
- Technological advancements in travel facilitating higher expenditure rates.
