Forecast: Internal Tourism Expenditure on Food and Beverage Serving Services in Mexico

Between 2013 and 2023, internal tourism expenditure on food and beverage serving services in Mexico generally trended upwards, growing from 410.68 billion Mexican Pesos in 2013 to 705.27 billion in 2023. The highest growth rate occurred in 2021 with a year-on-year increase of 21.58%, rebounding from a significant decline of -24.53% in 2020 due to the pandemic. In 2023, the expenditure grew by 9.50% year-on-year, standing at 705.27 billion Pesos. The compound annual growth rate (CAGR) over the last five years was 4.08%.

Future trends suggest moderate growth with a five-year forecast CAGR of 2.79%, leading to a projected expenditure of 840.96 billion Pesos by 2028. This indicates a total growth of 14.74% from 2023 to 2028, reflecting sustained and stable demand.

Trends to watch for in the future include:

• Recovery and growth post-pandemic driven by increased domestic tourism.
• Impact of inflation on food and beverage costs.
• Shifts in consumer preferences towards healthier and sustainable dining options.
• Technological advancements in the food and beverage service industry.