From 2013 to 2019, domestic tourism expenditure on air passenger transport services in Mexico showed a significant upward trend, peaking in 2019 with a year-on-year growth of 27.72%. However, this growth was interrupted in 2020 due to the global pandemic, causing a sharp decline of 54.75%. The market rebounded quickly in 2021 with an 83.35% increase, and by 2023 it stood at 369.47 billion Mexican Pesos, marking a remarkable recovery with a 26.48% year-on-year growth. The CAGR over the last five years leading up to 2023 was 13.5%.
Future trends to watch for include steady growth from 2024 onwards with a forecasted CAGR of 6.81% over the next five years, leading up to a 38.99% total increase by 2028. Factors to monitor include economic stability, travel regulations, and potential disruptive events, which all could significantly impact tourism expenditure.
