The domestic tourism expenditure on road passenger transport services in Mexico showed varied trends from 2013 to 2023. After fluctuating modestly between 2013 and 2019, the market faced a dramatic decline in 2020 due to the COVID-19 pandemic, with a significant year-on-year drop of 39.5%. However, the market rebounded strongly in 2021 with a 35.99% increase and continued to recover through 2022 and 2023, standing at 518.6 billion Mexican Pesos in 2023 with an 11.92% year-on-year growth. The Compound Annual Growth Rate (CAGR) over the last five years reached 2.37%.
Looking forward from 2024 to 2028, the market is expected to grow steadily with a forecasted 5-year CAGR of 2.15%, achieving an overall forecasted growth rate of 11.22% by 2028. Key future trends to watch for include the rapid adoption of sustainable transport options, technological advancements in vehicle efficiency, and evolving consumer preferences toward eco-friendly travel alternatives.
