The internal tourism consumption of cultural services in Mexico stood at 27.71 Billion Mexican Pesos in 2023. Analysis of the year-on-year variation reveals a general upward trend, except for a pronounced dip of 33.09% in 2020 due to the COVID-19 pandemic. The recovery was marked by a significant increase of 26.03% in 2021, continuing with a robust growth of 14.56% in 2022 and 9.56% in 2023. The 5-year Compound Annual Growth Rate (CAGR) through 2023 is 2.32%.
Future trends suggest more moderated growth. From 2024 onwards, the forecasted data indicates a smaller year-on-year increase, with the 5-year CAGR through 2028 estimated at 1.65%, reflecting a forecasted 5-year growth rate of 8.52%. This aligns with the stabilizing post-pandemic recovery phase, transitioning to a steady growth period.
Future trends to watch for include:
- Potential recovery variations influenced by global economic conditions.
- Impacts of cultural service innovations and digital transformation.
- Government initiatives and funding in cultural tourism.
