The travel agency and tour operator sector in Mexico saw steady growth from 2013 to 2019. The Gross Value Added (GVA) in this period grew annually, peaking at 31.47 billion Mexican Pesos in 2019. The sector was severely impacted by the COVID-19 pandemic, resulting in a drop to 13.75 billion Mexican Pesos in 2020. A gradual recovery ensued, with a 19.83% year-on-year increase in 2022 and a further 3.83% increase in 2023, reaching 19.19 billion Mexican Pesos.

Projections for the sector up to 2028 suggest a stable growth trend, with an average annual growth rate (CAGR) of 2.65%. By 2028, the sector is expected to reach 22.69 billion Mexican Pesos. Although the short-term recovery post-pandemic has shown positive momentum, the five-year forecast indicates moderated growth compared to the pre-pandemic period.

Future trends to watch for:

Continued impact of global health crises on travel behaviors.
Shifts in consumer preferences towards sustainable and eco-friendly travel options.
The role of digital transformation in enhancing customer experiences.
Impacts of economic volatility on discretionary spending on travel.