Forecast: Production Volumes of Accommodation and Food Services in Mexico

Between 2013 and 2019, the production volumes of Accommodation and Food Services in Mexico exhibited moderate growth, with the exception of a slight dip in 2013. A significant downturn occurred in 2020 due to global disruptions, followed by a strong recovery in 2021. By 2023, the production volume stood at 739.31 billion Mexican Pesos, representing a modest recovery.

Recent trends show a steady increase with a year-on-year variation of approximately 1.33% in 2023. The 5-year CAGR up to 2023 is 1.38%, underscoring a stable yet modest growth rate.

Forecasted data from 2024 to 2028 project a continued growth trend, with a 5-year CAGR of 1.04% and a total growth rate of 5.33% over the period. The production volumes are expected to reach 789.9 billion Mexican Pesos by 2028.

Future trends to watch for include potential impacts of economic policies on tourism, technological advancements in service delivery, and shifts in consumer behavior patterns post-pandemic. Monitoring these factors will be crucial for understanding the dynamics of the accommodation and food services market in Mexico.