Forecast: Internal Tourism Expenditure on Country-Specific Tourism Characteristic Goods in Mexico

The Internal Tourism Expenditure on Country-Specific Tourism Characteristic Goods in Mexico displayed a robust growth trajectory from 2013 to 2023, with a notable dip in 2020 due to the COVID-19 pandemic. In 2023, expenditure reached 840.12 Billion Mexican Pesos. Year-on-year growth over the last two years indicated a healthy recovery and expansion, with 2022 recording a 12.71% increase and 2023 a 9.33% increase. The CAGR over the past five years stood at 2.51%, revealing steady annual growth despite temporary setbacks.

Future projections are optimistic, with anticipated expenditures rising steadily from 874.15 Billion Mexican Pesos in 2024 to 1006.9 Billion Mexican Pesos in 2028. The forecasted 5-year CAGR is 2.87%, amounting to a total growth rate of 15.19% over this period.

Future trends to watch for include the impact of macroeconomic factors on disposable income, changing preferences in tourism activities, the role of digitalization in tourism services, and potential external shocks. Monitoring these variables will be crucial for understanding and leveraging growth opportunities in Mexico’s tourism sector.