Forecast: Domestic Tourism Expenditure on Tourism Characteristic Products in Mexico

Domestic tourism expenditure in Mexico showed a consistent upward trend from 2013 to 2019, peaking at 2.4739 trillion pesos. The sector was drastically affected by the COVID-19 pandemic in 2020, contracting by -24.7%. However, it rebounded substantially in 2021 with a 20.57% increase and continued to grow by 12.17% in 2022. As of 2023, tourism expenditure stood at 2.7371 trillion pesos, showing an 8.65% increase from the previous year. Projected growth for the next five years suggests a moderate average annual growth rate of 2.27%, reaching 3.1587 trillion pesos by 2028, indicating resilience and recovery in the sector.

Future trends to watch for include the potential impact of macroeconomic conditions, technological advancements in travel, and changing consumer preferences towards sustainable and experiential tourism. Monitoring these factors will be crucial for stakeholders aiming to capitalize on the projected steady growth in the domestic tourism sector.