From 2013 to 2023, the value added of travel services in Mexico experienced a steady increase from 10.12 to 17.9 billion Mexican Pesos. Notable year-on-year variations were observed in 2016 (13.37%) and 2017 (9.69%) with an overall positive trend. However, from 2019 onwards, the growth rate slowed down, averaging a CAGR of 3.34% over the last five years up to 2023. The forecast data from 2024 to 2028 suggests a gradual increase, with a forecasted 5-year CAGR of 2.19% leading to a value of 20.56 billion Mexican Pesos in 2028, indicating a more moderate growth phase compared to the previous decade.
Future trends to watch for:
- Technology Integration: Adoption of AI and personalized travel services.
- Sustainability Focus: Increasing emphasis on eco-friendly travel options.
- Post-Pandemic Recovery: Continued rebound and stabilization post-COVID-19.
- Targeted Marketing: Growth in niche travel markets and targeted marketing campaigns.
