The Travel Agency and Tour Operator output in Mexico peaked steadily from 2013 to 2019, culminating at 45.59 billion pesos. The sector faced a sharp decline in 2020, plummeting to 19.97 billion pesos, reflecting a year-on-year drop of 56.2%. Recovery began in 2021 with a 14.69% increase, continuing into 2022 and 2023 with growth rates of 19.41% and 3.72%, respectively. The output was 28.36 billion pesos in 2023. Forecasts predict gradual growth, reaching 33.38 billion pesos by 2028, with a 5-year CAGR of 2.58%.
Future trends to watch for:
-Increasing international travel interest post-pandemic.
-Technological innovations in tour operations enhancing customer experiences.
-Sustainability and eco-friendly travel influencing market dynamics.