The data illustrates the historical and forecasted trends of Tourism Gross Value Added (GVA) in Mexico from 2013 to 2028. In 2023, the value was 8.57. Over the past decade, the GVA demonstrated a fluctuating pattern. Despite minor annual downturns in specific years, a significant decline of 20.68% in 2020 due to the global pandemic marks a notable disruption. Recovery steps are visible with a substantial rise in 2021 (13.6%) and continued moderate growth, reaching a 4.45% increase in 2023.
Projected data indicates a stable but slow growth rate with values plateauing around 8.58 to 8.61 between 2024 and 2028. The Compound Annual Growth Rate (CAGR) for the past five years reveals minor growth at an average rate of 0.37% annually, whereas future projections suggest a conservative CAGR of 0.09% over the next five years.
Future trends to watch for:
- Impacts of global economic fluctuations on tourism revenues
- Emerging tourism sectors and infrastructure developments in Mexico
- Potential for increased domestic tourism as a stabilizing factor
- Effects of international travel policies and health guidelines on visitor numbers
- Investments in digital and sustainable tourism practices influencing GVA growth
