Between 2013 and 2019, domestic tourism expenditure on passenger transport services in Mexico saw a steady upward trend, with notable annual increases ranging from 6.52% to 12.34%. The trend sharply reversed in 2020 with a significant drop of -44.3% due to the COVID-19 pandemic. The market rapidly recovered in 2021 with an increase of 48.53%, and continued its upward trajectory in 2022 with a 24.75% rise, reaching 759.47 billion Mexican Pesos in 2023, which marked a notable 16.41% year-on-year increase.
From 2024 onwards, the forecasted data indicates continued growth, reaching 1131 billion Mexican Pesos by 2028, with a forecasted 5-year CAGR of 3.89% and a 5-year growth rate of 21.03%. This suggests a steady recovery and stabilization post-pandemic.
Future trends to watch for:
- Potential impacts of economic policies and tourism initiatives by the Mexican government.
- Changes in global travel behavior and tourism trends post-COVID-19.
- Technological advancements in passenger transport services.
- Environmental and sustainability considerations impacting transportation choices.
