The household expenditure on package holidays in Mexico shows a fluctuating trend from 2013 to 2023. After a period of consistent growth that peaked in 2019, the expenditure drastically dropped in 2020 due to the pandemic, triggering a significant year-on-year decline of -55.63%. Post-pandemic recovery phases showed a positive but slow growth trend, culminating in a 2023 value of 30.2 Billion Mexican Pesos, marking a slight year-on-year increase of 3.69%. The 5-year CAGR leading up to 2023 was a negative -9.24%, demonstrating the substantial setback caused by the pandemic.
Looking forward, the forecasted figures indicate a moderate recovery, with a 5-year CAGR of 2.56% from 2024 to 2028. Future trends to watch for include:
• The impact of economic recovery on disposable incomes and consumer confidence.
• The influence of global travel trends and potential new disruptions such as pandemics or geopolitical events.
• Shifts in consumer preferences towards more flexible or less traditional holiday packages.
• The role of government and industry initiatives in promoting domestic tourism and package holiday deals.
