Mexico's international tourism receipts for travel items were valued at $29.548 billion USD in 2023. After a significant dip in 2020 caused by the COVID-19 pandemic, the sector recovered strongly with year-on-year growth of 72.26% in 2021 and 30.87% in 2022. For the last two years, the sector continued to show robust growth (30.87% in 2022 and 19.2% in 2023). Over the past 5 years, the Compound Annual Growth Rate (CAGR) averaged 5.58%.
Projected future trends from 2024 to 2028 anticipate a steady growth. The forecasted CAGR for the next five years is 3.85%, culminating in a forecasted value of $37.697 billion USD by 2028. This suggests stable growth but at a more moderate pace compared to the past few years of recovery.
Future trends to watch for:
- Changes in international travel regulations and restrictions.
- Impact of global economic conditions on tourism.
- Introduction of new tourism initiatives and infrastructure improvements in Mexico.
- Effects of environmental sustainability practices on tourism growth.
