The internal tourism expenditure on cultural services in Mexico has seen various fluctuations over the years. It stood at 27.71 Billion Mexican Pesos in 2023. Between 2013 and 2023, there were notable variations, with 2015 showing a 7.46% increase and 2020 experiencing a significant 33.09% decline due to external factors likely influenced by the global pandemic. The sector rebounded with 26.03% growth in 2021 and continued to grow steadily up to 2023 by 9.56%. The CAGR over the last five years leading up to 2023 was 2.32%, indicating moderate and stable growth.
Future trends to watch for include:
- Continued recovery and post-pandemic growth stabilization
- Potential impacts of economic and governmental policies
- The influence of digital and immersive cultural experiences on tourist spending
The forecasted CAGR for the next five years is 1.65%, projecting a growth rate of 8.52% cumulatively by 2028.
