The Tourism Direct GDP in Mexico has shown fluctuations over the past decade. From 2013 to 2017, values oscillated between 8.02 and 8.18, reflecting minor variations year-on-year. However, 2018 saw a slight dip to 7.94, with a subsequent small recovery to 8 by 2019. The COVID-19 pandemic severely impacted tourism in 2020, causing a sharp decline to 6.32. Recovery began in 2021 with a significant jump to 7.16, continuing to 7.66 in 2022 and reaching 7.99 in 2023. However, the forecasted values from 2024 to 2028 indicate a stable yet very slightly declining trend, with values hovering around 7.96 to 7.98.
The year-on-year variation for 2021 and 2022 showed positive growth at 13.38% and 6.98%, respectively. However, the growth slowed down to 4.31% in 2023. The Compound Annual Growth Rate (CAGR) over the last 5 years stands at a modest 0.12%, indicating overall stability with occasional disruptions. The forecasted 5-year CAGR from 2024 to 2028 suggests a slight decline at -0.06%, predicting minimal growth in the near future.
Future trends to watch for include the potential impacts of emerging travel technologies, shifts in international travel policies, and ongoing global health concerns. Monitoring these factors will be crucial for anticipating changes in Mexico's Tourism Direct GDP.
