The hospitality employment sector in Mexico has shown steady growth from 182.83 thousand employees in 2013 to 210.63 thousand employees in 2023, with most years exhibiting positive year-on-year growth rates. Notably, the compound annual growth rate (CAGR) over the past five years leading up to 2023 stands at 1.14%. Despite some fluctuations, such as a slight decrease in 2017, the trend generally points toward a resilient and expanding workforce.
Going forward from 2024, the forecast indicates continued growth with employment numbers expected to reach 223.08 thousand by 2028. The estimated 5-year CAGR for this period is 0.91%, suggesting a more moderate yet stable increase. Factors such as economic conditions, tourism trends, and policies affecting the hospitality sector will play crucial roles in shaping these projections.
Future Trends to Watch For:
- Impact of technological advancements and automation in the hospitality industry.
- Changes in international travel regulations and their effect on tourism.
- Economic recovery and growth post-pandemic and its influence on employment.