The Total Tourism GDP in Mexico has experienced incremental growth from 2013 through 2023, with the value standing at 8.30 in 2023. This upward trend has been characterized by modest year-on-year variations and a compound annual growth rate (CAGR) showing a steady but slow increase. Notably, the year-on-year change for 2022 and 2023 was around 0.16%, while the CAGR for the last five years up to 2023 was 0.12%.
From 2024 onwards, the forecasted data suggests a continuation of this steady growth trend. The forecast CAGR for the next five years till 2028 is 0.11%, indicating that the tourism sector is expected to maintain its gradual upward trajectory.
Future trends to watch for:
- Considerable focus on sustainability and eco-tourism which may influence GDP growth positively.
- The impact of digital transformation in tourism services enhancing tourist experiences.
- Evolving travel preferences post-pandemic that could shift demand patterns.
- Potential macroeconomic factors and geopolitical developments influencing international travel.
