The Gross Value Added (GVA) in Mexico's recreational activities sector experienced varying trends over the past decade. The GVA grew steadily from 2013 to 2019, with annual growth rates ranging between 3.64% and 7.67%. However, 2020 saw a significant decline of 41.07%, reflecting the impact of the COVID-19 pandemic. The sector rebounded strongly in 2021 and 2022 with growth rates of 30.75% and 41.4%, respectively. Despite a decrease of 10.52% in 2023, the projected values for the years 2024 through 2028 suggest a gradual recovery with a forecasted 5-year CAGR of 1.89%.
Future trends to watch for include:
- The potential for digital transformation and innovation in recreational services continues to drive growth.
- Increasing domestic tourism and consumer spending could further bolster the sector.
- Considering sustainability practices and eco-friendly initiatives could significantly impact long-term growth.