The employment in travel services in Mexico has experienced moderate fluctuations from 2013 to 2023, standing at 20.95 thousand jobs in 2023. Over the last two years, the year-on-year variation was relatively stable at around 0.61% to 0.63%. Over the last five years, the Compound Annual Growth Rate (CAGR) was 1.15%. The years between 2013 and 2019 saw a general upward trend, apart from a notable dip in 2018 where employment fell by 6.68%. Stabilization occurred post-2019 with slight annual increases, despite the COVID-19 pandemic impact. Forecasts indicate continued modest growth with a 5-year forecast CAGR of 0.45%, predicting the employment value to reach around 21.55 thousand jobs by 2028, reflecting a 2.26% growth rate from 2024 to 2028.
Future trends to watch for:
- Recovery and growth post-pandemic, influenced by renewed travel demand.
- Impact of digitalization and automation in travel services.
- Global economic conditions affecting travel budgets and employment rates.
