Forecast: Domestic Tourism Expenditure on Accommodation Services for Visitors in Mexico

The domestic tourism expenditure on accommodation services in Mexico has shown a general upward trend from 2013 to 2023. It increased from 407.59 billion Mexican Pesos in 2013 to 640.34 billion Mexican Pesos in 2023. The compound annual growth rate (CAGR) over the past five years up to 2023 has been approximately 3.56%. Notably, the year 2020 saw a significant downturn (-13.81%) due to the COVID-19 pandemic, but there was a robust recovery in 2021 with a 12.54% increase.

Year-on-year variation from 2022 to 2023 was 6.74%, demonstrating a consistent recovery and growth of the domestic tourism sector post-pandemic. For the forecasted period from 2024 to 2028, the CAGR is predicted to be around 2.59%, with an overall growth rate of 13.64% over the five years.

Future trends to watch for include the potential impact of economic shifts, government policies on tourism, and evolving consumer behavior. Ensuring sustainable growth amidst possible global market volatilities and domestic economic policies will be crucial for the consistent rise of domestic tourism expenditure on accommodation services.