Internal tourism expenditure on transport equipment rental services in Mexico has evidenced a consistent upward trend from 2013 to 2023. In 2023, the expenditure stood at 15.5 billion Mexican Pesos. Year-on-year variations reflect significant growth, notably a surge of 10.97% in 2023. The period between 2018 and 2023 saw a compounded annual growth rate (CAGR) of 6.67%, recovering from the pandemic-induced dip in 2020, which showed a dramatic value decrease of 17.84%. The expenditure rebounded strongly with 20.03% growth in 2021 and continued double-digit increments in the following years.
Looking ahead, forecasts indicate a sustained growth trajectory with an average annual growth rate (CAGR) of 4.39% from 2024 to 2028. This trend suggests continued robust demand within the internal tourism sector. By 2028, the expenditure is projected to reach 20.46 billion Mexican Pesos, marking a 23.98% increase over the five-year period.
Future trends to watch include the impacts of technological advancements in the rental services industry, such as digital platforms facilitating easier access and efficiency improvements, environmental regulations fostering demand for eco-friendly transport options, and shifting consumer preferences towards seamless, integrated travel experiences. Monitoring these factors will be essential in understanding the broader market dynamics in this sector.
