The analysis of domestic tourism expenditure on cultural services in Mexico showcases significant fluctuations over the years. The value stood at 8.31 billion Mexican Pesos in 2023, marking a 2.19% decline from the previous year. Post-2013, a declining trend persisted until 2017, registering a notable dip in expenditure. A recovery phase began in 2018 but faced minor declines onward. 2020 saw a significant spike, attributed to pandemic-related anomalies.
Over the last two years (2022-2023), the expenditure has contracted by 2.17%. The last five years exhibited an average yearly variation (CAGR) of 8.04%, indicating potential for growth despite fluctuations. The forecast suggests a gradual decrease with a 1.83% annual drop from 2024 to 2028, resulting in an 8.83% overall decline by 2028.
Future trends to watch for include evolving consumer preferences towards cultural tourism, policy changes promoting domestic travel, and potential economic disruptions impacting discretionary spending.
