Mexico’s tourism sector is proving to be the powerhouse of the country’s economy, according to a recent study by Anahuac University. The study found that the tourism industry’s trade balance is outperforming many of Mexico’s other business sectors. This is supported by recent figures from the National Institute of Statistics and Geography (INEGI), which reported that tourism revenue had its best February since 2019, reaching US $2.587 billion. This represents a 22.3% increase from 2022.
The INEGI’s International Traveler Surveys also reveal that 5.7 million travelers arrived in Mexico in February, with 3 million being international tourists. On average, each traveler spent US $450.37 in the country. Recreational, family, work, and cultural purposes contributed to 89% of the total income, with the remaining 11% made up of travelers in transit and tourists who stayed near the northern and southern borders.
What is most impressive is that the tourism industry had a surplus of US $20.9 billion in 2022, according to the Tourism Research and Competitiveness Center (Cicotur) at Anáhuac University. This represents a 43.3% increase from the previous year and is the highest figure on record. Francisco Madrid, Cicotur’s head, remarked that it is striking how the tourism sector continues to deliver excellent results for the Mexican economy, despite the pandemic’s challenges.
When compared to other sectors, the figures are even more impressive. In 2022, Mexico recorded a foreign trade deficit of US $26.4 billion, while the oil industry registered a negative trade balance of US $34.9 billion. The manufacturing industry also reported a surplus, but the tourism industry’s performance is seven times higher, reinforcing its importance to the country’s economy.
Increase in Employment Through Tourism
Cicotur’s study also revealed that the tourism sector has 2.2 million jobs registered with the Mexican Institute of Social Security (IMSS). This represents a 1.1% growth compared to pre-pandemic levels, highlighting the sector’s resilience and importance in providing employment opportunities for the country’s citizens.
Mexico’s tourism industry is clearly thriving, despite the pandemic’s impact on global travel. This success can be attributed to the industry’s ability to adapt and innovate, as well as the country’s natural beauty, rich culture, and welcoming people.
Tourists are drawn to Mexico’s world-renowned beaches, such as those in Cabo San Lucas, Baja California Sur. The country also boasts stunning landscapes, such as the Copper Canyon, and ancient ruins, such as those at Chichen Itza. Mexico’s vibrant culture, which includes colorful festivals, delicious cuisine, and a rich history, also attracts visitors from around the world.
Role Of Mexico’s Government & Tourism Industry
However, it is not just the country’s natural beauty and culture that is responsible for its tourism success. Mexico’s government and tourism industry have also played a vital role. The government has implemented policies to encourage tourism, such as the elimination of the tourism tax and the reduction of the VAT on tourism services. The government has also invested in infrastructure improvements, such as the expansion of airports and the development of new tourist destinations.
The tourism industry has also been proactive in adapting to the pandemic. Many hotels, resorts, and tourist attractions have implemented health and safety protocols to ensure visitors can travel with confidence. The industry has also embraced technology, with many attractions offering virtual tours and online experiences.
Overall, Mexico’s tourism industry is a crucial contributor to the country’s economy, providing employment opportunities and driving economic growth. Despite the challenges posed by the pandemic, the industry’s resilience and adaptability have allowed it to thrive. As the world recovers from the pandemic, Mexico’s tourism sector is well-positioned to continue its growth and success.