Mexico tourism expects tourist arrivals to reach 288 million by 2019

Mexico tourism expects tourist arrivals to reach 288 million by 2019 Mexico tourism expects tourist arrivals to reach 288 million by 2019

first_imgResearch and Markets has announced the release of the ‘Travel and Tourism in Mexico to 2019’ report.The number of inbound tourist arrivals to Mexico is expected to reach 28.8 million by 2019, representative of a CAGR (Compound Annual Growth Rate) of 2.96% during the forecast period. The growth is driven by the influx of tourists from the country’s North American neighbours. A large Mexican population resides in the U.S.; according to the U.S. 2010 Census, 33.7 million people of Mexican origin resided in the US. Mexico stands to gain from the U.S. based diaspora, as it will develop tourism packages targeted at the migrant population. Total inbound tourist expenditure will record a CAGR of 7.33% during the forecast period.Aviation capacity has been increasing. In 2011-2012, LCCs Interjet and Volaris ordered 40 Airbus jets each, and in August 2013, AeroMexico Airlines added one Boeing 787-8 jet to its fleet. Further growth in capacity is expected over the forecast period as AeroMexico plans to add another 19 Boeing 787-8 jets by the end of 2019.Mexico’s hotel market profited from the increased number of domestic and international visitors during the historic period. Total hotel revenue increased at a CAGR of 12.51% from MXN166.5 billion (USD 13.2 billion) in 2010 to MXN266.9 billion (USD 20.8 billion) in 2014, with upscale hotels recording the highest revenue growth at a robust CAGR of 12.83%.Adventure travel’s popularity, and government efforts to develop it as a niche tourism area, has made it important for travel agents and tour operators to be aware of the country’s adventure tourism offerings.The Mexican government has dedicated itself to improving infrastructure through the National Infrastructure Plan (NIP) 2014-2018. The plan includes the extensive development and upgrade of roads, ports, railways, and airports. Improvements to transport infrastructure will support the growth of the travel and tourism sector and its related industries. Private companies are also expected to increase their investments in the tourism sector, to reach a total investment of MXN109.6 billion (USD 8.6 billion) between 2014 and 2016.last_img

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