Tourism Grows in 1Q24, Shows Strong Post-COVID-19 Recovery

Mexico's tourism-related economy grew by 7.4% year-on-year in 1Q24. Experts suggest that INEGI's data reflects a positive trend in the recovery of Mexico’s tourism industry following the COVID-19 pandemic.

In 1Q24, Mexico received 11.22 million international tourists, representing a 6.9% increase compared to 2023. This influx generated US$9.172 billion in revenue, marking a 9.5% rise against the previous year. INEGI's report highlighted that the increase in tourism GDP was primarily due to a 10.4% annual rise in tourism services, despite a 3.5% decline in the goods sector. Additionally, tourism consumption rose by 2.4% year-on-year in 1Q24, with domestic tourism increasing by 4.5% and international tourism experiencing a 6% decline.

In 2024, foreign exchange income from international visitors is expected to reach US$31.14 billion, with an anticipated arrival of 42.47 million tourists and an average spending of US$1,155.1 per air tourist arrival. Additionally, 9.33 million cruise tourists are expected, spilling US$711.9 million.

In 2023, Mexico welcomed 42.15 million international tourists. Among them, US citizens were the largest group, totaling 13.5 million and accounting for 60% of all international visitors. Canada ranked second with 2.4 million tourists, while Colombia came in third with 735,000 visitors. In contrast, Brazilian tourism saw a significant 25% decline, largely due to the introduction of visa requirements for travelers from Rio de Janeiro. British tourism also experienced a 12% decrease in visits to Mexico, as reported by El Financiero.