“In 2017, the total contribution of the travel and tourism industry in Mexico’s GDP was 185.4 billion US dollars, an increase of 2.8% compared to the same period one year earlier,” revealed the World Travel and Tourism Council.
In a conference call, Gloria Guevara Manzo, president and CEO of the Council, said that this represents 16 percent of the national GDP -which last year grew 2.1 percent-, since it not only includes the direct contributions, but also the indirect contributions and the so called “induced”.
“For example, a direct income is the invoice of a hotel, an indirect are the inputs used to provide services at the hotel, such as food; and “induced” is the daily expense generated by the people who work for the hotel,” explained the former head of SECTUR.
In 2017, the total contribution of the travel and tourism industry in Mexico’s GDP was 185.4 billion dollars, an increase of 2.8% . (Photo: contactohoy.com)
Guevara Manzo stressed that this growth has much to do with the investment made by both the public sector in infrastructure and the private sector in the improvement of its services.
“Investment in travel and tourism in 2017 was 229 billion pesos; Mexico is the fifth place in terms of generation of direct and indirect employment in the tourism throughout the world,” explained Guevara Manzo.
In North America, the travel and tourism industry grew 2.5 percent below Mexico, but globally, it expanded 4.6 percent.
By 2018, the WTTC estimates that the total contribution of the travel and tourism industry in Mexico can grow 3 percent, while by 2028 it will grow 7.9 percent.
“Mexico will be the fifth economy -at global level- that will have the greatest growth in terms of tourism,” said Guevara Manzo.
She considered that the presidential elections will not be an impediment for Mexico to keep on attracting tourists, because abroad there is a perception that the country has established institutions and a growing democracy.
“It is true that crises (political crises such as the one in Barcelona) affect tourism, but we do not see that happening in Mexico,” she concluded.
Source: elfinanciero.com.mx