Home Business Domestic travel boom sparks Mexico hotel development

Domestic travel boom sparks Mexico hotel development

by sanmigueltimes
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The latest figures from analytics firm GlobalData suggest that the number of Mexican travelers spending on outbound travel is set to increase at a compound annual growth rate of 4.43 percent from $13.6 billion in 2018 to $16.9 billion in 2023.

According to GlobalData’s latest report, “Tourism Source Market Insight: Mexico,” this growth is driven by increasing employment opportunities and rising standards within healthcare and education.

But those outbound travelers may not all be headed due north … at least not directly north. The report notes that Mexican travelers have been looking beyond the United States, which it credits to Donald Trump’s 2016 electoral campaign and its perceived hostility. Canada experienced a growth in inbound travelers from Mexico with a 35 percent increase between 2016 and 2017 and a further 20 percent in 2018 for a total of 342,000 inbound Mexican travelers that year.

Still, the report suggests that the U.S. will continue to be the main destination for outbound Mexican travelers mainly due to accessibility and proximity.

“Established destinations throughout Europe such as Italy, Spain and France have also received an influx of Mexican travelers over previous years,” Johanna Bonhill-Smith, travel and tourism analyst at GlobalData, said in a statement. “Marketing bodies should tap into this traveler market as [Mexican] spending power develops and connectivity between destinations continues to rise.”


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