Mexico’s tourism economy will fall by 0.9% annually in the first quarter of 2025
Mexico’s tourism-related economy declined 0.9% annually in the first quarter of 2024, driven in particular by the decline in services, the National Institute of Statistics and Geography (INEGI) reported Friday.
- While tourism consumption grew by 0.2% year-on-year from January to March, with a 20.6% increase in inbound tourism, but a 4.2% decrease in domestic tourism, from foreign tourists.
Meanwhile, INEGI’s quarterly tourism activity indicators (ITAT) reported a quarterly increase of 0.3% in the tourism economy in the first three months of the year compared to the previous three months, according to seasonally adjusted figures.
This increase was due to a quarterly increase of 0.9% in goods and 0.2% in services.
Likewise, tourism consumption grew by 0.6% quarterly, with a 3.3% increase in foreign tourists, but a 0.1% decrease in domestic tourists.
- The data reflects the upward trend in tourism in Mexico, which welcomed 45.03 million international tourists in 2024, 7.4% more than in 2023, a sustained increase since the end of the COVID-19 pandemic.
Foreign currency income from international travelers in 2024 totaled $30,246.2 million , almost 6% more than the previous year.Mexico is the sixth most visited country in the world , according to the government and business leaders, based on data from the World Tourism Organization , while the country’s president, Claudia Sheinbaum, has set a goal of reaching the top 5.
