Tourism contributed 8.5% to Mexico’s GDP in 2022; recovered pre-pandemic levels

The production and trade of crafts, the sale of flights, reservations in hotels and guest houses and restaurants, bars and nightclubs are the services that generate the most income within the tourism sector.

After being one of the sectors hardest hit by confinements and the Covid-19 health crisis, the tourism sector consolidated its recovery and managed to recover its pre-pandemic levels.

In 2022, the gross production of the tourism sector had a value of 2,372,556 million pesos, equivalent to 8.5% of Mexico’s GDP in said period, according to figures from the Mexican Tourism Satellite Account of the Inegi (National Institute of Statistics and Geography).

During this year, tourism activities recovered the level of contribution to Mexico’s economy, which in 2019 was 8.6%, but by 2020 it fell to 6.8% and in 2021 it reached only 7.6 percent.

The sale of flights and trucks, reservations in hotels and guest houses and restaurants, bars and nightclubs are the services that generate the most income within the tourism sector. For its part, the production and marketing of handicrafts is the category of tourist goods that contributes the most.

In addition to its recovery, tourism in Mexico registered a significantly steeper economic expansion than the general economy. In year-on-year comparison, tourism GDP grew 13.8% in real terms, while total GDP advanced only 3.8 percent.

Locals drive tourism

Although Mexico is one of the countries with the largest reception of international tourism in the world, the consumption of local tourists continues to be the main driver of the sector: of every 100 pesos spent on tourism, 82 corresponded to the expenditure of resident tourists.

For domestic tourism, the main reasons for traveling are visits to family or friends, while for foreigners, vacations are the main reason for tourism in Mexico.

Tourism generated 2.8 million jobs

During 2022, the tourism sector generated 2.8 million jobs, 11.2% more compared to the previous year.

In relation to the total labor market, it was observed that 7 out of every 100 jobs were found in hospitality activities, food preparation, entertainment centers, crafts, air transportation or some other sector related to tourism.

Source: El Economista