Mexico's tourism GDP grew in 2022

08-02-23

The Secretary of Tourism of the Government of Mexico, Miguel Torruco Marqués, announced the results of the Quarterly Indicators of Tourism Activity (ITAT), made up of the Tourism Gross Domestic Product (GDP) and Domestic Tourism Consumption for the third quarter of 2022 with seasonally adjusted figures, published by the National Institute of Statistics and Geography (INEGI).

The head of the Ministry of Tourism (SECTUR), said that, when analysing the trend observed in these two indicators, a sustained recovery trajectory stands out in the Tourism GDP, since, in its annual comparison, it registered an increase of 12.1% in real terms and shows a recovery of 11.1 percentage points compared to the annual variation of the third quarter of 2019 (1.0%).

Torruco Marqués added that, with respect to the previous quarter, tourism GDP in the third quarter of 2022 grew 1.6% in real terms, placing it seven tenths of a percentage point above national GDP, which grew 0.9% in this period.

It reported that, by components of tourism GDP, in its annual rate, goods grew 8.3% and services 12.8% in real terms. Meanwhile, with respect to the previous quarter, goods registered a growth of 5.1% and services 1.2%.

In parallel, the Quarterly Indicator of Domestic Tourism Consumption in its annual comparison, presented an increase of 14.5%, showing a recovery of 12.4 percentage points compared to the annual variation of the third quarter of 2019 (2.0%).

With respect to the second quarter of 2022, Domestic Tourism Consumption (which is equivalent to the sum of domestic tourism consumption and inbound tourism consumption), registered an increase of 2.7% in real terms, said the Secretary of Tourism.

Among the components of domestic tourism consumption, the results reflect an increase in their annual rate; that is, domestic tourism consumption grew 14.5% and inbound tourism consumption 14.2% in real terms. In comparison with the second quarter 2022, Domestic Tourism Consumption grew 2.6% and Inbound Tourism Consumption increased 3.2%.