Mexico: 14.975 billion dollars in international tourism revenues from January to May 2024

17-07-24

Mexico's Ministry of Tourism (Sectur) reported Sunday that international tourism revenues reached US$14.975 billion during the first five months of 2024. This figure represents a significant increase compared to the same periods of previous years.

According to Sectur's press release, revenues from January to May 2024 were 8.1% higher than those recorded in the same period of 2023. Moreover, this figure is 35.1% higher than that captured in the same interval of 2019, before the COVID-19 pandemic.

The Secretary of Tourism, Miguel Torruco, highlighted that between January and May, 18.12 million international tourists entered the country, according to data from the International Travelers Survey published by the National Institute of Statistics and Geography (Inegi). This number represents an increase of 6.41% over the same period in 2023.

The report reveals that foreign exchange income from international tourists in these first five months of the year was US$13.903 billion. In addition, the arrival of 10.52 million tourists on commercial aircraft was recorded, representing an increase of 8.1% compared to the first five months of 2023 and 41.4% more than in the same period of 2019.

Torruco noted that the average expenditure of inbound tourists by air between January and May 2024 was $1,217.3, up 2.3% over 2023 and 16.7% over 2019.

Cruise tourism also showed a remarkable performance. During the first five months of the year, revenues from foreigners arriving on cruise ships to Mexico's different ports amounted to US$381.9 million, 32.5% more than in the same period of 2019.

The Secretary of Tourism also highlighted that the balance of the balance for international visitors from January to May was 10.983 billion dollars, 3.2% more than in 2023 and 53.3% more than in 2019. This positive balance reflects the robust growth of the tourism sector and its significant impact on the Mexican economy.

The notable increase in international tourism receipts is a positive indicator for the Mexican economy, evidencing a sustained recovery of the sector after the challenges imposed by the pandemic. The improvement in revenues and tourist numbers reflects the renewed confidence of international visitors in Mexico as a tourist destination.

However, this growth also presents challenges. The tourism infrastructure will need to adapt to handle the growing number of visitors and ensure that the tourism experience remains positive. In addition, it is crucial to continue with promotional strategies and improve security in tourist destinations to maintain and increase the flow of tourists.

International tourism has proven to be a vital source of revenue for Mexico, with a significant economic impact in the first five months of 2024. With a continued increase in revenue and visitor numbers, Mexico's tourism sector is emerging as a key driver of the country's economy.

The commitment of the Ministry of Tourism and the Mexican government to fostering sustainable tourism growth is evident in recent results. Promotional strategies, improved infrastructure and a focus on security are essential to ensure that Mexico remains an attractive destination for international tourists for years to come.