Tourism In Mexico To Bring More Than $22 Billion Revenue By The End Of 2022

Tourism In Mexico To Bring More Than $22 Billion Revenue By The End Of 2022

Mexico has seen a boom in money by tourists from the period January to October 2022. Figures show more than $22 billion will enter Mexico from international visitors, nearly 50 percent more than in the same period in 2021. 

According to data from Mexico’s Ministry of Tourism, this figure of $22.5 billion even exceeds the same period of 2019 by 11.6 percent.

From January and October 2022 30.7 million international tourists entered the country according to the International Travelers Survey published by INEGI. This shows a growth of 21.5 percent compared to the same period in 2021 and just 15.8 percent shy of international tourists in 2019. 

In the first three quarters of 2022, 55.6 percent more tourists arrived by air compared to 2021. The 17.1 million inbound tourists even surpassed the 15.9 million tourists in the same period of 2019. 

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Not only are more tourists coming to Mexico, but they are also actually spending more. Mexico’s Secretary of Tourism, Miguel Torruco said the average expenditure of international tourists from was $691. This is 24.1 percent more compared to January to October 2021 and even higher than the same period in 2019.

Torruco stated that in 2019, tourists spent $504.10 on average, so the 2022 amount is 37.1 percent higher. 

Other figures that caught the eye are shown below:

  • At $19.1 million foreign exchange income increased 55.5 percent compared to 2021 and nearly $3 million more than 2019.
  • 52.5 million international visitors from January and October 2022 are 33.7 percent shy of 2019.
  • The balance of $16.9 billion is 52.7 percent higher than in 2021 and exceeded the 2019 period by 39.9 percent.

Furthermore, Mexico’s tourism sector is forecasted an interannual growth rate of 3.2%  over the next 10 years according to World Travel & Tourism Council (WTTC).