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Market Report, "Future of Travel and Tourism in Mexico to 2016", Published

New Consumer Goods market report from Timetric: "Future of Travel and Tourism in Mexico to 2016"


Boston, MA -- (SBWIRE) -- 01/16/2013 -- Following the US, Canada and Barbados, the Travel and Tourism Competitive Index (TTCI) ranked Mexico as the fourth-most attractive destination within the Americas region to develop travel and tourism business. Mexico's travel and tourism sector comprised 12.5% of the nation's GDP in 2011, and accounted for four million jobs, representing 11.1% of the country's total employment. Of the total jobs created through the sector, 2.5 million were industry specific, while 1.5 million were supply chain related. During the review period (2007-2011), the total number of trips, both domestic and outbound, undertaken by residents increased from 160.4 million in 2007 to 188.3 million in 2011, registering a CAGR of 4.09%. While domestic trips increased at a CAGR of 4.77% during the review period, outbound tourism declined at a CAGR of 2.55% due to economic recession, lower levels of disposable income and the devaluation of the peso.

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Key Highlights

- Mexico receives the tenth-highest volume of foreign tourists in the world.
- Mexico has a number of popular tourist attractions, such as the ancient Meso-American ruins, which is the most-visited tourist destination by inbound tourists in Latin America, and the second-most visited destination in the Americas.
- The Mexican government has recognized the importance of travel and tourism to the country's economic growth and, as a result, has increased its efforts to attract visitors. For example, the government signed the National Tourism Accord in 2011, with the aim of turning Mexico into one of the five-leading tourist destinations in the world by 2018.
- Mexico also launched the Mayan tourism campaign 'Mundo Maya 2012' (Mayan World 2012) to promote the legacy of Mayan culture in the country.
- Government investment in tourism reached MXN4 billion (US$300 million) in 2010, a 200% increase over figures from 2006. Investments were even greater in 2011, with MXN6.8 billion (US$530.2 million) invested in promotional activities alone.
- The total revenue generated by airlines reached MXN99.9 billion (US$8.1 billion) in 2011. Full service carriers accounted for the highest proportion of the total revenue generated by airlines with a share of 78%, followed by low cost carriers with a 19.8% share and charter carriers with a 2.2% share.
- The Mexican hotel market extends from the North East to the Central part of the country, with approximately 45% of Mexico's hotels, concentrated in Mexico City, Guadalajara, Monterrey and beach areas such as Acapulco, Cancun and the Gulf Coast. This concentration is even greater among budget and mid-scale hotels.
- Mexican car rentals through online sites increased significantly in 2010 and 2011, with approximately 95% of these rentals generated by travel agents and tour operators that offer car rental services through their websites.

Companies Mentioned in this Report: Aerovia de Mexico S.A. de C.V., Concesionaria Vuela Compania de Aviacion, Company Profile: ABC Aerolineas, S.A. de C.V., Aeroenlaces Nacionales S.A. De C.V., Grupo Aereo Monterrey S.A. de C.V.- Company Overview, Grupo Posadas, S.A.B. de C.V., Accor Mexico, Grupo Empresarial Angeles, S.A. de C.V., Grupo Carso, S.A.B. de C.V., Wyndham (Mexico), Alquiladora de Vehiculos Automotores S.A de C.V., Thrifty, Inc., Alamo Rent a Car Mexico, Casanova Rent Volks, S.A. de C.V, Royal Rent a Car S.A. de C.V., American Express Company (Mexico), S.A. de C.V., La Casa del Viaje, S.A. de C.V., Anfitriones Nacionales, Viajes Felgueres S.A. de C.V., Viajes Excelsior

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