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Mexico Tourism Report Q3 2013 - New Market Research Report

Fast Market Research recommends "Mexico Tourism Report Q3 2013" from Business Monitor International, now available

 

Boston, MA -- (SBWIRE) -- 07/22/2013 -- We believe there is enormous long-term potential for the Mexico Tourism market, given its proximity to the US, but we flag up short-term concerns regarding rising levels of insecurity and the negative image this is sending to potential tourists.

We examine how best to maximise returns in the Mexican tourism market, capitalising on the country's considerable attractions and benefiting from its well established position in the region. The report also assesses the impact of the slow recovery in the US, which is feeding through to affect demand in Mexico.

Key Findings

Data from the Mexican Ministry of Tourism (SecTur) shows that arrivals got off to a slow start in 2013, with tourist arrivals totalling 3.88mn in the first two months of the year, declining by a marginal 0.05% year-on-year (y-o-y). January and February are traditionally low season in Mexico so we expect the rate of arrivals to pick up later in the year, especially once the arrivals data for March and April is released, with Easter falling on the last weekend of March this year. We are forecasting total arrivals of 11.2mn in 2013, representing an increase of 1.34% y-o-y.

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Despite this low level of growth in 2013, we expect investment into the tourist industry to remain consistent, given the positive fundamentals underpinning Mexico's tourist industry. In particular, investment into the hotel sector looks set to grow, with the industry value of hotels and restaurants forecast to rise by 6.88% y-o-y in 2013, to US$25.9bn.

We believe that a recent reform passed by the Mexican Congress will further increase interest in Mexico's tourist industry. A new law passed in April 2013 will allow foreign nationals to purchase coastal and border property in Mexico. Previously foreign nationals were unable to do so, meaning that an industry sprang up for Mexican companies to buy such land and then set up long leases for non-Mexicans. Although this reform only affects individuals rather than companies, we view it as a first step towards liberalising the sector and expect that it will encourage more foreigners, particularly from the US, to buy holiday or retirement homes in Mexico.

- This quarter, BMI has given Mexico an overall Tourism Industry Risk/Reward rating of 62, putting it in 3rd position in the Americas, sitting before Costa Rica and behind Canada.
- BMI is forecasting total inbound tourist arrivals of 11.1mn in 2013, or growth of 1.37%. We are forecasting outbound tourist departures to grow by a much higher rate of 8.05%, to 20.3mn, reflecting growing consumer purchasing power in Mexico.

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