Recently Released Market Study: Mexico Tourism Report Q3 2012
Fast Market Research recommends "Mexico Tourism Report Q3 2012" from Business Monitor International, now available
Boston, MA -- (SBWire) -- 07/24/2012 --The Mexico Tourism Report examines the enormous long-term potential of the market, given its proximity to the US, but flags up short-term concerns about rising levels of insecurity and the negative image this is sending to potential tourists.
We examines 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. The report also analyses the key domestic and foreign players in the Mexican market and the development strategies they are employing to maximise returns during the economic slowdown.
Although Mexico has not yet released complete tourist arrival figures for early 2012, perhaps owing to the ongoing election campaign, partial results announced by the Ministry of Tourism (Sectur) in early May suggest tourist arrivals from the US increased over the traditionally strong spring break period. The ministry said US visitors to Mexico in March rose by 7.2% year-on-year (y-o-y). Given that US visitors to Mexico fell by 3% y-o-y in 2011, this is an encouraging sign for an industry that depends so heavily on visitors from its northern neighbour.
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However, BMI remains concerned about the effect of the economic slowdown in Europe on arrivals to Mexico, particularly along the Mexican Riviera and in Yucatan. While the US economy is picking up, package tourists from Europe provide a significant number of visitors to Mexico. With security concerns in Mexico still high, 2011's sluggish arrivals growth may continue in 2012. BMI will wait to assess the arrivals from the first few months of the year before revising the 2012 forecasts.
The government is now preoccupied by the run-up to presidential and legislative elections in July, in which the opposition Partido Revolucionario Institucional (PRI) looks set to perform well at the expense of the incumbent Partido Accion Nacional (PAN). Given this political backdrop, few changes to tourism policy are expected during the campaign period or before the new president takes office in December. Any change of government is unlikely to affect the tourism sector, with the emphasis likely to remain on marketing campaigns emphasising that violence in Mexico is limited to certain areas.
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