Boston, MA -- (SBWIRE) -- 04/30/2014 -- The global financial crisis in 2009 had a negative impact on the Mexican travel and tourism sector during the review period (2009-2013). Economic conditions improved and, in 2010, the tourism sector showed signs of recovery, with growth recorded in domestic and international tourist volumes. Timetric expects the growth to continue over the forecast period (2014-2018) as international arrivals rise, driven by increasing tourist volumes from the US and Canada. The Mexican government's efforts to improve tourism and transportation infrastructure and the tourism board's efforts to promote Mexico as a leading tourist destination will support the upward trend in tourist volumes.
- The Mexican Riviera, which extends along the Pacific coast from Ensenada in the north to Acapulco in the south, is home to several of the best beaches and resorts in the country. The most popular destinations along the Mexican Riviera are Puerto Vallarta, Cabo San Lucas, the Nayarit Coast and Mazatlan.
- The Mexican government plans extensive infrastructure development over the forecast period, investing MXN4.0 trillion (US$315 billion) through the National Infrastructure Program (NIP). It plans to upgrade the country's infrastructure, including roads, ports, telecommunications, and water and energy facilities.
- A rise in manufacturing activities in Mexico will provide job opportunities to residents (leading to an increase in domestic and outbound tourism due to improved income levels) and increase business related tourism to the country. Mexico has an abundance of manufacturing units and is on track to becoming a leading manufacturing hub.
- Private companies are expected to invest MXN109.6 billion (US$8.6 billion) in tourism over 2014-2016, with a focus on the construction of new hotels, the renovation of existing ones and improvements to public places. Mexico's Board of Tourism Businesses expects the investment to create 28,000 direct jobs and 78,000 indirect jobs.
- The Mexico Tourism Board (MTB) launched several campaigns in 2013. The 'Mexico, Live it to Believe It' campaign was launched in August 2013 and ran until December with an investment of MXN551.8 million (US$43.3 million). In September 2013, the 'Vallarta - Nayarit. Live it to Believe it!' campaign was launched with an investment of MXN127.4 million (US$10 million) to promote tourism activity in Riviera Nayarit and Puerto Vallarta.
- Domestic low-cost carriers (LCCs) recorded growth in terms of passenger traffic during the review period. According to Official Airline Guide data, in September 2013, LCCs accounted for 59% of the total domestic capacity, up from the 34% share in 2009. The discontinuation of Mexicana's operations in 2010 and demand for low-cost air travel were responsible for the growth.
View Full Report Details and Table of Contents
Companies Mentioned in this Report: Grupo Aeromexico SAB de CV, ABC Aerolineas, SA de CV, Concesionaria Vuela Compania de Aviacion, SA de CV, Aeroenlaces Nacionales SA de CV, American Airlines Mexico, InterContinental Hotels Mexico, Grupo Posadas, SAB de CV, Grupo Empresarial Angeles, SA de CV, Best Western Hotels Mexico, Hoteles Mision, American Express Company (Mexico), SA de CV, Despegar.com Mexico SA de CV, La Casa del Viaje, SA de CV, Andalemundo Tours SA de CV, Anfitriones Nacionales, Alquiladora de Vehiculos Automotores SA de CV, Thrifty Car Rental Mexico, Avis Mexico Car Rental, Alamo Rent a Car Mexico, Royal Rent a Car SA de CV
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Consumer Goods research reports at Fast Market Research
You may also be interested in these related reports:
- Travel and Tourism in Egypt to 2018
- Travel and Tourism in Thailand to 2018
- Travel and Tourism in Argentina to 2018
- Travel and Tourism in Cyprus to 2018
- Travel and Tourism in Mauritius to 2018
- Travel and Tourism in Romania to 2018
- Travel and Tourism in Costa Rica to 2018
- Travel Intermediaries in Egypt to 2018: Market Databook
- The Future of Travel Intermediaries in Egypt to 2018: Market Profile
- The Future of Travel Intermediaries in Cuba to 2018: Market Profile