The Mexican Market Report provides an insight of the current state of the Mexican economy, the tourism sector, and the evolution of variables that have a tangible influence on the hotel investment market amidst the COVID-19 pandemic. During 2019 Mexico was ranked number 7 worldwide for the number of international tourists (OMT). Tourism accounted for an 8.7% share of the Mexican GDP in 2018.
Horwath HTL Mexico experts diagnose the short/medium-term direction the market can be expected to take, including:
- Industry performance, KPIs and tendencies before the COVID-19 outbreak
- Responses and measures hotel-chains, owners and operators are taking as well as challenges presented for each sector of the tourism demand.
- The behavior of Dollar-Mexican peso parity could result in a relevant competitiveness gain for the region.
- The tourism sector will not return to 2019 levels until the end of 2022. The Mexican GDP will likely experience a fall of 8.3% for the 2020 period.
- There are no concrete countercyclical policies that incentivize a faster recuperation of the tourism industry.
About Horwath HTL
Horwath HTL is the world”s largest hospitality consulting brand with 45 offices across the world providing expert local knowledge. Since 1915 we have been providing impartial, specialist advice to our clients and are recognized as the founders of the Uniform System of Accounts which subsequently has become the industry standard for hospitality accounting. We focus one hundred percent on hotels, tourism and leisure consulting and have successfully completed over 16,000 projects. If you have any questions, please contact James Chappell, Global Business Director at [email protected].