According to figures from the World Tourism Organisation (WTO), Mexico has moved up to ninth in the world for foreign exchange profits from tourism.
Mexico’s Secretary of Tourism, Miguel Torruco, stated that the World Tourism Barometer predicts that the country would rank ninth in 2022 for foreign exchange revenues per international tourist.
Torruco emphasised that Mexico improved from 17th place at the start of this administration in 2018 to ninth place in 2022 in terms of foreign exchange earnings per international visitor, placing it among the top 10 places for the second year in a row when measuring a country’s tourism potential.
The Secretary of Tourism confirmed that estimates for the end of 2023 show Mexico will bring in US$31.1 billion from foreign tourists, an increase of 11.3 percent over 2022 and 26.8 percent over 2019.
Tourism as Social Reconciliation
Torruco also noted that foreign exchange earnings from visitors to Mexico from other countries will reach US$28 billion in 2022. This is a 41.7 percent increase over 2021 and a 14% increase over 2019.
He also emphasised that this significant increase is consistent with the current tourism policy, which places an emphasis on foreign exchange earnings from international visitors rather than the number of tourists, with the aim of having the economic ripple effect permeate into the communities of the 235 locations in Mexico with a tourist vocation and turning tourism into a tool for social reconciliation.
The number of foreign visitors that visited Mexico in 2022 was 38.3 billion, an increase of 20.3% from 20.21 and only 14.9% more than in 2019.
As a result, Mexico is ranked sixth in the WTO list, after France, Spain, the United States, Turkey, and Italy. This represents growth given that Mexico was rated seventh in terms of foreign visitor arrivals at the end of 2018.
The global tourism industry is starting to rebound from the COVID-19 pandemic. And the truth is that in 2020 it experienced a big decline as the global market saw a decline of 72.2 percent in tourists and 62.6 percent in spending.
Proven Measures
The Secretary of Tourism emphasised that due to the policies put in place in Mexico (including the non-restriction of international flights, the creation of standardised bio sanitary protocols, and the vaccination strategy), there was only a 46.1 percent decrease in the number of foreign tourists who arrived and a 55.3 percent decrease in the amount of foreign exchange that they brought in.
For this reason, President Andres Manuel López Obrador was honoured by UNWTO Secretary General Zurab Pololikashvili for putting these policies in place that enabled the tourism industry in our nation to recover quickly.
According to Torruco Marqués’ research, the WTO estimated that about 963 million foreign visitors arrived worldwide in 2022, an increase of 111.2 percent over 2021.
And the predictions for 2023 are favourable. Tourists are anticipated to travel more frequently on short-haul trips and to seek out fair value for money more and more as a result of the difficult global economic situation, according to UNWTO.
Brazil Vs. Mexico
Brazil’s physical visa requirement has had an economic impact on Mexico of US$123.5 billion, resulting in a drop in visitor numbers of 92,784 between September 2022 and February 2023, with an effect primarily felt in the Cancun and Mexico City region.
The COVID-19 pandemic and ensuing visa requirements abruptly ended several years of rising tourist arrivals, according to an estimate by the Anahuac Centre for Tourism Research and Competitiveness (Cicotur), and the economic impact is equivalent to 1.1 percent of the tourism balance.
According to Francisco Madrid, general director of Cicotur Anahuac, only 30% of the population of Brazil is concentrated in the ten largest metropolitan areas. This high level of dispersion results in difficulty obtaining a visa because Mexico is a popular tourist destination.
“In 2022, the Brazilian market was recovering; it was the first in Latin America and the 20th largest market in the world. Additionally, with US$2,177 in foreign visitor spending last year, it is the sixth most expensive travel destination. Brazilian immigration reduced due to the epidemic and then somewhat more as a result of the visa regime, according to the expert.
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