Mexico’s tourism revenue is increasing, thanks to a surge of international travelers. In 2012, Mexico received 23 million international tourists and 178 million domestic tourists. The majority of tourists are traveling from the U.S. and Canada but others come from the UK, Spain and South America.
It’s a fact that foreign as well as national investors prefer to orient their money toward these destinations: Cancun and Riviera Maya. As a result , it is expected that during this year 2013, the number of hotel rooms increases in the areas , which means a higher flow of investments in Mexican Caribbean, as well as more job opportunities for residents in Playa del Carmen and the Riviera Maya.
Mexico’s tourism sector is the third largest source of foreign exchange earnings for the country. The tourism sector generates 9 percent of GDP and directly employs 2.5 million people from $3.59 billion dollars in the first quarter of 2013, to $3.87 billion dollars, from January to March this year.
Reports showed that the increase in foreign currency revenue is attributed to an increase in tourists who are flying to the county. Tourists entering the country via plane account for the largest average expense of traveling to Mexico. This increase in tourists, and the resulting increase in revenue, will allow for Mexico’s tourism sector to prosper.
Foreign currency earnings generated by international visitors in Mexico registered an increase of 7.7%, from $3.59 billion dollars in the first quarter of 2013, to $3.87 billion dollars, from January to March this year.
The Ministry of Tourism in Mexico (Sectur) said that this figure is the result of a 5% increase in the flow of tourists who arrived to the country by air, which means that it increased from 3.3 million to 3.5 million tourists as of March 2013.
It is, as explained by the tourism authority, the most important international tourist segment because it accounts for the biggest average expense ($874), 3.8% more than the average expenditure recorded during January-March 2012. As of March this year, there were 3.9 million more tourists, 2% more than the 3.8 million tourists recorded during the first quarter of 2012.
The tourism ministry said that based on a report by the Bank of Mexico the economic turnover by tourists entering Mexico via plane showed an increase of 9%, from $2.81 billion dollars recorded through March 2012, to $3.67 billion dollars from January to March 2013.
Regarding average spending, most of the items recorded positive growth, highlighting the 9.1% increase in average spending by international visitors and 5.7% in the average expenditure of domestic tourists.The country generated total revenues of over $11 billion.