Travel And Tourism In Mexico To 2017

682 words - 3 pages

Travel and Tourism in Mexico to 2017

Tourism accounted for 12.5% of Mexico’s GDP and 13.9% of its total employment in 2012.

Aarkstore Enterprise (India), 28th September, 2013 : Despite a decline in 2009 due to the financial crisis, the Mexican travel and tourism sector performed well over the last five years. Inbound trips to Mexico recovered to register a CAGR of 0.52%, and outbound tourist volumes posted a CAGR of 1.09% during the same period. Promotional activities by the tourism authority, coupled with relatively stable economic conditions, were the key growth drivers. According to the World Travel and Tourism Council (WTTC), tourism accounted for 12.5% of the nation’s GDP and ...view middle of the document...

Realizing their importance, the Mexican government is taking steps to increase the volume of tourists arriving from the US and Canada. In 2012, Mexico welcomed a total of 18.4 million inbound tourists from the US and 1.3 million from Canada. The Mexican tourism agency launched a ‘Mexico taxi project’ campaign in an attempt to change the perception of North Americans towards Mexico and to attract more tourists.

In May 2010, Mexico liberalized visa requirements for international tourists, and the federal government launched a new visa policy with provisions for automatic entry to tourists, business and transit travelers who possess a US visa. In addition, the country launched an electronic visa application system for Russian, Brazilian and Chinese citizens, enabling them to apply for a Mexican visa online. This resulted in an increase in international visitors to Mexico over the past two years.

The Mexican drug war has had an adverse impact on the country’s tourism, which is one of the largest sources of foreign exchange earnings and major contributors to GDP. The Mexican tourism industry...

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