Mexico is currently experiencing its greatest ever period for tourism.
In welcome news for the North American country, Mexico is latching onto the surge in global tourism, seeing great gains across the board and is now able to claim record figures for its tourism sector.
Representing 8.5% of the country’s GDP, the industry is the main driving force (after manufacturing) behind Mexico’s economy.
The rate of foreign visitors arriving to the country grew by 9% in 2016 which works out to 35 million people. Foreign currency entering Mexico has increased by 10% and the tourism industry’s account balance – which is the dollar inflow versus dollar outflow – has improved by a hefty 22%.
This increase in account balance is put down to a disparity in foreigners visiting the country compared to Mexican’s travelling elsewhere.
This all results in Mexico’s tourism sector exceeding the world average. Which is fantastic news for the nation as the industry is only becoming more important with regards to employment as time goes on.
After a rocky start to the decade, Mexico has swiftly recovered and is now flourishing like never before.
Experts say this is thanks to a number of factors, mainly the current weakness of the Mexican peso as compared to other currencies – making the country cheaper for visitors; also the strength of the United States’ economy which accounts for one third of all visitors to Mexico, and an increase in the number of flight connections.
Tourism is doing so well that that it is out delivering the revenue from the sale of petroleum for the first time since 1998. And considering that at the time a barrel was going for just 10 dollars compared to today’s 55 dollars, this only goes to show just how well things are doing, proving once more that Mexico is a red hot destination for solo holidays and travellers of all kinds.
