EconomyFinancialLast Minute: Tourism will concentrate 14.7% of GDP in...

Last Minute: Tourism will concentrate 14.7% of GDP in Mexico for this year

The World Travel and Tourism Council (WTTC, for its acronym in English) estimates that for this year the tourist activity will contribute around 190,000 million dollars (mdd) to the Mexican economy, equivalent to 14.7% of the Gross Domestic Product ( GDP) national, just below the rate of 14.9% registered in 2019 prior to the COVID-19 pandemic.

Julia Simpson, president and CEO of the WTTC, explained that over the next 10 years tourism is expected to generate 2.7 million new jobs, and that it will grow at an average annual rate of 3.2%, greater than the expected dynamism for the national economy. , of 2%.

Over the next decade, the WTTC forecasts that tourism will generate 2.7 million new jobs in Mexico. In addition, an average annual growth rate of 3.2% is forecast compared to the national economy of 2%.

“The pandemic had a devastating impact on travel and tourism; however, the good news is that there is a clear recovery in tourist activity in the country, which has always been a driver of development. Its rapid recovery demonstrates the strength of the sector”, said Simpson at a press conference.

For this year, it is expected that more than 419,000 new jobs will be generated in the sector, which would represent a growth of 7% compared to 2021, while the contribution to GDP would be equivalent to 13% that registered in 2021, when the contribution to the economy was almost 169,000 million dollars.

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