Market Report: Mexico
By Fabian Sanchez on August 7, 2020
Mexico Market Update
The Mexican Market Report provides an insight of the current state of the Mexican economy, the tourism sector, and the evolution of variables that have a tangible influence on the hotel investment market amidst the COVID-19 pandemic. During 2019 Mexico was ranked number 7 worldwide for the number of international tourists (OMT). Tourism accounted for an 8.7% share of the Mexican GDP in 2018.
Horwath HTL Mexico experts diagnose the short/medium-term direction the market can be expected to take, including:
- Industry performance, KPIs and tendencies before the COVID-19 outbreak
- Responses and measures hotel-chains, owners and operators are taking as well as challenges presented for each sector of the tourism demand.
- The behavior of Dollar-Mexican peso parity could result in a relevant competitiveness gain for the region.
- The tourism sector will not return to 2019 levels until the end of 2022
- The Mexican GDP will likely experience a fall of 8.3% for the 2020 period.
- There are no concrete countercyclical policies that incentivize a faster recuperation of the tourism industry.