February 26, 2024
English TKP News

Mexico: Tourism GDP grew 7.4% in the 4th Quarter of 2022

The Secretary of Tourism, Miguel Torruco Marqués, reported that the Tourism GDP shows a recovery of 8.7 percentage points, compared to the annual variation of 2019

Torruco Marqués, announced the results of the Quarterly Indicators of Tourism Activity (ITAT), made up of the Tourism Gross Domestic Product (GDP) and Domestic Tourism Consumption corresponding to the fourth quarter of 2022 with seasonally adjusted figures, published by the National Institute of Statistics and Geography (INEGI).

The head of the Ministry of Tourism (Sectur), pointed out that, when analyzing the trend observed in these two indicators, a sustained trajectory of recovery stands out in Tourism GDP since, in its annual comparison, it registered an increase of 7.4% in real terms and shows a recovery of 8.7 percentage points compared to the annual variation of the fourth quarter of 2019.

Torruco Marqués highlighted that the Quarterly Indicator of Tourism GDP reported an increase of 7.4%; while the National GDP grew 3.6%, compared to the fourth quarter of 2021.

He reported that, by components of tourism GDP, in its annual rate, goods grew 0.7% and services 8.9% in real terms. While, compared to the previous quarter, goods are 2.7% away from reaching what was registered in the third quarter of 2022, while services registered growth of 1.9%.

In parallel, the Quarterly Indicator of Domestic Tourism Consumption in its annual comparison, presented an increase of 9.1%, showing a recovery of 8.5 percentage points compared to the annual variation of the fourth quarter of 2019 (0.6%).

Regarding the third quarter of 2022, Domestic Tourism Consumption (which is equivalent to the sum of Domestic Tourism Consumption and Receptive Tourism Consumption), registered an increase of 1.8% in real terms, said the Secretary of Tourism.

Among the components of Domestic Tourism Consumption, the results reflect an increase in its annual rate; that is to say, the Internal Tourist Consumption grew 11.0% and the Receptive Tourist Consumption 1.3% in real terms.

In its comparison with the third quarter of 2022, the Domestic Tourism Consumption grew 2.5% and the Receptive Tourism Consumption is only 0.6% away from reaching what was registered in the third quarter of 2022.

He highlighted that, based on the original figures, improvements are expected in the annual performance of Tourism GDP and Domestic Tourism Consumption in 2022 compared to 2021, as well as a reduction in the gap to reach the levels registered in 2019.

The head of Sectur stressed that it is estimated that in 2022 the Tourism GDP will register a real annual growth of 14.4%, a result that is compared with the increase observed in 2021, which was 14.9% and only 1.4% remaining to reach the level observed in 2019.

With this result, the expectations of the Ministry of Tourism for 2022 are confirmed, according to which the participation of the Tourism GDP in the National GDP will be around 8.6%, in the indicated year, concluded the head of Sectur.

Source : Sectur

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