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.
Key Findings:
- 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.