Overview of Tourism GDP Performance
According to Mexico’s National Institute of Statistics and Geography (Inegi), the Tourism GDP, in seasonally adjusted figures, grew by 0.3% during the first quarter of 2025 compared to the previous quarter, surpassing the national GDP growth of 0.2%. However, it fell by 1.2% when compared to the same period in 2024.
Components of Tourism GDP
- The goods component increased by 0.9% and 1.1%, respectively.
- The services component, which accounts for 92% of the total, showed mixed results with a growth of 0.2% and a decline of 1.8%.
Tourism Consumption and Segment Performance
Tourism consumption rose by 0.6% compared to the last quarter of 2024 but decreased by 0.3% from the first quarter of 2024.
- The domestic segment (83% of total consumption) experienced a decline of 0.1% and 4.3%, respectively.
- The receptive segment increased by 3.3% and 18.8%, respectively.
Expert Analysis and Context
Humberto Molina, an economist specializing in tourism for Grupo Empresarial Estrategia (GEMES), noted that despite Mexico’s high tourism potential, there has been stagnation post-pandemic. He pointed out that the weak economic performance in Mexico is reflected in the 0.3% annual Tourism GDP growth and an increasing annual decline.
Molina also highlighted factors contributing to the slowdown, including insufficient national and international promotion of tourist destinations, insecurity issues within Mexico, and international uncertainty caused by US tariff concerns.
Government Response and Positive Indicators
Josefina Zamora, Mexico’s Secretary of Tourism, emphasized the 3.3% increase in receptive tourism consumption compared to the previous quarter, attributing this growth to Mexico’s rising popularity as a travel destination and the high quality of experiences it offers, leading to greater economic impact from foreign visitors.
In a statement reiterating the 0.3% quarterly increase in Tourism GDP, Zamora asserted that Mexico remains a global tourism powerhouse and a key driver of the national economy.
Key Questions and Answers
- What is the overall performance of Mexico’s Tourism GDP in Q1 2025? The Tourism GDP grew by 0.3% compared to the previous quarter but fell by 1.2% when compared to Q1 2024.
- Which components of Tourism GDP showed growth or decline? The goods component grew by 0.9% and 1.1%, while the services component (accounting for 92%) showed mixed results with a growth of 0.2% and a decline of 1.8%.
- How did tourism consumption perform in Q1 2025? Tourism consumption rose by 0.6% compared to Q4 2024 but decreased by 0.3% from Q1 2024.
- What factors are contributing to the slowdown in Mexico’s tourism sector? Factors include insufficient promotion of tourist destinations, insecurity issues within Mexico, and international uncertainty caused by US tariff concerns.
- What positive indicators are there in Mexico’s tourism sector? Mexico’s popularity as a travel destination is rising, leading to greater economic impact from foreign visitors.
