Tourism in Mexico registers historical record
Published by El Ciudadano México on February 28, 2023
The Ministry of Tourism (Sectur) in Mexico has announced that the country’s Foreign Direct Investment in Tourism (IEDT) reached a historical record of $3.4 billion in 2022, surpassing the $1.1 billion captured in 2019 and the record set in 2017 of $1.6 billion. The IEDT for 2022 represented 9.8% of Mexico’s National Foreign Investment, according to the Ministry of Economy’s records.
In the fourth quarter of 2022, the FDI registered $187.1 million, with the United States accounting for 84.1% of the total amount with $157.4 million. Canada contributed $39.3 million (21% of the total), followed by France with $12.8 million (6.8%), Colombia with $9.6 million (5.1%), and Germany with $2.1 million (1.1%).
In the same period, the states that captured the most FDI were Baja California Sur with $67.9 million (36.3% of the total), Nayarit with $32.8 million (17.5%), San Luis Potosí with $27.4 million (14.7%), Mexico City with $18.4 million (9.9%), and Yucatan with $10.3 million (5.5%).
Miguel Torruco Marqués, the head of the Ministry of Tourism, emphasized that the historical record set in the first semester of 2022 exceeded the IEDT captured throughout 2019 and the historical maximum of the IEDT captured in 2017.
The increase in tourism investment is a positive sign for Mexico’s economy, which has been hit hard by the COVID-19 pandemic. The tourism sector is a key industry in Mexico, accounting for approximately 8.7% of the country’s GDP and providing employment for millions of people. The Mexican government has been working to promote tourism and attract foreign investment in the sector, and the latest figures show that these efforts are paying off.
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