Mexico climbed to 9th place in foreign exchange earnings from tourism in 2022
Published by Redacción AN / LP on May 21, 2023
Mexico has made significant strides in foreign currency income from international visitors, securing the ninth position worldwide, according to the latest World Tourism Barometer celebrated by the Ministry of Tourism (Sectur).
Under the current administration, Mexico has climbed from the 17th position in 2018 to its current ranking. Sectur’s head, Miguel Torruco, expressed his satisfaction with this achievement. In 2022, the economic benefit generated by international visitors reached $28.016 billion, marking a remarkable 41.7% increase compared to 2021 and a 14% rise compared to 2019, a year before the pandemic adversely impacted tourism activities.
Torruco emphasized that this consistent placement among the top 10 for two consecutive years is indicative of Mexico’s tourist potential. The current tourism policy prioritizes capturing foreign currency through international visitors rather than focusing solely on the number of tourists.
The Secretary of Tourism highlighted the objective of this approach, which aims to generate greater economic benefits for the 235 communities in Mexico with a tourism focus. In 2022, Mexico welcomed 38.3 million international tourists, representing a 20.3% growth compared to 2021, although only 14.9% of the figures recorded in 2019.
In terms of international tourist arrivals, Mexico secured the sixth position in the UNWTO’s top 10, trailing behind France, Spain, the United States, Turkey, and Italy. This progress is noteworthy, as Mexico was ranked seventh in international tourist arrivals by the end of 2018.
Despite the challenges posed by the COVID-19 pandemic, which resulted in a significant decline in global tourism, Torruco highlighted that worldwide international tourist arrivals in 2022 reached nearly 963 million tourists, representing a 111.2% increase compared to 2021.
Looking ahead, the UNWTO expects tourists to opt for short-distance trips more frequently in 2023 and seek greater value for money, given the challenging global economic environment.
Torruco estimated that by the end of the year, Mexico will attract $31.169 billion from international visitors, signifying an 11.3% increase compared to 2022 and a 26.8% surge compared to 2019.
He also emphasized the importance of organizing high-impact events in collaboration with authorities and private initiatives, as well as strengthening programs such as Ángeles Verdes, Pueblos Mágicos (Magical Towns), and the recently introduced Magical Neighborhoods.
Looking toward 2024, the end of this administration, Torruco expressed confidence that priority projects like trains, airports, and highways will be consolidated. These mega-projects, considered essential for national security and public interest, aim to ensure Mexico’s overall development.
Ultimately, these endeavors are expected to bolster economic flow and foreign currency earnings, fostering sustained growth in the tourism sector, and contributing to Mexico’s overall prosperity.
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