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Mexico & Nafta - June 2018 (ISSN 1741-444X)
Economic Highlights
Tourism: On 9 May Mexico’s tourism minister, Enrique de la Madrid, told reporters that Mexico is now the sixth-most visited country in the world, up from 15th four years ago. De la Madrid said that tourism is one of the Mexican economy’s biggest sectors, accounting for 8.7% of GDP – more than construction, energy, agriculture, and the financial system. According to the most recent (January) figures from the United Nations World Tourism Organisation (UNWTO) there were 35m tourist arrivals in Mexico in 2016, up from 32m the previous year. Total expenditure from tourism was US$20.6bn in 2016, up from US$18.73bn on the same figures. Meanwhile on 14 May Mexico’s national statistics institute (Inegi) released new indicators of economic activity in the tourism sector. These show that tourism GDP and interior tourism consumption (consumption of both resident and non-resident visitors within the economic territory of the country) were up 0.5% in the final quarter of 2017 compared with the previous quarter, while the year-on-year rates were 2% and 1.4% respectively.
