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LatinNews Daily - 04 June 2021

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In brief: Mexico’s tourism sector set for a fast recovery

* The Centro de Investigación y Competitividad Turística Anáhuac (Cicotur), a local think-tank focused on tourism sector research, has said that it expects Mexico’s foreign tourism sector to recover faster than the global average from the economic crisis caused by the coronavirus (Covid-19) pandemic. The World Tourism Organization (UNWTO) has estimated that the restrictions on movement imposed around the world to contain the spread of Covid-19 has led to an 83% fall in international foreign tourist flows in the first quarter of 2021 compared with the same period last year. This has led the UNWTO to warn that the recovery of the global tourism industry will be slower than anticipated this year. But Cicotur director, Francisco Madrid, has said that Mexico could buck this trend. Madrid explained that the faster-than-expected economic recovery in the US and the ‘open door’ tourism policy pursued by the Mexican government throughout the pandemic should translate into a significant increase in foreign tourist inflows to Mexico this year given that the US is the main source of foreign tourists in Mexico. A report from Mexico’s central bank (Banxico) also projects that tourists’ spending in Mexico is likely to sharply increase this year, as the restrictions that currently affect Mexico’s hospitality sector are lifted.