The Secretary of Tourism of the Government of Mexico, Miguel Torruco Marqués, reported the results of the Quarterly Indicators of Tourism Activity (ITAT), made up of the Tourism Gross Domestic Product (GDP) and Domestic Tourism Consumption corresponding to the first quarter of 2024 with seasonally adjusted figures, published by the National Institute of Statistics and Geography (INEGI).
The head of the Ministry of Tourism (Sectur) reported that, when analyzing the trajectory observed in these two indicators, the Tourism GDP maintains a recovery trend since, in its annual comparison, it registered an increase of 7.2% in real terms and shows a recovery of 7.4 percentage points, compared to the annual variation of the first quarter of 2019.
He noted that the Quarterly Indicator of Tourism GDP in the first quarter of 2024 reported an annual increase of 7.2%; while the National GDP grew 2.0%, compared to the first quarter of 2023.
He indicated that, by components of the Tourism GDP in its annual rate, services grew 10.2% in real terms, while, compared to the previous quarter, they registered a growth of 5.3%.
Torruco Marqués mentioned that the Quarterly Indicator of Domestic Tourism Consumption in its annual comparison, showed an increase of 2.0%, while, compared to the previous quarter, it registered an increase of 2.7% in real terms.
Regarding the first quarter of 2023, among the components of Domestic Tourism Consumption, the results in their annual rate reflect a growth of 4.6% for Domestic Tourism Consumption.
Compared to the fourth quarter of 2023, Domestic Tourism Consumption grew by 2.1%, while Inbound Tourism Consumption increased by 4.9%.
The Secretary of Tourism said that based on the 2018 ITAT database and with original figures, it is estimated that in 2023 the Tourism GDP will register a real annual growth of 4.8%, compared to 2022, as well as a recovery of 4.3% compared to 2019.
With this result, the Ministry of Tourism maintains its expectation for 2023 regarding a participation of the Tourism GDP in relation to the National GDP of around 8.6% and 8.7% for 2024.
Torruco Marqués emphasized that thanks to the policies implemented by President Andrés Manuel López Obrador, tourism is consolidated as an important driver of economic development, which translates into benefits for the local population, in compliance with the instruction to make this sector a tool for social reconciliation.
Source: SECTUR.