Mexico's Tourism Industry Expects Significant Growth in 2005

Strategic Insights -

Mexico's tourism industry is expecting a boost in revenue and visitor numbers in 2005, thanks to intensified global advertising and promotional efforts. According to the Mexican Tourism Promotion Board (CPTM), the sector is expected to welcome 21.6 million foreign visitors, a 5.36% increase from the previous year. This growth is expected to translate into significant revenue gains, with the industry's earnings projected to rise to US$11.31 billion, a 6.5% increase from 2004.

Key Takeaways:

  • The Mexican Tourism Promotion Board (CPTM) expects a 5.36% increase in foreign visitors in 2005, with 21.6 million visitors anticipated.
  • Foreign tourism in Mexico is expected to grow more than 5% in 2005, thanks to intensive global advertising and promotional efforts.
  • The industry's revenue is projected to climb to US$11.31 billion in 2005, a 6.5% increase from 2004.
  • CPTM Director General Francisco Ortiz Ortiz credited the success of the promotional strategy to fixed promotions and commercials showcasing Mexico's attractions to international tourists.
  • The CPTM's promotional strategy will continue to focus on negotiations with cooperative partners and participation in international trade programs.
  • The growth of Mexico's tourism industry is expected to have a positive impact on the country's economy.

Statistics:

  • Mexico is expected to welcome 21.6 million foreign visitors in 2005, a 5.36% increase from the previous year (CPTM).
  • Foreign tourism in Mexico is expected to grow by more than 5% in 2005 (CPTM).
  • The industry's revenue is projected to climb to US$11.31 billion in 2005, a 6.5% increase from 2004 (EL ECONOMISTA/Corporate Mexico by Internet Securities, Inc. via COMTEX).
  • The Mexican Tourism Promotion Board (CPTM) estimates that the industry's earnings will account for 6.5% of the country's GDP (Francisco Ortiz Ortiz).

Sources:

  • El Economista/Corporate Mexico by Internet Securities, Inc. via COMTEX, "Mexico's Tourism to Grow More than 5% in 2005" (January 17, 2005)
  • Mexican Tourism Promotion Board (CPTM)