Industry Update
Press Release 2 December 2020

Horwath HTL Market Report: Mexico (English & Spanish)

share this article
1 min
Horwath HTL

Mexico Market Update

Advertisements

The Mexican Market Report provides an insight of the current state of the Mexican economy, the tourism sector, and the evolution of variables that have a tangible influence on the hotel investment market amidst the COVID-19 pandemic.

During 2019, Mexico was ranked number 7 worldwide for the number of international tourists (OMT). Tourism accounted for an 8.7% share of the Mexican GDP in 2018.

Horwath HTL Mexico experts diagnose the short/medium-term direction the market can be expected to take, including:

  • Industry performance, KPIs and tendencies before the COVID-19 outbreak
  • Responses and measures hotel-chains, owners and operators are taking as well as challenges presented for each sector of the tourism demand.

Key Findings:

  • The Mexican GDP will likely experience a fall close to 10.0% for the 2020 period.
  • The tourism sector will not return to 2019 levels until the end of 2022
  • Unfortunately, the current administration has not applied concrete countercyclical policies that incentivize a faster recuperation of the tourism industry.
  • The behavior of Dollar-Mexican peso parity could result in a relevant competitiveness gain for the region.

México: Actualización de Mercado

El Reporte del Mercado Mexicano brinda una visión del estado actual de la economía mexicana, el sector turístico y la evolución de las variables que tienen una influencia tangible en el mercado de inversión hotelera en medio de la pandemia de COVID-19.

Durante 2019 México ocupó el puesto número 7 a nivel mundial en número de turistas internacionales (OMT). El turismo representó una participación del 8.7% del PIB mexicano en 2018.

Los especialistas de Horwath HTL México diagnostican la dirección a corto / mediano plazo que se puede esperar que tome el mercado, incluyendo:

  • Desempeño de la industria, KPI y tendencias antes del brote de COVID-19
  • Respuestas y medidas que están tomando las cadenas hoteleras, propietarios y operadores, así como los desafíos que se presentan para la demanda turística.

Principales Hallazgos:

  • Es probable que el PIB mexicano experimente una caída cercana al 10.0% para el período 2020.
  • El sector turístico no volverá a los niveles de 2019 hasta finales de 2022.
  • Lamentablemente, la actual administración no ha aplicado políticas contracíclicas concretas que incentiven una recuperación más rápida de la industria turística.
  • El comportamiento de la paridad dólar-peso mexicano podría resultar en una ganancia de competitividad importante para la región.

About Horwath HTL

Horwath HTL is the world"s largest hospitality consulting brand with 45 offices across the world providing expert local knowledge. Since 1915 we have been providing impartial, specialist advice to our clients and are recognized as the founders of the Uniform System of Accounts which subsequently has become the industry standard for hospitality accounting. We focus one hundred percent on hotels, tourism and leisure consulting and have successfully completed over 16,000 projects.  If you have any questions, please contact James Chappell, Global Business Director at [email protected].

Contact
Stephanie Henley
Latest News
Advertisements