Mexico’s foreign tourism revenue up 7.7% in May

Foreign tourism revenue was up 7.7% in May compared to 2023.  

According to the National Institute of Statistics and Geography (INEGI), Mexico received over US $2.46 billion in revenue from foreign tourists in May, compared to the $2.23 billion it earned in May 2023.

Tourists in Mexico taking a selfie
INEGI reported that May saw 6.72 million travelers enter the country, a 14.3% rise over 2023 figures. (Cuartoscuro)

INEGI’s report also revealed that foreign tourists entering Mexico via air spent on average US $1,115.31 — 1.5% more than last year. 

In a statement, Tourism Minister Miguel Torruco Marqués said that the increase in foreign currency revenue from international visitors and the average spend by tourists are important measures of a country’s potential in the tourism industry. 

As for the number of visitors, the INEGI reported that May saw 6.72 million travelers enter the country, a 14.3% rise over 2023 figures. Of these visitors, 3.4 million were foreign tourists.  

In his statement, Torruco added that from January to May, the inflow of foreign currency reached US $14.9 billion, an increase of 8.1% compared to the same period of last year and an increase of 35.1% over the same period of 2019. 

From January to May, Mexico saw the arrival of 18.1 million foreign travelers — an increase of 6.1% compared to last year, Torruco said. Of these tourists, 10.16 million travelers arrived by air — up 5.5% over the same period of 2023. 

According to official data, nearly 80% of total arrivals in 2024 have hailed from three countries: the United States, Canada and Colombia. The number of tourists from the U.S. was 6,248,000, while travelers from Canada numbered 1,537,000 tourists and 257,273 from Colombia.

With reports from El Economista

1 COMMENT

Have something to say? Paid Subscribers get all access to make & read comments.
MOnterrey view

Nuevo León leads all Mexican states in announced investments so far this year

0
Nuevo León has lived up to its reputation as an investment magnet by accumulating more private funds pledged to future projects than runners up Chihuahua, Sinaloa, Hidalgo and México state.
Dr. Simi Stori credit card

Farmacias Similares, Stori launch credit card featuring Dr. Simi

0
The co-branded card is expected to help millions of Mexicans who are not enrolled in the formal financial system access credit. 
A youtube video thumbnail reads "confidently wrong about inflation" with an image of mexican pesos and the podcast hosts

For the first time, Mexico’s inflation is now lower than in the US: A ‘Confidently Wrong’ podcast

0
In a new podcast episode, Travis and George break down the historic shift as Mexico's inflation falls below that of the US, and what it means for the peso and interest rates.
BETA Version - Powered by Perplexity