The Mexico sustainable tourism market value in Mexico is estimated to reach USD 34.22 million in 2023. As per the report, sales are forecast to increase at a robust 13.8% CAGR. The total business of Mexico sustainable tourism market represents 3% to 4% of the sustainable tourism market.
Around 25 million tourists traveled the world 50 years ago; today, there are 1.18 billion travelers, and by the end of the decade, that number is expected to rise to 1.8 billion. Numerous advantages come from tourism for the local economy, as well as for overall economic growth and job creation.
Indeed, tourism has increased the global GDP by 10%, significantly influencing the overall market size. But at the same time, tourism has had a negative impact on the environment, and many regions are in danger of extinction due to climate change.
| Attributes | Details |
|---|---|
| Mexico Sustainable Tourism Market Valuation in 2022 | USD 29.3 million |
| Estimated Market Share in 2023 | USD 34.22 million |
| Forecasted Market Size by 2033 | USD 124.65 million |
| Projected Market Growth Rate from 2023 to 2033 | 13.8% CAGR |
| Historical Market Growth Rate from 2018 to 2022 | 12.5% |
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Tourism's Potential to Fund Development Remains Elusive, Market Faces Dilemmas.
Tourism's potential to uphold local and regional development remains unrealized, and the segment faces sustainability and competitiveness challenges. Attention to date has mainly focused on the development of highly concentrated coastal resorts, which in turn is redirected into promotion, demand for sustainable tourism, and marketing.
Mexico may need to develop this model to strive in the changing global sustainable tourism marketplace and to spread the economic and social development benefits more extensively, boosting the sustainable tourism market key trends and opportunities.
National tourism policy targets to encourage investment and promote balanced regional and economic development, Mexico sustainable tourism market growth inclusive, and stimulate more productivity.
Recommendations for Policy
Policy recommendations emphasize significant areas to help brace sustainable tourism market future trends. Moreover, take benefit of sustainable tourism opportunities with high potential for economic progress, development, and investment, with a specific focus on the following areas:
Prolific and Distinct Resource Base:
Mexico has strong alternatives for tourism development. The overall market enjoys a significant asset base in terms of its built, cultural heritage, and nature beyond its coastal surroundings. The latent to package new and innovative tourism experiences based on this rich and unique resource base is significant.
Looking beyond conventional tourism hubs, this asset base signifies sustainable tourism market opportunities to consider tourism destination development in new sites which can better upkeep the regional spread of sustainable tourism services.
Sustains Local Employment and Revenue:
Better support for local occupations and revenues, opens up new employment and entrepreneurship prospects, especially for women and indigenous populations. It offers micro-enterprises better options for opening local supply chains impacting the overall market key trends and opportunities.
A further progressive feature associated with this model of tourism product modification is that around the world, travelers are moving in this direction too.
Infrastructural Improvements:
Infrastructure development in Mexico sustainable tourism is the key trend to achieving a tourism industry profile. It is based on a more diversified portfolio of tourism products, with investment in tourism-supporting infrastructure equally important as a tourist-centric investment.
Ensuring tourism is considered in wider infrastructure planning, notably transport, and internet connectivity, is required to address the infrastructure deficits currently. Limiting the market growth potential along with sustainable tourism market future trends, particularly in regional areas.
Realizing the tourism infrastructure projects in the National Infrastructure Plan 2014-18 and other programs may also be important, escalating the sustainable tourism market trends. Mechanisms are also needed to develop visitor services, product development, and marketing and to enhance information provision.
Principal Consultant
Guaranteeing Regional Economic Gain:
Diversifying the tourism product and securing a greater regional spread of the economic gain associated with tourism may require different policies and support. It may mean greater involvement by government agencies with a more diverse and fragmented Assessment and recommendations of 10 groups of small and micro tourism enterprises boosting the market opportunities.
This may require government agencies to develop a new and quicker skill set focused on the business development needs of small businesses leading to ramping up of Mexico sustainable tourism market future trends.
Most importantly, it may require new management and leadership skills that help overcome the inherent fragmentation in the tourism sector and skills that may support small businesses to integrate and cluster, to build some local economic scale influencing the sales of Mexico sustainable tourism.
The Tourism Industry's Fragmentation:
The fragmentation of the tourism industry tends to limit the efficacy of centrally planned policy interventions - locally based tourism entities can remain beyond the influence of central government planning.
Such a diversification approach should be complementary to the prevailing sun-sea-sand product and not be considered to replace it. This product may remain to be central to Mexico sustainable tourism market offer.
Mexico has a prospect to build on this to develop more diversified, greater-value tourism offers. In the future, tourism development may necessitate a refresh of the existing product and a focus on Mexico's considerable asset base to facilitate product diversification, greater inclusivity in terms of tourism employment, and greater regional spread of tourism influencing the overall market trends and forecast.
Under Mexico’s federal government structure, certain tourism policies, planning, and development activities are under the responsibility of the state and municipal authorities, which play a central role in implementing national tourism policy.
The Sectoral Program for Tourism 2013 to 2018 provided the policy framework for state and municipal-level tourism plans and programs. Coordination between different levels of government mainly occurs within the context of specific programs and initiatives, notably the Program for Sustainable Regional Tourism Development and Magic Towns (PRODERMAGICO).
Mexico's multi-level government structure has implications for tourism governance and the implementation of tourism policy. Strengthening coordination with each government and private sector level and adopting a more participative and collaborative approach provides more effective policy-making.
Such horizontal and vertical coordination is legally underpinned by the General Tourism Law 2009 but is challenging to achieve in practice affecting Mexico sustainable tourism market opportunities.
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Tourists primarily choose packaged travel because it is cheaper than traveling individually. Packaged travel includes expenses of accommodations, transportation, and sight entrance fee with heavy discounts and offers getting influenced by Mexico sustainable tourism market trends and forecasts.
| Category | By Tourist Type |
|---|---|
| Top Segment | Independent Traveler |
| Market Share in Percentage | 27.8% |
| Category | By Age Group |
|---|---|
| Top Segment | 26 to 35 Years |
| Market Share in Percentage | 34.5% |
Tourists prefer to book online or use a mobile application platform. This is to provide hassle-free digital payment transfer, live tracking, and enhanced security. In addition, online booking is becoming an increasingly popular approach worldwide. As travelers can use the Internet to search and compare information about vacation spots, accommodations, restaurants, and more, boosting Mexico sustainable tourism.
People from the age group 26 to 35 are more likely to travel, and it may remain the same, as people of this age are more like to get attracted and are ready to travel. They want to explore islands and new adventures experiences like scuba diving, water rafting, kayaking, surfing, etc., and visit popular sites according to destination ratings boosting the Mexico sustainable tourism market key trends and opportunities.
Leading companies operating in this market and Latin American government countries are focusing on making the country more sustainable, so they are launching new ways to make eco-friendly and sustainable tourism nature in the country.
The only operating pearl farm in the Caribbean is located at Cozumel Pearl Farm. The farm uses environmentally friendly products instead of chemicals because it is concerned with sustainability.
Even the infrastructure is environmentally friendly, with buildings built on stilts out of recycled telephone poles and other locally and sustainably sourced materials. The family-run project, which has been operating since roughly the turn of the century, has extended these sustainable practices to the ocean, where it has implemented ‘environmentally friendly anchoring systems that are used in all underwater installations today.’
Even an ‘artificial reef for coral gardening’ that boosts the economy was concocted. This is because fish are attracted to the area, which increases its appeal to tourists who enjoy fishing, diving, and snorkeling.
Recent Developments
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million or USD billion for Value |
| Key Region Covered | Latin America |
| Key Countries Covered | Mexico |
| Key Segments Covered | By Tourism Type, By Booking Channel, By Consumer Orientation, By Tourist Type, By Tour Type, and By Age Group |
| Key Companies Profiled | Frommer's; EcoColors Tours; SAT Mexico Tours and Travel; Intrepid Travel; G Adventures; Project Expedition; ROW Sea Kayak Adventures; Discover Corps; Titan Travel; Indus Travels; Global Basecamps; Exodus Travels; Explore |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The overall market is to grow at 13.8% during the forecast period.
The overall market is predicted to be valued at USD 124.65 million by 2033.
The overall market was valued at USD 29.3 million in 2022.
Mexico accounts for almost 3% to 4% revenue share of the global tourism market.
The Independent travelers' segment held 27.8% of the total business in 2022.
1. Executive Summary 2. Market Overview 3. Market Background 4. Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Eco-Tourism 5.2. Green Tourism 5.3. Soft Tourism 5.4. Community Tourism 6. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Booking Channel 6.1. Phone Booking 6.2. Online Booking 6.3. In-Person Booking 7. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Tourism Type 7.1. Domestic 7.2. International 8. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Traveler Type 8.1. Independent Traveler 8.2. Tour Group 8.3. Package Traveler 9. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Consumer Orientation 9.1. Men 9.2. Women 10. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Age Group 10.1. 15-25 Years 10.2. 26-35 Years 10.3. 36-45 Years 10.4. 46-55 Years 10.5. 66-75 Years 11. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By States 11.1. Market Size Value (USD Million) Forecast By Market Taxonomy, 2023 to 2033 11.2. Market Attractiveness Analysis 12. Market Structure Analysis 13. Competition Analysis 13.1. Frommer's 13.2. EcoColors Tours 13.3. SAT Mexico Tours and Travel 13.4. Intrepid Travel 13.5. G Adventures 13.6. Project Expedition 13.7. ROW Sea Kayak Adventures 13.8. Discover Corps 13.9. Titan Travel 13.10. Indus Travels 13.11. Global Basecamps 13.12. Exodus Travels 13.13. Explore 14. Assumptions & Acronyms Used 15. Research Methodology
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Mexico Sustainable Tourism Market
