Tourism Seen Jumping to Mexico’s 3rd Biggest Cash Source by 2018

Mexico’s tourism industry, already the nation’s fifth-biggest source of revenue, is seen taking on more economic importance by the end of 2018 as international visits rise and new infrastructure is built, according to a cabinet official.

Tourism’s participation in Mexican gross domestic product will climb 100 basis points to 9.4 percent by the end President’s Enrique Pena Nieto’s administration, Tourism Minister Claudia Ruiz Massieu said in an interview at Bloomberg’s New York offices on June 21. The “upward trend” for the industry, which employs about 7 million people, will be driven by more visitors from countries outside of North America and better tourism facilities, she said.