Tourism GDP slowed down at the end of 2022 – El Sol de México

The country’s tourism GDP slowed down in the last quarter of 2022registering growth at annual rate of 7.4 percentor, the lowest since the recovery began after the pandemic, the Inegi reported this Friday.

The indicator ran seven quarters with positive results, but the last three growth has been declining.

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This increase was driven by services, How are the hotels and restaurants?which had growth at annual rate of 8.9 percentwhile goods increased just 0.7 percent.

In addition, the value of the country’s tourism GDP at the end of the year was 0.8 percent below that registered in the first quarter of 2020, prior to the impact of the pandemic in the sector.

Internal tourist consumption, which is the expenditure made by travelers who visit the different destinations of the country, increased 9.1 percent compared to the fourth quarter of 2021, driven by compatriot tourists.

In its comparison with the previous quarter, the PIB of the country’s tourism activity grew 1.3 percent between October and December 2022its lowest result in almost two years.

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After the publication of the Inegi report, The Anáhuac Tourism Research and Competitiveness Center (Cicotur) estimated that tourism GDP grew 14.4 percent in all of 2022 Compared to the previous year, however, the indicator was 1.4 percent lower than in 2019, prior to the pandemic.