• WARNING: The Mexican tourism industry is warning that many small and medium-size enterprises (SMEs) will not be able to survive the economic crisis derived from the coronavirus outbreak if the Mexican government does not implement a fiscal relief program.
• MEETINGS: Hit by worldwide travel restrictions, Mexico’s tourism industry is bracing for a tough year including the cancellation of at least 300 large business meetings with an originally expected attendance of 54,000. The Mexican government has said it is not contemplating any fiscal relief.
• MISTAKE: “It’s a mistake (not to support companies). If we do not take care of SMEs, they probably they won’t exist by December. This is support for companies that maintain jobs. It’s not support for businessmen”, said Jaime Salazar, head of Mexican Council of the Meeting Industry (COMIR).
• RELEVANCE: Tourism is one of Mexico’s most relevant industries accounting for 85% of the country’s GDP and 5.8% of formal full-time employment in 2017, according to the Organization for Economic Cooperation and Development (OECD), of which Mexico is part.
