• SPENDING: Tourism spending in Mexico could fall nearly 50% in 2020 due to the coronavirus shock putting at risk 1 million industry jobs, according to Mexican think tank CICOTUR. Jobs in the Mexican tourism industry before the shock were estimated at 4.1 million.
• TAX REVENUE: Experts believe that the drop in tourism spending in Mexico would be equivalent to US $ 258.1 billion. With no major relief program to help the tourism industry, the federal government is expected to lose US $4.2 billion in tax revenue.
• RELIEF: “What would help alleviate these negative effects is helping the federal government to start implementing measures to support demand and companies whenever it is possible to recover travel”, said Francisco Madrid, head of CICOTUR, who is based at Anáhuac University in Mexico City.
• INTERNATIONAL: Mexico is among the top six countries with most international visitors every year according to the UN’s World Tourism Organization. Government data shows that international visitors to Mexico increased more than 8% in 2019 reaching 44.7 million.
