Mexico to snare record highs in tourism revenues

Foreign tourism brought in more than $7 billion between January and September this year for a blistering 7.1 percent growth compared to 2002. This time up, the Mexican government expects to reach a record high of $9 billion.

Tourism minister Rodolfo Elizondo said would this trend go on for quite some time, "chances are Mexico could amass the largest amount of revenues ever in terms of hard currency with $9 billion.”

In the first three quarters of the year, the tourist balance produced a $2.5 billion surplus that marked 17.2 percent upswing stacked up against the numbers posted in the same period of time the year before.

In Mr. Elizondo’s own words, Mexico welcomed as many as 13.6 million foreign tourists between January and September for 6.6 percent decline compared to the year 2002.

That less amount of travelers, however, has spent more money ($653 per tripper). That figure –he said- accounts for a 4.9 percent increase over last year. Plane tickets are not included in those numbers.

In the same span of time, the local hotel industry reached a 55.8 percent average occupancy rate, up 0.5 percent compared to the year before.

According to statistics provided by Mexico’s Tourism Department, the leisure industry has led to the creation of 18,000 new jobs, thus notching the payroll in the sector up to 1.7 employees. Tourism is currently cutting an 8.3 percent slice of the nation’s gross national product.

In 2002, Mexico received 19.7 million foreign travelers who spent way over $8.8 billion in all.

The tourist sector stands for the country’s third hard currency maker, trailing behind oil exports (over $13 billion in 2002) and money remittances sent by Mexican-Americans ($10.5 billion).