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Follow on Google News | New market study, "Mexico Tourism Report Q2 2010", has been publishedNew Consumer Goods market report from Business Monitor International: "Mexico Tourism Report Q2 2010"
We are concerned that tourist revenues fell far more sharply than arrivals, slumping by 16.1% y-o-y during the first 11 months of 2009 to US$8.2bn. This is partly a result of the weakening Mexican peso, which has weighed on US dollar revenues. It also reflects a shift in the type of visitors coming to Mexico, away from high-end, long-stay travellers and towards short-stay arrivals. Many of those visiting Mexico in 2009 were short-stay and weekend visitors from the US rather than longer term holidaymakers. We expect this will create greater problems for the Mexican tourist industry than the visitor downturn, as it will weigh on investment potential in 2010. Focus On Guerrero The state of Guerrero is one of Mexico's most popular tourist destinations. It is located in the south west of the country next to the Pacific Ocean. This gives it different qualities to the states on the Caribbean coast and the Pacific coast is well known for its surfing beaches. In particular, Guerrero is famous for Acapulco - its major city, famous beach and surfing resort. Guerrero's economy is dominated by tourism, meaning that it suffered during the economic downturn. While arrivals are likely to return in 2010, we expect the Caribbean coast to experience the first uptick in tourist arrivals, with Guerrero slightly lagging popular Caribbean locations such as Cancun. Mexicana Comes Out Fighting Mexico's leading airlines, Mexicana and Aeromexico, had difficulties during 2008 and 2009 but are poised to make the most of the expected upturn in 2010. Mexicana forecasts an 8% y-o-y increase in passenger traffic in 2010, while Aeromexico is slightly more conservative with its 5% y-o-y growth forecast. Mexicana and Aeromexico have also benefited in some ways from the downturn, with some smaller budget airlines forced out of business. For Mexicana, this means its subsidiary MexicanaClick may be able to pick up market share in 2010. A sign of the industry's confidence in Mexicana was its admission to the Oneworld airline alliance in November 2009. For more information or to purchase this report, go to: - http://www.fastmr.com/ About Business Monitor International Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at http://www.fastmr.com/ About Fast Market Research Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156. End
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