Foreign investment in tourism reaches a new record in Mexico

Foreign investment in tourism reaches a new record in Mexico

EFE.- Foreign direct investment in tourism broke a historic record, reaching $3,447 million in 2022, said the Mexican government’s Minister of Tourism, Miguel Toroco, on Sunday.

The official stressed that this figure exceeds the levels of 2019, before the Covid-19 pandemic, as tourism foreign direct investment recorded $1,091.4 million, and its highest peak, in 2017, amounted to $1,645.4 million.

The Mexican official explained, based on figures from the Ministry of Economy, that foreign direct investment from the tourism sector represented 9.8% of the country’s total foreign direct investment at the end of last year.

Toroko also noted that in the last quarter of 2022 alone, foreign direct investment in tourism amounted to $187.1 million.

According to Toroko, the countries that contributed the largest influx of foreign investment into this sector during this period are: the United States, with $157.4 million; and Canada, $39.3 million. France, $12.8 million. Colombia 9.6 million dollars and Germany 2.1 million dollars.

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By states, the countries with the most foreign tourism investment were: Baja California Sur, Nayarit, San Luis Potosi, Mexico City, and Yucatan.

“The above reflects the confidence Mexico gives to international investors and businessmen, who contribute to strengthening the tourism infrastructure of the country’s various destinations,” he said.

The Mexican Minister of Tourism also emphasized that tourism is also a “tool of social reconciliation” and a detonator of economic benefits and per capita spending by tourists, for the benefit of Mexicans.

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