Recent forecasts by FMI predict that by 2023, the sustainable tourism sector in Mexico may grow significantly, reaching a value of US$ 34.22 million. The projected CAGR of 13.8%, which indicates a strong upward trend for businesses in this industry, makes this estimate even more encouraging. As per the market analysis report, the overall market valuation is expected to reach US$ 124.65 million by the end of this forecast period.
According to the market survey reports, Mexico’s sustainable tourism sector currently generates between 3% and 4% of the global sustainable tourism market’s overall revenue. This demonstrates the nation’s expanding relevance and room for growth in sustainable tourism in the coming days. In the market report, some significant revelations illuminate how Mexico’s sustainable tourism industry is set to expand in the future years.
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Mexico’s rich cultural legacy, beautiful natural scenery, and different ecosystems all provide a strong basis for sustainable tourism growth. It now hopes to gain from its dedication to sustainable practices as authorities are now focusing more on the importance of traveling responsibly and sustainably. Mexico’s dedication to sustainable practices is anticipated to position it as an appealing alternative as customers are looking for locations that reflect their beliefs.
The Mexican government is now collaborating with organizations from the commercial sector to create market eco-friendly travel destinations and implement eco-friendly principles. Other initiatives like improving infrastructure to facilitate ethical travel are also anticipated to draw more environmentally concerned tourists looking for genuine experiences successfully.
Key Takeaways from the Mexico Sustainable Tourism Market Study Report
- The overall market is projected to witness an absolute dollar growth of nearly US$ 90 million over the next ten years until 2033.
- Eco-lodges, community-based tourism initiatives, and protected natural areas focus on developing ecologically and socially responsible travel experiences in Mexico.
- The Mexican federal government unveiled its ‘National Strategy for Sustainable Tourism’ in 2021. All facets of the tourist business, including travel, lodging, and leisure, were aimed at encouraging the adoption of sustainable tourism practices.
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Competitive Landscape for the Mexico Sustainable Tourism Market Players
Frommer’s, EcoColors, Intrepid, Project Expedition, Discover Corps, Titan Travels, Indus Travels, Global Basecamps, and Exodus Travels, among others, are some leading players in Mexico. Mexico supports further competition where this industry can help the local people by building partnerships promoting conservation, cultural preservation, and economic growth.
Many new organizations have come to satisfy the rising demand for ecologically and socially responsible travel experiences in Mexico, particularly after 2021. More partnerships among tourist industry participants, regional communities, and environmental groups could be crucial in fostering the development of the existing market players.
Recent Developments in the Mexico Sustainable Tourism Market
The ‘Indigenous Tourism Program’ initiative by the Mexican government started recently in the year 2023, by which indigenous communities around Mexico are encouraged to engage in community-based tourism. The program offers funding assistance to indigenous communities so they may create and promote sustainable tourism initiatives.
The first carbon-neutral hotel chain in Mexico got established by the Mexican hotel company Habita Hotels in 2022. The business intends to become carbon neutral in the coming years by investing in renewable energy projects and planting trees, among other strategies.
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Segments Covered in Mexico Sustainable Tourism Industry Survey Report
By Tourism Type:
- Eco-Tourism
- Green Tourism
- Soft Tourism
- Community Tourism
By Booking Channel:
- Phone Booking
- Online Booking
- In-Person Booking
By Tourism Type:
- Domestic
- International
By Tourist Type:
- Independent Traveler
- Tour Group
- Package Traveler
By Consumer Orientation:
- Men
- Women
By Age Group:
- 15 to 25 Years
- 26 to 35 Years
- 36 to 45 Years
- 46 to 55 Years
- 66 to 75 Years
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