Mexico City, Mexico — The hospitality industry captures more than 75% of investment opportunities in Mexico. Miguel Torruco, Secretary of Tourism, said that of the 215 billion pesos invested in 521 tourism projects last year, 75.5% corresponds to the construction of new hotels.
Torruco revealed the numbers in Mexico City on March 9, the country’s Hospitality Day. He said hotel investments generated 115,201 direct and indirect jobs. He added that the states where hotel construction is most concentrated are Nayarit, Mexico City, Baja California Sur, Yucatan, Guerrero and Quintana Roo.
Torruco claims that the Mexican hotel industry represents 28.7% of tourism GDP and generates 9% of the travel industry and claims that each hotel room generates between 1.5 and three jobs.
He acknowledged that the hospitality industry, like the entire tourism sector, is going through tough times after the pandemic, but he nevertheless stressed that hotel investment has not stopped.
In 2020, the private initiative built 17,704 new hotels reaching 854,000 rooms in 24,700 establishments, placing Mexico seventh in the world in terms of hotel infrastructure.
In 2021, the tourism industry captured 4.1% of total foreign direct investment in Mexico, making the hospitality industry the backbone of tourism.