Mexico Tourist Boom Stalls After Super Peso Boosts Travel Costs

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The travel boom that made Mexico one of the world’s top tourist destinations during the pandemic is coming to a halt as the appreciation of the peso increases travel costs, while making Mexicans opt to go abroad during vacation months.

The travel boom that made Mexico one of the world’s top tourist destinations during the pandemic is coming to a halt as the appreciation of the peso increases travel costs, while making Mexicans opt to go abroad during vacation months.

The so-called super peso has made a trip to Mexico more expensive in dollars for international travelers, with total spending down 7.2% in August, according to the INEGI estimates. At the same time, spending by Mexicans flying abroad grew almost 30%, a sign also of robust consumer demand as Latin America’s second-largest economy is seen growing 3.2% this year.

Mexico was one of the few main destinations that didn’t restrict international tourism during the Covid-19 pandemic, benefiting from the arrival of travelers — particularly from the US — that were barred or limited in other countries between 2020 and 2022.

Source : Yahoo