Foreign Direct Investment in Tourism Reached $1.3739 Billion in the First Half of 2024

Mexico Breaks Record in FDIT A total of $13.207 billion recorded from 2019 to July this year

From 2019 to July 2024, Foreign Direct Investment in Tourism (FDIT) reached a historic figure of $13.207 billion, highlighted Miguel Torruco Marqués, Mexico's Secretary of Tourism.

This amount, he noted, is also 122 percent higher compared to the FDIT captured from 2013 to the second quarter of 2018, based on the Foreign Direct Investment Records of the Ministry of Economy. Additionally, he emphasized that in the first half of this year, FDIT amounted to $1.3739 billion, equivalent to 4.4 percent of the $31.0963 billion in Foreign Direct Investment (FDI) captured in the country.

Furthermore, it surpassed the $1.2429 billion that entered the country in all of 2019, the year before the COVID-19 pandemic, he remarked.

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Miguel Torruco Marqués added that during the second quarter of this year, Foreign Direct Investment in Tourism totaled $820.2 million, representing 16.1 percent of the FDI that entered the country, which also exceeded the $375.4 million reported in the same period of 2019.

From April to June, he detailed, FDIT in hotels with other integrated services reached $752.7 million, representing 91.8 percent of the total. Meanwhile, the category of furnished apartments and houses with hotel services accounted for $65 million, with a 7.9 percent share, and together they represented 99.7 percent of the total FDIT.

Torruco Marqués reported that from April to June 2024, the countries that registered the highest FDIT in Mexico were: Spain, with $634 million, representing 77.3 percent of the total; the U.S., with $117.4 million, or 14.3 percent of the total; and the Netherlands, with $29.2 million, or 3.6 percent of the total.

Additionally, the Secretary of Tourism emphasized that Public and Foreign Direct Investment in support of tourism infrastructure from 2019 to the second quarter of 2024 amounted to $46.3683 billion, the highest in the last 60 years.