Markets
Mexico

Market Characterization for Portugal

In 2023, Mexico positioned itself as the 31st tourist market for destination Portugal measured by the overnight stays indicator (share: 0.3%) and ranks 27th for guests (0.5%). In 2023, the Mexican market recorded around 82.2 thousand guests (var.24/23: +49.1%) who generated 176.2 thousand overnight stays (var.24/23: +39.0%). It stands out as the 28th market in terms of tourism revenue, with €74.6 million, up 49.6% on 2022.

In terms of overnight stays, Greater Lisbon was the main destination for Mexican tourists visiting Portugal (55.9%), followed by the North (27.8%) and the West (4.9%). In terms of type, overnight stays in hotels predominated (75.6%), followed by local accommodation (16.6%) and apartment hotels (3.4%).

Portugal ranks 25th in total outbound air flows from the market; in this period, the airlines that transported Mexican tourists to Portugal were: Iberia (share: 36.8%), World2Fly Portugal (21.4%), Air Europa (13.1%), TAP (8.5%) and Air France (5.3%). The majority of operations originate in Mexico City (share: 60.0%), followed by Cancún (29.9%) and Monterrey (3.0%).

It should be noted that Mexican tourists stay an average of 13.9 nights in Portugal (ForwardKeys); the majority buy airline tickets through direct channels (share: 54.6%); and travel alone (41.7%).

According to SIBS data, Greater Lisbon will account for 58.5% of the 19.2 million euros in card purchases originating in Mexico in 2024. The North comes in 2nd place (share: 26.9%), followed by the West (4.5%).

2025 Position | Year-over-Year Change
Guests 0.1M 29º | -4.3%
Overnight stays 0.2M 31º | -5.0%
Tourism revenue 92.9M€ 29º | -0.1%

Market Profile

Change 24/23
130.9 M Population
0.9 %
25962.9 USD GDP per Capita
3.9 %
4 % Inflation Rate
-1.5 pp
19.3 % Savings Rate
0.0 pp

Mexico is a country with 130.265 million inhabitants in 2023 and was the 16th largest economy in the world.

According to Globaldata, Mexico was the world's 16th largest tourist market in 2023, generating 18.3 million trips and accounting for 1.4% of total global tourism demand. Around 7.3% of flows are concentrated on the European continent. The main regions sending Mexican tourists to Portugal were: Mexico City (share: 60.0%), Cancun (29.9%), Monterrey (3.0%), Guadalajara (2.4%) and other cities (4.7%).

In turn, 29.9% of trips abroad made by Mexican tourists in 2023 were by air and 70.1% were by land.

Perspectives

IMF figures show that Mexico's economy will grow by 3.2% in 2023, as a result of the current unfavorable international climate, the conflict in Ukraine, the war in the Middle East (Israel-Hamas), rising energy costs and the cost of other raw materials and intermediate goods. For 2024 and 2025, lower growth is expected: 1.5% and 1.3% respectively.

According to GlobalData, between 2024 and 2028 international departures by Mexican tourists abroad are expected to grow at a CAGR of 5.9%, reaching 30.5 million departures in 2028. Spending by Mexican tourists abroad is expected to increase at a CAGR of 9.8%.

According to estimates by OAG Scheludes Analyser, based on the 2024 summer season compared to 2023, the following number of airline seats available in Mexico for the main European destinations was evaluated for the period from April 1 to September 30, 2024: Spain: 550,000 seats (+9.8%), United Kingdom: 255,000 (-6.0%), France: 245,000 (+15.8%), Germany: 170,000 (+7.9%), Turkey: 90,000 (+11.0%) and Italy: 70,000 (+19.3%).

Looking at the volume of capacity scheduled from Mexico for this winter 2024-2025 (from October 1, 2024 to March 31, 2025), it is estimated that there will be a 0.4% increase compared to the winter 2023-2024 season. Available air capacity for the main European destinations: Spain: 600,000 seats (+7.1%), United Kingdom 245,000 (-7.9%), France: 220,000 (+10.1%), Germany: 175,000 (+4.8%), Turkey: 60,000 (+7.1%) and Italy: 45,000 (+16.7%).

Google Destination Insights' share of accommodation searches reveals that Spain leads the European countries with a share of 19.6%, followed by Italy (11.2%), the United Kingdom (5.6%), Portugal (4.4%), Greece (3.5%) and Turkey (3.1%), in the period from January to August 2024.

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