Published on : Friday, April 15, 2016
A new report issued by the GBTA Foundation at GBTA Conference 2016 Mexico highlights the positive economic impact that road warriors have on the nation’s economy and explores the quantitative impact business travel has on the Mexican economy. The study, sponsored by Intercontinental Hotels Group (IHG), reveals business travel spending in Mexico in 2015 reached $263.2 billion pesos ($15 billion U.S. dollars) making it responsible for 1.4 per cent of Mexican GDP.
The impact study also found businesses sent travelers on the road in Mexico for 17.2 million domestic business trips. The business travel industry supports 1.2 million jobs, $70.4 billion pesos in wages and salaries and also generates $71.2 billion pesos in federal and state level taxes.
“Business travel has proven time and again to be a major economic driver,” said Michael W. McCormick, GBTA executive director and COO. “This study shows that to be true once again as for every 1 percent increase in business travel spending in Mexico, the Mexican economy gains $2.6 billion pesos and 11, 800 jobs. Nothing can replace face-to-face interactions when it comes to getting business done, so it comes as no surprise the huge impact the business travel industry has on Mexico’s economy.”
“IHG believes companies distinguish themselves by their strong focus on analyzing traveler´s tendencies and by taking a proactive approach based on these to become and maintain a position as a leader in the industry,” said Gerardo Murray, Vice President Brands and Marketing for Mexico, Latin America and the Caribbean, IHG. “The Mexican market without a doubt, is one of the most important in Latin America and this research allows companies to refine their strategy to approach consumers of this key economy in a more efficient way.”
More study highlights include: