Foreigners cancel business travel to Mexico amounting to US $105 million loss

Wednesday, February 27, 2019

Foreign investors cancelled 2 billion pesos (US $105 million) of spending on business travel to Mexico. The business travel has been cancelled owing to uncertainty in the Mexican economy.

As per, Jaime Salazar, president of the Business Travel Industry Council (Comir), foreign companies that had planned to hold large corporate events in Mexico over the next three years have cancelled their plans due to ‘uncertainty in the financial sector and a lack of clarity from the federal government.’ All events associated with federal agencies will likely be cancelled or significantly reduced according to him.

He added: “As a result, we are expecting a 30% drop in events nationwide in the business tourism sector.”

The disbanding of the Tourism Promotion Council (CPTM), and the decision to move the responsibility for tourism marketing toMexico’s embassies around the world has resulted in lack of confidence in the Mexican market.

Comir is trying to make up for the dissolution of CPTM. It represents several large tourism conventions to try to attract businesses to Mexico for conferences and meetings.

Comir has decided to organize pavilions for several of the industry’s most important events, like AMEX Las Vegas. They will continue doing it until the country’s embassies are truly qualified to take over promotion.

« Back to Page

• Unlocking the Future of Business Travel: Mastercard’s Insightful Report

• CT Travel Group commemorating 35 years in business travel

• WestJet CEO Alexis von Hoensbroech Unveils Long-Term Growth Strategy for Alberta’s Capital

• Business Travel Rebounds, Boosting U.S. Airlines’ Financial Prospects

• Avianca seeks permission for nonstop flights between Brasilia and Bogotá