Experiential luxury in Mexico is comprised entirely of luxury hotels, with no significant luxury foodservice presence in the market. In 2021, the Mexican experiential luxury market has remained heavily reliant on domestic consumers.
While there is no luxury foodservice segment in the Mexican market, some of the safety measures and restrictions implemented around the reopening of restaurants are likely to have an ongoing constraining effect on hotels, as the measures apply to outlets within hotels. For example, buffets, which are popular in some hotels amongst tourists, are currently limited in the extent of their offer and operation, while menus are to be read through scanning a QR code and tables must be more than 1.
The restrictions on travel imposed by many source countries are still in place, and continue to impact the number of high-end inbound tourists to the country in 2021. Foreign tourist traffic volume is still below normal numbers and will remain so until vaccination policies reach a stabilisation point.
Experiential luxury is set to continue to see strong year-on-year value growth, with double-digit growth rates in both current and constant terms throughout the forecast period. Even so, sales are not expected to reach pre-pandemic levels until 2023 in current value terms and 2024 at constant 2021 prices.
Luxury hotels will need to do more than simply demonstrate strict hygiene measures, as they are currently doing. Private pools and room service could become more common and hotels will need to work out distinctive and original ways to provide a high-end experience.
Sanitation processes are becoming far more visible and evident in order to demonstrate the cleanliness of hotels and, thereby, convince guests and future clients of the safety of these establishments. Most luxury hotel websites now emphasise the strength of hygiene policies, and “sanitation actions and care” are a key focus throughout digital brochures and web content.
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Understand the latest market trends and future growth opportunities for the Experiential Luxury industry in Mexico with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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This is an aggregation of Luxury Hotels and Luxury Foodservice.
This report originates from Passport, our Experiential Luxury research and analysis database.
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