Due to the COVID-19 pandemic, the outlook for online travel agencies and other travel intermediaries in 2020 has turned extremely negative. Demand essentially ground to a halt for their businesses with the arrival of COVID-19 in the country, and, on top of this, many, although not all, of these companies have been forced to offer free cancellations and refunds to travellers in order to avoid alienating these customers.
While some online travel agencies in Mexico are offering refunds and free cancellations to travellers who have been forced to cancel their travel as result of the COVID-19 pandemic, not all are. This is especially true of smaller and independent travel agencies.
In January 2020, Despegar, the Argentina-based travel intermediary that is one of the most important intermediaries operating in the Mexican market, announced that it would be acquiring Best Day, a Mexico-based travel intermediary. This acquisition would have catapulted Despegar into the leading position in intermediaries in Mexico.
Recent years have seen a huge migration towards online sales in travel intermediaries and this has placed traditional bricks-and-mortar retail travel agents under huge pressure. In response to flagging demand, many store-based travel agents have invested in websites that can offer their clientele an omnichannel experience.
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Understand the latest market trends and future growth opportunities for the Travel Retail 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 report originates from Passport, our Travel Retail research and analysis database.
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