Mexico tourism up 4.6% but spillover growth lags at 0.5%

Mexico's international tourist arrivals rose 4.6% YoY in H1 2026 to 24.5 million, yet economic spillover grew only 0.5% to $18.781 billion, indicating lower per-tourist spending. This divergence suggests a shift toward lower-yield tourism, potentially pressuring Mexico's services sector and current account dynamics.