Mexico: Food Service - Hotel Restaurant Institutional
Mexico is the world’s 15th largest economy and Latin America’s second largest. In 2020, Mexico experienced its worst economic downturn since 1932, mainly due to the COVID-19 pandemic. Despite the economic headwinds, 2020 U.S. agricultural and related-product exports to Mexico reached $18.9 billion, a 1.6 percent increase over 2019. Mexico ranked as the world’s seventh most-visited country in 2020, as the Government of Mexico (GOM) continued to allow international tourists. Nonetheless, Mexico’s hotel, restaurant, and institutional (HRI) industries were negatively affected by the pandemic, with numerous hotel closures and over 120,000 restaurants closures. The HRI sectors are currently recovering, and Post expects continued progress in 2022 due to evolving Mexican and international vaccine protocols and COVID mitigation strategies.