US Tourists Flocking To Mexico To Escape Cold Weather
The Mexican economy is getting a boost from the cold temperatures seen this winter in parts of the United States.
The country is experiencing a record tourist season, as Americans use savings gained from cheap gas and the stronger U.S. dollar to spend time in warmer climates.
Among the top companies capitalizing on the trend are airlines like Volaris and Grupo Aeromexico SAB, the first- and fifth-best stock performers among Mexico’s 100 largest trading companies, as of earlier this month.
The tourist season is shaping up to be Mexico’s fourth largest source of foreign cash and a bright spot in an economy dragged down by low oil prices and production.
Mexico’s central bank says revenue from tourists in December was the highest for any Christmas season ever and foreign visits in January rose 8.9 percent from last year.