Americans, fearful of terrorism, take their trips south of border.Mexico's tourism revenue grew at twice the pace through April as in the first four months of last year because an improving U.S. economy spurred travel while concern about terrorism helped keep vacationers close to home. Tourist spending jumped 15 percent, to $3.9 billion, in the period, compared with growth of 7 percent, to $3.4 billion, a year ago, said Rodolfo Elizondo Rodolfo Elizondo Torres (b. July 18, 1946 in Durango) is a Mexican politician affiliated to the National Action Party. Elizondo Torres holds a bachelor's degree in administration from the Monterrey Institute of Technology and Higher Education (ITESM). , 58, Mexico's tourism minister. Increased travel to Mexico last year lifted the country to 10th in the world in dollar tourism from 13th the year before. "Tourists from the U.S., which is our most important market, are looking to travel less distance," said Elizondo. "So really, competition for Mexico is the U.S. itself and the Caribbean, and more people are traveling to Mexico." International tourism is Mexico's third-largest dollar earner following oil and remittances
Remittances are transfers of money by foreign workers to their home countries. from Mexicans abroad, helping lower the amount the government and companies need to borrow overseas to import goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. . Foreign tourists to Mexico are forecast to increase spending by 11 percent this year, pumping more than $10.5 billion into the country's $630 billion economy, said Miguel Torruco, president of the Mexico Hotel Association. U.S. and Canadian residents account for almost 80 percent of foreign tourists to Mexico, which led Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. with $9.5 billion in foreign tourism spending last year. Tourism is rebounding around the world as economies pull out of three years of slow growth, said Chase Burritt, founder of Miami-based Burritt Associates, a travel and resort development consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a . "Mexico is the beneficiary of U.S. economic performance," he said. "When the U.S. does well, generally the Mexico resort market does well." Americans will travel more this summer, led by trips to international destinations, as a rising U.S. economy boosts wages and personal income. U.S. travelers are shrugging off a 40 percent rise in gasoline gasoline or petrol, light, volatile mixture of hydrocarbons for use in the internal-combustion engine and as an organic solvent, obtained primarily by fractional distillation and "cracking" of petroleum, but also obtained from natural gas, by prices, fears of terrorist attacks and a slumping dollar to plan trips. THOMAS BLACK Thomas Black may refer to:
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