Everyone Should See Chichén Itzá? Maybe Not

William Law - Jun 30, 2008
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Economic growth is slowing in Mexico, as the hit from the U.S. recession offsets a boom in oil revenues. The government expects the gross domestic product to expand by 2.8% this year, compared with 3.3% last year. The country depends heavily on manufacturing exports to the U.S., which have slowed due to the U.S. downturn. More than 21 million tourists visited Mexico in 2007, but the figure was only a very slight increase on the previous year. The country is keen to draw in as many tourist dollars as possible after its current account deficit rose to 0.8% of gross domestic product last year, from 0.2% of GDP in 2006. Tourism accounted for 4.9 percent of Mexico's economy in 2007, according to a report by the World Economic Forum...

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