Consumers in Mexico will spend about 45.3 billion pesos (US$2.3 billion) this November to celebrate the Day of the Dead, as estimated by Octavio de la Torre, head of the National Confederation of Chambers of Commerce, Services and Tourism (Concanaco Services).
The estimate represents a 10% increase compared to last year, when more than 90% of Mexican families spent 41.2 billion pesos (US $2.1 billion) on holiday-related purchases. The spending was also driven by government spending and purchases related to Halloween, an increasingly popular holiday in Mexico.
De la Torre said 4.8 million family businesses will see increased revenue from the holiday.
Sectors that will benefit most include short-term accommodation, restaurants, travel agencies, transportation services, costume sales, candy stores, and public markets. The hotel industry alone, he said, would benefit from an estimated economic income of 4.2 billion pesos (US$200 million), with an occupancy rate of more than 60%.
Where do the biggest Day of the Dead events take place?
According to Concanaco, Michoacán and Mexico City will host some of the country’s most popular celebrations.
In the capital, events include the Day of the Dead parade along the Paseo de la Reforma, which last year attracted more than 1.2 million people, and the Alumbrada in the eastern region of Mixquic, which drew more than 120,000 visitors.
Meanwhile, the state of Michoacán, known for its deeply preserved Day of the Dead traditions, is expecting thousands of visitors to come to watch its annual canoe parade over Lake Pátzcuaro and the lit altar on the lake’s Janitzio Island.
“There are many traditional activities carried out in this country, and some regions are more prominent than others, so we invite all chambers of commerce, services and tourism to participate in the Day of the Dead celebrations,” de la Torre stressed.
What is Day of the Dead?
Día de Muertos, or Day of the Dead, is one of Mexico’s most revered traditions, where people honor the dead through several rituals and ceremonies. He following the native belief that the dead would return to Earth temporarily between November 1st and 2nd.
Although the origins of this holiday can be traced back to pre-Columbian civilizations, the party we celebrate today is a mix of Indigenous beliefs and Christian traditions unique to Mexico.
With reports from Millennials
