LIMA - Peru will not require Mexican visitors to secure a visa to visit the South American nation, officials said on Wednesday, in a reversal after insisting last week it would match Mexico's newly-approved visa requirement for Peruvian visitors.

In a statement, Peru's foreign ministry pointed to pressure from the country's key hospitality sector for the government's about face. Local tourist trade group Apotur has estimated that a visa requirement for Mexican visitors could trigger some $250 million in losses.

The visa rule for Mexican nationals had been set to take effect on April 22.

Late last week, Mexico's government announced it will require a visa application for Peruvian nationals seeking to enter Mexican territory, amid a recent surge of largely U.S.-bound migrants from the South American country.

The Mexican measure is set to take effect at the end of next week, according to the announcement in the government's official gazette. REUTERS