The state of Michoacán, one of the states with the lowest economic development in Mexico, has been historically recognized because of its potential for tourism activities. The revenues coming from this economic sector, as well as the number of tourists who visit this state have significantly increased during the last few years. A survey was conducted on tourists who visited Michoacán, in order to determine the visitors' profile and their satisfaction levels during their visit. A cluster analysis was then used to categorize the lifestyle of these tourists into five different segments, to be able to develop the best tourism products, marketing strategies and aid the decision‐making process of government and private organizations related to this sector. A regression analysis was also performed to identify the variables that determine the satisfaction of these tourists. The results are satisfactory in the sense that the actions taken, which were based on this research and led by the Ministry of Tourism of Michoacán and the Ministry of Tourism of Mexico, have attracted more national and international groups, and have also increased the revenues, profits and new investments reported by private organizations related to this economic sector.