Latin America’s Tourism to Boost Economy by $260BN

The travel and tourism sector in Latin America is on the brink of a major growth surge. According to recent data from the World Travel & Tourism Council (WTTC), Latin America’s economy could see a significant boost of $260 billion over the next decade, all fueled by a growing influx of international and domestic tourists. With the right investments and policies, this industry could become one of the most powerful engines driving the region’s sustainable economic development.

The Rise of Latin America’s Tourism Industry

The global tourism industry has been gradually recovering since the COVID-19 pandemic, and Latin America is expected to be one of the key regions fueling this rebound. The WTTC predicts that by 2033, the region’s travel and tourism sector will contribute up to 9.6% of Latin America’s Gross Domestic Product (GDP) in contrast to the 7.7% it contributed in 2019.

Key drivers of this growth include:

• Increased accessibility through improved air connectivity and digital booking platforms
• Government support through sustainable tourism initiatives and infrastructure development
• Changing traveler preferences towards eco-tourism, culture, and adventure-based holidays
• Rising middle-class income within Latin American countries, boosting regional travel

Top Performing Countries: Who’s Leading the Charge?

Some Latin American countries are outperforming others in tourism development. The top destinations projected to drive regional growth over the next decade include:

• Mexico: Already a powerhouse in Latin tourism, with strong demand from the U.S. and Canada
• Brazil: Positioned as a leader in eco-tourism and rich cultural heritage
• Colombia: Rapidly climbing as a favorite for its natural wonders and improved security
• Chile and Costa Rica: Known for biodiversity and sustainable tourism initiatives
• Peru: Home to iconic sights like Machu Picchu and a growing culinary tourism scene

These countries are developing strategic campaigns to attract international tourists while also investing in domestic tourism infrastructure, contributing to more equitable growth across regions.

Investment Opportunities: A Region Ripe for Growth

As Latin America’s travel and tourism sector continues to expand, it presents a wide range of untapped business opportunities. Investors and entrepreneurs can explore potential in several areas of the value chain, such as:

• Hotel and accommodation development, especially in underexplored regions
• Ecotourism and adventure travel agencies catering to sustainability-focused travelers
• Tourism tech platforms like digital booking services, virtual tours, and mobile apps
• Transportation service upgrades including regional airlines and train services
• Cultural experience curation — connecting tourists with local traditions and lifestyles

This growth creates fertile ground for foreign direct investment (FDI), encouraging economic diversification and increasing employment opportunities across various sectors.

Job Creation & Social Impact

One of the most transformative aspects of tourism growth in Latin America is its potential to create jobs. WTTC’s forecast estimates that travel and tourism could generate as many as 17 million new jobs over the next ten years. This would bring the total number of jobs supported by the industry to an impressive 29.9 million — a substantial portion of the workforce.

These job opportunities are particularly valuable in remote and indigenous communities, where few other industries hold substantial presence. The