Peru’s Tourism Revenue Set to Soar to $23 Billion by 2025

Projected Growth of Peru’s Tourism Sector

The tourism sector in Peru is anticipated to see significant growth, with projections indicating a contribution of over $23 billion to the national economy by the year 2025. This reflects an increase of 6.9% from the previous year, meaning the sector is set to account for approximately 7.8% of Peru’s Gross Domestic Product (GDP).

Job Creation and Economic Impact

According to the World Travel & Tourism Council (WTTC) and Oxford Economics, the tourism industry will support approximately 1.17 million jobs by 2025, equating to nearly 6.6% of the total employment in Peru. This represents an impressive increase of 8.4% in employment compared to 2019 levels, showcasing how pivotal tourism is to the national economy.

Domestic vs. International Tourism Spending

By the close of 2025, domestic tourism spending is projected to reach $12 billion, demonstrating a growth of 6.5% year-on-year. Additionally, international tourism is set to generate over $5 billion, a substantial increase of 9.4% from the previous year, highlighting the sector’s resilience and attractiveness.

Past Performance of the Tourism Sector

In 2024, the tourism sector in Peru contributed $21.6 billion to the national economy, accounting for 7.5% of GDP. The sector supported about 1.11 million jobs or 6.4% of total employment. International spending reached around $4.7 billion, nearly a 22% increase as compared to the prior year, while domestic tourism spending reached $11.4 billion, marking a year-on-year growth of over 9%.

Leisure Travel Trends

Leisure travel comprised more than 86% of total tourism spending in 2024, with business travel making up 13.8%. The primary sources of international tourists were found to be Chile, at 25%, followed by the United States at 18%, and Ecuador at 8%.

Long-term Projections for Tourism

Looking ahead to 2035, the WTTC forecasts the travel and tourism sector in Peru will contribute up to $34.3 billion to the national economy, edging up to 8.5% of GDP. Employment in the sector is expected to expand to approximately 1.4 million jobs, with an estimated creation of 278,500 new positions over the coming decade.

Future Spending Expectations

• International visitor spending: Expected to reach $9.4 billion by 2035.
• Domestic spending: Anticipated to exceed $16 billion.

This upward trend reinforces the perception of tourism as a linchpin of economic performance and job creation in Peru.

Regional Travel and Tourism Impact

In 2024, the combined travel and tourism sector in Central and South America contributed approximately $358.7 billion to GDP, accounting for 7.5% of the regional economy. Employment within the sector reached around 17.5 million jobs, or 8% of total regional employment, marking a year-on-year increase of 4.4%.

Regional Growth Forecasts

The WTTC anticipates that by 2025 the regional travel and tourism sector will contribute $372 billion to GDP, translating to 7.6% of the economic landscape, with employment expected to rise to around 18.2 million jobs.

The Road Ahead for Peru’s Tourism

Peru’s tourism sector not only holds promise for national economic growth but also reflects a broader trend of increasing investment and job creation within the South American region. As tourism expands, reliable transportation will play a critical role in facilitating growth, enhancing access to destinations, and improving visitor experiences.

To wrap it up, these projections illuminate how integral tourism will be to Peru’s economy. The nation’s tourism sector, driven by both domestic and international spending, is set on a robust growth trajectory. With efficient transport solutions like GetTransfer.com offering personalized booking options, travelers can explore Peru’s rich cultural landscape with ease and confidence. Ensuring you have a reliable taxi and transfer option can turn any trip into a memorable experience. Therefore, for travelers planning their next adventure, the accessibility and affordability of tailored transportation services like GetTransfer are invaluable. Get ahead of the curve and explore the unbeatable deals on personalized transfers, trips, and deliveries to kickstart your next journey. Book your Ride to experience the wonders of travel effortlessly with GetTransfer.com.