Travel and Tourism in Latin America and the Caribbean
A New Chapter for Travel & Tourism in Latin America
A new partnership between the World Travel & Tourism Council (WTTC) and the Inter-American Development Bank (IDB) shines a brighter light on the travel and tourism sector in Latin America and the Caribbean (LAC). The newly formed Tourism Task Force aims to make travel an important engine for economic growth and job creation in the region.
What the Task Force Will Do
Throughout 2025, the Task Force will meet to develop policy recommendations and investment strategies. The results will be presented at the CEO Summit of the Americas in Punta Cana by the end of the year, creating a framework for regional cooperation in travel and tourism.
How Travel & Tourism Fuels Economies
In 2024, travel and tourism contributed a massive USD 714 billion to the LAC economy, about 10% of the region's total GDP, according to the WTTC. The sector also supports about 28.2 million jobs, or nearly one in eleven in LAC. International visitors spent USD 144.4 billion last year, making tourism a major source of export income for many countries.
What Experts Are Saying
Christopher Imbsen, WTTC's VP of Policy, believes that travel and tourism are a powerful tool for inclusive growth in the region: “The region has a generational opportunity to put travel and tourism at the core of its developmental agenda.” Fabrizio Opertti, IDB Sector Manager, noted that the launch marks a milestone in integrating tourism into the region's economic strategies.
The Future: Projections for 2035
By 2035, the travel and tourism industry could contribute about USD 944.8 billion to the LAC economy and provide over 35.4 million jobs. That's an extra USD 206 billion in economic value and around 6 million new jobs, showing how scalable the sector is.
What's Needed for Growth
The WTTC has identified five key things needed for sustainable tourism growth:
- Talent and Employment
- Resilient Infrastructure & Connectivity
- Digital Transformation
- Business Environment
- Access to Finance
However, tourism investment in LAC often lags behind global levels. To fix this, the region needs to create a more investment-friendly environment through reforms and better public-private collaboration.
The Tourism Task Force: A Driver for Development
The Task Force offers a chance to integrate travel and tourism into long-term economic strategies in LAC. Prioritizing tourism can boost job creation and build a stronger foundation for growth.
The Importance of Investment
Investment is key. Without enough funding, these initiatives will remain just ideas. Securing investments will be to seeing real changes in the region's tourism sector.
Final Thoughts
The travel and tourism sector is an important element for economic revitalization in LAC. With the right strategies and support, investments in this area should bring big benefits to local communities and economies.
When you're planning your trip, consider booking airport transfers ahead of time. This can often save you time and money compared to taxis or public transport. Honestly, after a long flight, the last thing I want to do is haggle with a taxi driver.
