Tourism has established itself as an essential sector in the economy of Latin America, a region rich in cultural diversity, natural resources and historical heritage. Iconic destinations such as Machu Picchu, the beaches of Cancun and the Amazon attract millions of international tourists, contributing significantly to economic and social development. According to the World Travel and Tourism Council, this sector represents 7.9% of the regional economy and will generate more than 17 million jobs in 2024.
In this context, the OBS Business School published a study entitled “Evolution and challenges of the tourism sector in Latin America”, under the direction of Professor Alberto Guivernau. This report analyzes the evolution of tourism in the region, the most popular destinations, its economic impact and the challenges it faces.
Impact of tourism on employment
In 2022, tourism in Latin America created nearly 16.4 million jobs, accounting for 7.7% of total employment in the region. Despite the serious losses caused by the pandemic, the joint efforts of governments and the private sector have allowed the region to regain its tourist attractiveness. Tourism is expected to grow by 13% by 2024, with notable increases in countries such as Chile, Peru and the Dominican Republic.
Travelers appreciate extended stays; 70% stay between 4 and 13 nights, offering an excellent opportunity to enjoy the local wonders. Improving the tourist experience also means bringing benefits to local communities. Guivernau points out that GDP growth in countries like Peru and Colombia has driven improvements in tourism infrastructure, making it easier to access remote destinations.
Colombia as an emerging destination
Colombia has emerged as a popular tourist destination over the past decade. Cities like Cartagena and Medellín have seen an increase in tourism thanks to improved security and international promotion. In 2023, Colombia received 5.86 million visitors, generating a positive GDP impact of $3.8 billion.
Challenges and opportunities for tourism
To continue moving forward, it is essential to address several challenges:
- Infrastructure: Many destinations do not have the necessary structures to manage tourist flows in a sustainable way.
- Sustainability: Implementing sustainable tourism practices is critical, even if it presents challenges such as the need for funding and local resistance.
- Safety: Violence remains a concern, but countries like Mexico and Colombia are implementing strategies to improve it.
- Public Administration: Effective policies are essential to foster the growth and sustainability of tourism.
- Technology and innovation: Digital platforms have transformed tourism promotion and management, making travel planning easier.
- Social impact: Tourism can improve quality of life, but it can also cause gentrification and loss of cultural identity.
According to Guivernau, tourism in Latin America has grown impressively and is essential for many economies. If challenges are addressed and effective strategies are implemented, the region will be able to exploit its tourism potential, offering visitors a variety of unique and beautiful destinations.