LATAM's tourism sector set to add $260 billion to the economy by 2034

09-07-24

The World Travel & Tourism Council (WTTC), in collaboration with VFS Global, has revealed promising prospects for the Latin American (LATAM) Travel & Tourism sector.

According to the report, "Unlocking Opportunities for Travel & Tourism Growth in LATAM," the sector could add nearly US$260 billion to the region’s economy and create almost eight million new jobs over the next decade.

This potential growth is hinged on three key policy actions that could unlock annualized growth of 3.4%, bringing the sector's total contribution to nearly US$909.2 billion. The report emphasizes the importance of improving transport infrastructure, visa facilitation, and tourism marketing as central strategies for achieving this growth.