Post-Pandemic Tourism in Latin America Is Facing a Reset

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May 26. No economic sector has been harder hit in Latin America and the Caribbean by the pandemic than tourism. This sector had become critical to the region’s economy not only for the Caribbean islands, but also for some of the medium and large countries in the region.

The spread of democracy in the region over the past quarter century accompanied a growing prosperity in the population, less crime, and some smart investments in experiential tourism.

Twenty-five years ago, tourism in Latin America was synonymous with surf, sand and sun mostly offered by resorts in the Caribbean and Mexico. Today, nobody is surprised when friends describe their culinary holidays in Lima, the delights of Colombia’s ancient Cartagena, walking through the high muds of Brazil’s Pantanal or the dry Atacama in Chile. In 2019 alone, tourism was responsible for generating $299 billion in Latin America and close to $59 billion in the Caribbean, significantly growing the sector’s contribution from 2010.

In 2020, when the pandemic hit, tourism-related GDP in Latin America dropped by $52.8 billion and $26.4 in the Caribbean. Tourism employment was reduced by about 24% in both Latin America and the Caribbean.

Now that COVID-19 is subsiding and world travel is slowly returning to normal, tourism in the region will play a key role in supporting local economies, and some positive signs about the sector are beginning to emerge.

Source: Brink News

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125580cookie-checkPost-Pandemic Tourism in Latin America Is Facing a Reset