The travel and tourism sector in Latin America is projected to contribute $385.9 billion to the region’s GDP by 2024, marking a 6 percent growth compared to pre-pandemic levels in 2019. This projection comes from the World Travel and Tourism Council (WTTC) in collaboration with Oxford Economics. By the end of 2023, the sector is estimated to provide 18.2 million jobs, with one in every 12 jobs in the region being in travel and tourism.
Looking ahead, the WTTC study predicts that by 2034, the travel and tourism sector will contribute $498 billion to the region’s economy, representing 8.3 percent of the GDP. Employment opportunities will also increase, with an estimated 22 million people being employed by the sector, making up 9.6 percent of the Latin American workforce.
The sector has been a key driver of economic recovery in Latin America since it was hit hard by
