Latin America Travel & Tourism Market Size & Forecast 2033

Latin America Travel & Tourism Market Size, Share, Trends and Forecast by Type, Service Offering, Purpose of Visit, Booking Type, and Country, 2025-2033

Report Format: PDF+Excel | Report ID: SR112025A28778

Latin America Travel & Tourism Market Overview:

The Latin America travel & tourism market size reached USD 41.28 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 70.33 Billion by 2033, exhibiting a growth rate (CAGR) of 6.10% during 2025-2033. The inflating disposable income levels, increased international and domestic tourism, improved infrastructure, rising digital connectivity, expanding hotel networks, government initiatives promoting tourism, and a growing interest in cultural and adventure tourism are some of the major factors positively impacting Latin America travel & tourism market share.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 41.28 Billion
Market Forecast in 2033	USD 70.33 Billion
Market Growth Rate (2025-2033)	6.10%

Latin America Travel & Tourism Market Trends:

Growth of International Tourism in Latin America

International tourism in Latin America is experiencing a notable resurgence in tourism as the region is becoming an increasingly attractive destination for global travelers. An increased safety profile, prosperous regional economies, and greater air links are some factors positively influencing Latin America travel & tourism market outlook. Mexico, Brazil, and Peru continue to attract visitors for their rich cultural heritage, historical landmarks, and timely ecosystems. Industry reports indicate that Brazil received USD 7.3 Billion from overseas visitors to its economy in 2024, marking the largest influx in 15 years. This rise in tourism revenue reflects strong global interest in Brazil as a popular travel destination. Moreover, Mexico maintained its position as one of the top destinations for tourists due to its proximity and ease of access. Meanwhile, countries like Colombia and Argentina have seen an influx of visitors from Europe and Asia, drawn by both leisure and business opportunities. Latin America's diverse offerings, from the beaches to the ancient ruins of Machu Picchu, attract tourists seeking both relaxation and adventure. Ongoing investment in infrastructure will further facilitate the region's fast-growing international tourism market as travelers increasingly demand unique and immersive experiences.

Increasing Government Support and Policy Initiatives

Governments across Latin America increasingly recognizes the tourism sector as a vital part of their economies, which is leading to the implementation of enhanced policy initiatives aimed at supporting the industry. In response to the pandemic's severe impact, several governments introduced financial relief packages, tax incentives, and stimulus programs to support tourism businesses, including hotels, airlines, and tour operators. Long-term strategies are also being implemented, such as investments in infrastructure and marketing campaigns. The respective governments further place heavy investments that will enhance connectivity and the overall travel experience. For instance, an industry report indicates that in 2025, the Brazilian federal government plans a landmark investment of USD 10.6 Million under its international tourism acceleration program (ITAP), to create at least an additional 500,000 seats on foreign flights. Other than these government investments, private companies are also engrossed in improving transportation with better digital services or products for tourism with prospects of enhancing competitiveness and resilience within the industry. The government support will be of integral importance for the Latin America travel & tourism market growth and enhancement of the region's status as one of the prime tourism destinations worldwide.

Latin America Travel & Tourism Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region/country level for 2025-2033. Our report has categorized the market based on type, service offering, purpose of visit and booking type.

Type Insights:

Latin America Travel & Tourism Market

Domestic
Inbound
Outbound

The report has provided a detailed breakup and analysis of the market based on the type. This includes domestic, inbound, and outbound.

Service Offering Insights:

Ticket Reservation
Hotel Booking
Holiday/Tour Packages
Others

A detailed breakup and analysis of the market based on the service offering have also been provided in the report. This includes ticket reservation, hotel booking, holiday/tour packages, and others.

Purpose of Visit Insights:

Business
Leisure and Recreation
Education
Medical
Social Activity
Others

The report has provided a detailed breakup and analysis of the market based on the purpose of visit. This includes business, leisure and recreation, education, medical, social activity, and others.

Booking Type Insights:

Travel Companies
Travel Agencies
Online
Others

A detailed breakup and analysis of the market based on the booking type have also been provided in the report. This includes travel companies, travel agencies, online, and others.

Country Insights:

Brazil
Mexico
Argentina
Colombia
Chile
Peru
Others

The report has also provided a comprehensive analysis of all the major regional markets, which include Brazil, Mexico, Argentina, Colombia, Chile, Peru, and others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Latin America Travel & Tourism Market News:

May 17, 2024: Peru is constructing a 22-mile paved road from Santa María to a hydroelectric plant near Machu Picchu, aiming to reduce travel time to the historic site from four to five hours to just two hours. The USD 90 Million project, managed by Provías Nacional and awarded to China Civil Engineering Construction Corp., includes two asphalt lanes, six new bridges, and extensive retaining structures to navigate the challenging terrain. The initiative is expected to enhance tourism and benefit local communities by improving market access and transportation.
August 28, 2024: Hilton announced plans to enter the Latin American market with a dual-branded project comprising Hilton Georgetown and DoubleTree Suites by Hilton Georgetown, totalling 411 rooms. This development, in partnership with Assets Group, will be part of an oceanfront, mixed-use complex in Georgetown, enhancing Hilton's presence in the Caribbean and Latin America, where it currently operates over 225 hotels.

Latin America Travel & Tourism Market Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Scope of the Report	Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment: Type Service Offering Purpose of Visit Booking Type Country
Types Covered	Domestic, Inbound, Outbound.
Service Offerings Covered	Ticket Reservation, Hotel Booking, Holiday/Tour Packages, Others.
Purpose of Visits Covered	Business, Leisure and Recreation, Education, Medical, Social Activity, Others.
Booking Types Covered	Travel Companies, Travel Agencies, Online, Others
Countries Covered	Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

How has the Latin America travel & tourism market performed so far and how will it perform in the coming years?
What is the breakup of the Latin America travel & tourism market on the basis of type?
What is the breakup of the Latin America travel & tourism market on the basis of service offering?
What is the breakup of the Latin America travel & tourism market on the basis of purpose of visit?
What is the breakup of the Latin America travel & tourism market on the basis of booking type?
What is the breakup of the Latin America travel & tourism market on the basis of country?
What are the various stages in the value chain of the Latin America travel & tourism market?
What are the key driving factors and challenges in the Latin America travel & tourism market?
What is the structure of the Latin America travel & tourism market and who are the key players?
What is the degree of competition in the Latin America travel & tourism market?

Key Benefits for Stakeholders:

IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Latin America travel & tourism market from 2019-2033.
The research report provides the latest information on the market drivers, challenges, and opportunities in the Latin America travel & tourism market.
Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Latin America travel & tourism industry and its attractiveness.
Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

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