Region:
America
Category:
Tourism

The WTTC revealed that Latin America reports significant growth in international visitors

  • The WTTC revealed that Latin America reports significant growth in international visitors
    The WTTC revealed that Latin America reports significant growth in international visitors
Region:
America
Category:
Tourism
Publication date:
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Julia Simpson, President and CEO of WTTC, stated: "Latin America's commitment to travel and tourism is not only reflected in positive data but also in the efforts of the public and private sectors to drive sector growth."

The World Travel & Tourism Council (WTTC), in collaboration with ForwardKeys, has released the results of the latest analysis on travel trends, revealing that Latin America is experiencing growth in the reception of international visitors, surpassing the peak levels recorded in 2019.

During FITUR, the leading Travel and Tourism event held in Madrid, WTTC presented the latest data on reservations and international arrivals, showing a highly positive outlook for the Latin American market.

In this analysis, ForwardKeys, a strategic partner of WTTC and a leading Spanish company in travel data and analysis, highlighted a clear increase in the arrival of international travelers.

According to the data, Latin America is expected to receive 12% more international visitors during the first half of the year compared to the same period in 2019.

The analysis reveals that the main destinations in the region include El Salvador, with an estimated growth of 157% in arrivals for the first half of this year compared to the same period in 2019; Nicaragua (142%), Guatemala (52%), Honduras (49%), Costa Rica (35%), Mexico (31%), and Colombia (23%).

The increase in demand has been reflected in an increase in passenger capacity by airlines, with the number of seats during the first half of this year exceeding 2019 levels by 16%, reaching 62.3 million seats.

Additionally, the research reveals that the airports with the highest passenger mobility in the region are: Cancun, which is expected to experience an estimated 45% increase in international passengers during the first half of this year compared to the same period in 2019, representing 6.8 million passengers; Panama, with 5.5 million passengers, and Mexico City, with 5.2 million during the first half of the current year.

Moreover, the study identifies the most important source markets for the Latin American region, including the United States, Canada, Mexico, Spain, and Germany.

Julia Simpson, President and CEO of WTTC, stated: "Latin America's commitment to travel and tourism is not only reflected in positive data but also in the efforts of the public and private sectors to drive sector growth."

"The region will experience an impressive 12% increase in international visitor arrivals during the first half of this year, surpassing the peak levels of 2019. This underscores the crucial role that Latin America plays in the global tourism landscape, marking a milestone in its growth and reaffirming its appeal to international travelers."

Olivier Ponti, Vice President of Insights at ForwardKeys, adds: "Latin America is experiencing extraordinary growth in international visitor arrivals, reflecting not only the commitment of local governments to the sector but also the joint effort with the private sector to drive tourism growth in the region."

"The ability to anticipate and understand travel trends has allowed these destinations to adapt their strategies effectively, attracting travelers and extending their stays. This data-centric approach not only drives tourism growth but also creates significant opportunities for visitor spending in the region."

The analysis indicates that nearly 70% of travelers will have medium-length stays in LATAM (ranging from 4 to 13 nights), while short and long stays represent smaller percentages among travelers, 7% and 23%, respectively.

This means that travelers are staying longer in Latin American destinations, presenting a significant opportunity for visitor spending in the region.

According to CoStar data, occupancy rates in LATAM (including Mexico and the Caribbean) increased from 58.7% in 2022 to 61.2% in 2023, representing a 4.4% jump. Compared to 2019, occupancy rates increased by 2.3%, with the 2019 occupancy rate being 59.8%.