South America Destination Tourism Insight Report including International Arrivals, Domestic Trips, Key Source / Origin Markets, Trends, Tourist Profiles, Spend Analysis, Key Infrastructure Projects and Attractions, Risks and Future Opportunities, 2022 Upd

South America Destination Tourism Insight Report including International Arrivals, Domestic Trips, Key Source / Origin Markets, Trends, Tourist Profiles, Spend Analysis, Key Infrastructure Projects and Attractions, Risks and Future Opportunities, 2022 Update

Summary

Analysis of destination markets, infrastructure and attractions, main and emerging source markets, as well as risks and opportunities in South America region. This report explores the types of travelers that visit the region as well as a SWOT analysis. Colombia, Chile and Pery are explored in more detail.

Key HighlightsPrior to COVID-19, inbound flows to the ten South America member countries were growing at a CAGR of 1.5% between 2016 and 2019, to reach 35 million international arrivals in 2019. Many factors had contributed to this notable growth, including South America’s cultural, heritage and natural attractions, sport and entertainment tourism, and geographic proximity to the US. Many South American countries are highly dependent on neighbouring regional countries to support their tourism economies. In 2019, arrivals from other South American countries accounted for 57.1% of international arrivals to the South America region, as inbound flows increased to 20 million in 2019 (CAGR 2016-19: 0.6%). Amid COVID-19 travel restrictions, Colombia overtook Brazil and Argentina to become the most visited South American destination in 2021. Prior to COVID-19, international arrivals to Colombia were growing at a Compound Annual Growth Rate (CAGR) of 8.5% between 2016 and 2019 to reach 4.1 million arrivals in 2019.Total inbound expenditure to the South America region has grown steadily, aligned with increased inbound visitation. Pre-COVID-19, total inbound spend reached a high of $30.4 billion (CAGR 2016-19: 1.7%). In 2020, total inbound expenditure declined by 72.7% YoY to $8.3 billion, before declining a further 58.8% YoY to $3.4 billion in 2021. As international travel resumes, total inbound spend will exceed 2019 levels to reach $34.1 billion by 2025 (CAGR 2022-25: 17.9%).ScopeThis report is part of GlobalData's Destination Market Insights Series. These reports provide an in-depth analysis of a tourist destination and its key source markets, as well as an assessment of the trends and issues in the covered destination market, in this case South America.Reasons to BuyObtain a clear and detailed insight into new developments in a burgeoning tourist destination.Use data and analysis to explore trends related to international arrivals and spending, tourism segments as well as construction, airlines and hotel developments.Gain a better understanding of the opportunities in the market, as well as the risks, to support better business decisions.