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Latin American tourism is one of the supports for the development of the region: it has the great potential to boost trade, improve infrastructure, help adapt to climate change and generate more quality jobs, but we need to polish its gears, sometimes artisanal and other industrial forms, to make it a true engine of growth and inclusion, and so that it can compete with more guarantees with other world-class destinations.
Before the pandemic, in 2019, the tourism economy, which includes all sectors that orbit around the reception of travelers, represented around 26% of total GDP in the Caribbean and 10% in Latin America.
In 2024 we will be close to exceeding these figures.
The great mark that the sector leaves on thousands of families and communities, in large cities and small towns, and on the economic balances of the countries, is crossed by the usual problems of the development of the region (informality, low productivity and competitiveness, impacts of climate change, poor infrastructure).
Therefore, it is essential that we approach the tourism sector from a perspective that integrates infrastructure, the environment, innovation, competitiveness, community empowerment, and project financing.
This is the approach that CAF-development bank of Latin America and the Caribbean is taking to Fitur 2024, the main tourism fair in the Hispanic world.
At Fitur 2024 we will present a new strategy that will contribute to redefining the region's tourism panorama.
One of its cornerstones is the improvement of infrastructure and increased connectivity between destinations;
two essential elements to increase competitiveness in global tourist circuits.
In addition, the strategy will focus on raising new financial resources and will integrate green and innovative components to develop projects in different countries in the region.
The technology applied to tourism and the reduction and compensation of the carbon footprint left by tourists will also be the subject of CAF's presence.
To consolidate world-class destinations, Latin America and the Caribbean start from a good position.
In addition to having unparalleled natural landscapes - let's not forget that being 15% of the territory we have 40% of the planet's biodiversity - and cultural riches that represent juicy tourist attractions, the countries of the region have been gradually recovering from the impacts of the pandemic, and we have practically reached, as a region, and in some countries surpassed, the influx of travelers of 2019.
According to the World Tourism Organization (UNWTO), 975 million tourists traveled internationally between January and September 2023, which represents an increase of 38% compared to the same months in 2022. Destinations in the Americas reached 88% of the 2019 figures, especially thanks to American demand, mainly in the Caribbean.
This situation, calmer than in the pandemic, forces us to focus on how to further enhance the Latin American and Caribbean tourism sector.
Firstly, it is imperative that we strengthen the focus on sustainability.
This is key to minimizing the environmental impact of travel and the carbon footprint of tourism experiences, and to promote responsible tourism practices.
The good news is that, for some years now, sustainability has been strongly entering the table of those planning tourism development in Latin America and the Caribbean.
Connectivity is also key to offering top-level tourist experiences.
Therefore, it is essential that we carry out new aeronautical connectivity projects to more efficiently link, for example, the Caribbean islands, or build better infrastructure to improve mobility in cities and access to remote areas.
Another important component is technological innovation.
We need to adopt digital technologies and innovative solutions to transform the promotion and management of tourist destinations in the region.
For example, in a predominantly digital economy, online reservation platforms must be not only promotional but also reservation and sales platforms, linking with agencies and operators.
Proximity tourism and the so-called
slow tourism
are other trends that Latin America and the Caribbean could capitalize on, thanks to their unparalleled natural ecosystems, the ancient wisdom of their communities, their crafts, their cultures and the increasingly ease greater access to nearby tourist circuits.
The region is well positioned for tourism to shine even more in global circuits.
This would help us overcome our historical development challenges, and would help our tourist destinations and their experiences compete with the major players in global tourism.
Óscar Rueda García
is Director of Tourism at CAF-development bank of Latin America and the Caribbean.