At a glance
Tourism contributes significantly to the region’s economy and packs an even bigger punch in small and island countries.
It generates one out of every 10 jobs and attracts approximately 5 percent of total investments. In 2017, Latin America and the Caribbean had over 112 million international tourist arrivals, compared with about 74 million in 2010. As the sector continues to expand at a robust pace, the industry will need new hospitality infrastructure to remain competitive and meet growing demand and evolving consumer preferences, including an appetite for environmentally friendly concepts and destinations that offer unique experiences.Read more
At IDB Invest, we are looking to expand the tourism agenda in the region because we know that the sector has a profound impact on development.
Tourism creates local jobs, especially for women and youth, and helps to develop a more qualified workforce. In addition to creating direct jobs, new hotels promote the local value chain by spurring indirect job growth among small and medium-sized companies that supply goods and services, as well as among other local businesses, including tour operators, travel agencies, amenity operators and local crafts vendors.Read more