LATAM e-News – August 2018
Arturo García Rosa
President & Founder, SAHIC
Tourism in South America keeps on growing above world average
The data reviewed by WTO (World Tourism Organization) by the end of the first four-month period of this year, show that the tourism growth perspective in a global level has grown from 4 to 6%, 50% more of what was projected by the end of 2017.
Last year, worldwide growth was 4.2%, while for South America was 7%, highly above that average.
In order that this could happen, there have been destinations that contributed in a special way to this growth.
Colombia in first place (28.3%), Argentina (21.5%), Chile (16%), Uruguay (18,4%) and Paraguay (21,1%), in that order, guided the course.
It is worth mentioning that although percentages of Uruguay and Paraguay are higher than those of Chile, it is important to note that their participation in the regional pie is considerably lower than Chile’s, which is easily exposed in the following chart:
|Country||Tourists Arrivals 2017 (in thousands)||Growth compared to 2016|
So far this 2018, some issues that we announced on the occasion of the meeting of SAHIC 2017 in Buenos Aires, begin to confirm.
Colombia continues its path of growth, confirming that it pretends to challenge the leadership that historically had Brazil and Argentina.
Chile and Uruguay start to feel the dependence of the Argentinean market, with the difference that in the case of Chile, the market’s maturity seems to compensate, in part the decline of the Argentinean demand, so that, although it will remain downwards, it doesn’t seem that would be dramatic. Different will be the case of Uruguay, highly dependent on Argentinean demand and, with little capacity of replacing it with tourists from other origins.
Ecuador and Paraguay continue in a path of growth similar to 2017.
Finally, Peru although under 2017, it continues to grow.
A new edition of SAHIC South America is a few weeks away. Next September 24th and 25th in Medellin, we will have the chance to analyze in detail how the situation keeps on developing and what to expect of this 2018.
Everything points out that regional growth might repeat last year’s performance to show once again a growth above global average, that, as aforementioned, can be visualized around 6%, whereas we estimate that the region will place around 7.5 to 8%.
SAHIC will then be a good chance to confirm this projection, but above all to understand where the opportunities are.