With a forecasted compound annual growth rate (CAGR) of 4%, the South America tourism market, appreciated at US$ 320 billion in 2022, is likely to surpass US$ 473.68 billion in valuation by 2032.
Architectural masterpieces along with cultural diversity and many more factors are expected to increase the demand for South America tourism.
Tourism is one of those sectors which contributes to the GDP of not only a nation but an entire continent. There are countries across the world which are solely dependent on tourism for their economic growth. So, indeed tourism is necessary not only for tourists but for nations as well.
South America is one of the most underrated tourist destinations. It is the land of mesmerising nights and festivals. It is specifically known for its beautiful mountains, exotic landscape, lively beaches, glorious wildlife, waterfalls and plenty of other things.
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South America is composed of 12 independent nations and other dependent nations. Spanish is the most widely spoken language in South America, which is followed by Portuguese. English is the third most spoken language.
Generally, the climate in South America remains hot and humid. The climate tends to be highly volatile going further South.
What are the Current Market Dynamics about the South America Tourism Market?
From rainforests to archaeological sites, South America has it all to offer for all kinds of tourists. However, choosing just one vacation spot becomes a challenging task when the continent has so much to offer.
Argentina is believed to be one of the most attractive tourist destinations in South America. The country has a lot to offer, be it desert, jungles, or beaches. This is the country which keeps the tourists hooked.
Iguazu falls is located in the border of Brazil and Argentina. These are a part of UNESCO world heritage sites, and are one of the most majestic sites in the entire South America region. Visitors have the luxury of going closer to the Iguazu falls through the walkways.
Buenos Aires, which is the capital of Argentina, is one of the most lively and beautiful cities. One should make it a point to visit La Boca, where the Caminito Street Museum is located, which is meant for its brightly painted houses, cafes, and the brilliant tango dancers
Recoleta Cemetery is another must visit place in Beunos Aires, which is a mausoleum containing the remains of certain famous Argentinians, along with gardens, museums, and café.
For all those who want to venture into hiking, Tierra del Fuego national park is a must visit place. Apart from hiking, the park has plenty to offer ranging from waterfalls, dense forests, mountains, and elegant glacier fed lakes.
Puerto Madryn is another place in Argentina, which is famous for being a cruise destination. It is mainly meant for its rugged coast line, which is quite popular amongst the water sports enthusiasts.
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What is the Regional Outlook for the South America Tourism Market?
The South America tourism market size is expected to expand in the coming days. The countries that have been analysed are: Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Guyana, Paraguay, Peru, Suriname, Uruguay, and Venezuela.
Argentina is the most visited country in South America. Argentina is followed by Brazil. Chile is the third most visited country in South America.
Who are Some of the Key Players in the South America Tourism Market?
- Pentravel
- CVC Travel
- Thompsons
- Suretravel
- VIAJANET
- Hostelworld Group
- Harveyworld
- IGO Travel
- Computravel
- LuxuryAfrica
- Despegar.
After, more than two years, the focus for the South America tourism market remains to increase the footfall of the tourists and to revive the tourism sector to its glory, as the past two years have been relatively dry for the region.
South America’s Latam Airlines is working harder to emerge from restructuring during the second half of 2022.
- Despegar completes acquisition of VIAJANET in June 2022.
- Hostelworld group launches ‘The Solo System’, a set of social features enabling opt-in travellers to connect and meet in real life.
Key Segments Profiled in the South America Tourism Market Survey
By Booking Channel:
- Phone booking
- Online booking
- In person booking
By Consumer Orientation:
- Men
- Women
- Children
By Age group:
- 15-25 years
- 26-35 years
- 36-45 years
- 46-55 years
- 56-65 years
- 66-75 years
By Tour type:
- Independent traveller
- Tour Group
- Package Traveller
By Tourist Type:
- Domestic
- International
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