Latin America Travel Market Report 2021-2025

Summary

With incredible variability, the Latin America travel market began recovery in 2021. The region has been on the upswing and the future appears promising. After losing more than half of its value in 2020, the region recuperated a healthy 51% to $35.2 billion in 2021. With one notable exception, local, domestic leisure travel buoyed the industry in most nations. In conjunction with strict border closures, runaway inflation and unfavorable exchange rates steered many travelers towards local and domestic trips.

International travel was varied in 2021, with each nation taking its own strategic maneuvers to balance economic and health concerns. A return to pre-pandemic gross bookings is anticipated by 2023, with the reopening of many destinations and upcoming elections boosting future prospects. 

This report provides market sizing, projections and key segment analysis for the Latin America travel industry through 2025, with a focus on Mexico, Brazil, Colombia, Chile and Argentina.