Buenos Aires generates more than half of Argentina’s travel and tourism GDP

Published on : Thursday, November 23, 2017

Buenos Aires ArgentinaBuenos Aires generates more than a half of Argentina´s Travel & Tourism GDP, according to a report by the World Travel & Tourism Council (WTTC), Latin America City Travel & Tourism Impact.

 
Latin America City Travel & Tourism Impact is one of a series of reports by WTTC which looks at the contribution of Travel & Tourism to city economies and job creation. The study covers 65 cities, six of which are in Latin America.

 
The Argentine capital’s Travel & Tourism sector accounts for 5.1% of its overall economy and totals US$11.1bn. The tourism sector employs 265,000 people in Buenos Aires, or 3.8% of the city´s workforce. Over a half of Argentina’s tourism GDP (59.1%) is in Buenos Aires, and the city is responsible for 46.3% of jobs in the sector in Argentina.

 
Domestic tourism constitutes a major portion of tourism in Buenos Aires, even though the weak Argentinian Peso has made the destination more affordable for foreign visitors in recent years. Overall domestic visitors account for 61% of Buenos Aires’ Travel & Tourism.

 
Over the past decade, the number of overnight visits has more than doubled although this has mainly been driven by the domestic market. Large volumes of additional international visitors are still not rampant for the city.

 
Slow international growth is partly due to the fact that Brazil, which is Buenos Aires’s top international market, has been suffering a recession in recent years.

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