Published on : Thursday, November 30, 2017
Santiago accounts for about half of Chile´s Travel & Tourism activity (48.9%), a total US$3.9bn. The reason is because Chile´s capital city is an important hub for domestic and international flights, as per a new 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 measures the contribution of Travel & Tourism to city economies and job creation. The study covers 65 cities, six of which are in Latin America.
Although the tourism sector´s importance to Santiago´s economy has become better since 2006, its share of overall city GDP is relatively low compared to other cities. The reason behind this is that the city relies heavily on other industries like clothing production and copper mining.
Travel & Tourism GDP in Santiago has seen 7.5% growth over the past decade and the trend is set to continue. Over 110,000 jobs in the capital, 3.3% of all employment in Santiago are directly attributed to Travel & Tourism.
Looking beyond the capital, the total contribution of Chile´s Travel & Tourism to GDP was CLP16,852.1bn (US$24.9bn), 10.1% of GDP in 2016. Over the next ten years, 160,500 new jobs are expected to be created through Travel & Tourism activity across the country.