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Published on : Sunday, June 25, 2017
The report “Upcoming Tourism Destinations in South America: Flows & Spending in Argentina, Brazil, Chile, Colombia and Peru” gives the important insight on the promising South American tourism destinations. It encompasses domestic, inbound and outbound tourism inflow and spending. Also, it investigates the major trends, drivers and growth inhibitors.
South American economies have significant potential of growth. Although, Brazil and Argentina have struggled a lot in recent years. Nonetheless, Argentina is recovering its economic condition and growth is anticipated in the coming years with recent reforms and alterations in financial policy start to gain traction. Of all, Colombia has the most promising economy with an average annual rate of 4% real GDP growth up to 2025.
In the current scenario, countries like Brazil (recession) and Argentina (hyperinflation) have badly affected outbound tourism and benefitting domestic tourism. Also, weak exchange rates in the region make consumers price sensitive affecting outbound travel, chiefly to the US and Europe. Besides, the weak exchange rate caused rise of arrivals from the US and European countries like Spain, France, and Germany to South American countries. International arrivals grew the most (23%) in Chile in 2016.
Tags: south america