Tourism is booming: Latin America travel trends revealed
Travel to Latin America is continuing to grow 3.3% in the initial three quarters of 2019 and forward bookings for the Q4 are 4.0% before where these were by the end of Q3 this past year.
Trends were revealed at a panel discussion that occurred at World Travel Market, London, moderated by journalist Jeremy Skidmore and featuring Colin Stewart; chairman of LATA, Olivier Ponti, Vice President of Insights at ForwardKeys and country representatives: María Amalia Revelo Raventós; Minister of Tourism of Costa Rica, Anasha Campbell Lewis; Minister of Tourism of Nicaragua, and Felipe Uribe; Chief Marketing Officer at Chile´s tourism board.
The data indicated that the biggest source market for flights to Latin American countries, is THE UNITED STATES, representing 43% of arrivals in the time 1st Jan – 30th Sep. From there, arrivals were 7 up.0% in the initial nine months of the entire year and forward bookings for Q4 are 6.0% ahead. The next most significant source market, with 32% share, is Latin American countries themselves. In the initial nine months, arrivals from Latin America were down 1.2% and Q4 bookings are effectively flat from the continent, 0 just.1% ahead. The 3rd major source market is Europe, with 22% share. European arrivals were 2 up.1% in the initial nine months and Q4 bookings are 5.1% ahead. Travel from Asia Pacific, with a 2% share, and Africa & the center East, with a 1% share, is showing impressive growth numbers, up 9.1% and 33.0% respectively for the initial nine months and ahead 10.1% and 29.2% respectively for Q4.
Looking at the uk specifically, air reservation data during the last 12 months (until 30 September 2019), shows a 1.2% reduction in total air arrivals in Latin America from the united kingdom when compared to same period the prior year. However, in comparison, total international arrivals from the united kingdom to all of those other global world have dropped by 1.6% through the same period – highlighting the resilience of the Latin American travel market.
One main factor is the overall economy in Argentina which includes resulted in a decline in the worthiness of its currency, the Argentinian peso, making the destination exceptional value for visitors, but travel a lot more expensive because of its citizens abroad. As Argentina is really a major source market for other countries in your community, a fall has been suffered by them in arrivals.
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Looking at forward bookings for Q4 of 2019 (period Oct – Dec), the info indicates a 4% y.o.y upsurge in global bookings to Latin America. Key growth countries include Nicaragua (+98.3%); albeit from the small baseline, Chile (+13.2%) and Panama (+13.1%). Forward bookings to Costa Rica may also be up (+11.3%).
Looking at Nicaragua specifically, despite impressive tourism growth in 2017, in 2018 a lot of Nicaragua’s main markets enforced stringent travel advice following in-country protests having a significant effect on the country’s travel industry. To the protests prior, arrivals were up 5.1% y.o.y and bookings were 7 up.0%. However, the entire year that followed in, arrivals in Nicaragua fell by nearly 60%. Recovery underway is now, with arrivals and bookings in the time May-Sep 2019 being up dramatically, year when compared to volumes registered in the same period the prior. This recovery has been supported by LATA’s campaign directed at the united kingdom travel industry entitled #NicaraguaIsopen and encompassing a variety of promotional actions.
Much, domestic unrest has impacted Ecuador. The data implies that despite a short-term impact, the protests stopped once, bookings quickly recovered very. The protests also had some short-term effect on other Latin American countries, Columbia, Peru and panama.
In the case of Chile, the united states happens to be experiencing protests in Santiago that could have a short-term effect on visitor numbers. However, the aforementioned examples show the ‘bouncebackability’ of destinations in Latin America. Felipe Uribe, chief marketing officer for the Chile Tourism Board said: “While you can find protests in central elements of Santiago currently, much of the town and all of those other country is unaffected and folks can continue making use of their travel plans as normal.”