Latin America Travel Market Forecast by 2033

Market Size in 2024: USD 107.82 Billion
Market Forecast in 2033: USD 208.44 Billion
Market Growth Rate 2025-2033: 7.10%

The Latin America travel market reached USD 107.82 Billion in 2024 and is projected to grow to USD 208.44 Billion by 2033, expanding at a CAGR of 7.10% during 2025-2033. Growth is being fueled by rising disposable incomes, improved infrastructure, eco-tourism demand, and advancements in digital marketing that are reshaping how travelers explore the region.

Growth Drivers of the Latin America Travel Market

Eco-Tourism and Sustainable Travel

Latin American regions emerge as eco-tourism destinations because they have biodiversity and governments create pro-environment policies. For example, Costa Rica, Ecuador, and Brazil are investing within eco-lodges, conservation areas, and conservation programs in order to attract eco-tourism to their countries. In February 2024, the CAF and UN Tourism together challenged others to innovate green projects for supporting and promoting sustainable tourism throughout Latin America and the Caribbean. Thus, low-impact tourism crystallizes with sustainable products that aim to attract environmentally-friendly tourists looking to experience nature among authentic local communities.

Adventure and Experiential Tourism

Due to its varied geography, Latin America is among the epicenters of adventure tourism. Experiential tourism is on the rise instead of simple sightseeing. Sightseeing involves trekking in Patagonia. Sightseeing involves visiting Machu Picchu. Sightseeing involves diving in the Caribbean. Experiential tourism means cultures swap through cooking classes, locals host visitors, and communities give tours. From February 2025, MICE tourism throughout Latin America is growing, as foreign people seek modern settings and chances for local cultural immersion, revealing adventure and authenticity.

Advancements in Digital Marketing and Technology

Social media advertising, influencer marketing, and user generated content let travelers find and reserve adventures to Latin American countries and regions. Destinations can present landscapes and culture to a global audience through this. Along with booking engines, travel apps, and technology through virtual reality and augmented reality, these things ease travel planning for tourists. Orange 142 launched the Emerging Markets Council in January 2025. The council seeks to help small and medium-sized businesses in Mexico and Latin America. These businesses will use advanced digital marketing to ease the targeting of international customers. These innovations increased visibility in addition to travel demand throughout the region.

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Latin America Travel Market Segmentation

Analysis by Type

• Leisure Travel
• Business Travel
• Cruise
• Specialty/Activity/Sports
• VFR (Visiting Friends and Relatives)

Analysis by Age Group

• 21-30 Years
• 31-40 Years
• 41-60 Years
• 60 and Above

Analysis by Tourist Type

• Domestic
• International

Analysis by Country

• Brazil
• Mexico
• Argentina
• Colombia
• Chile
• Peru
• Others

Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Latin America Travel Market News

• November 2024: GoNexus launched Nexus Up, a travel technology app to improve visitor experiences with real-time notifications and itinerary tracking.
• September 2024: TUI expanded partnerships with Latin American agents to promote regional destinations globally.
• February 2025: MICE tourism in Latin America grew significantly, attracting U.S. visitors with advanced venues and cultural immersion.
• February 2024: CAF and UN Tourism launched the Green Projects Innovation Challenge to promote sustainable tourism.
• January 2025: Orange 142 introduced its Emerging Markets Council to boost digital marketing for SMBs in Mexico and Latin America.

Key highlights of the Report:

• Market Performance (2019-2024)
• Market Outlook (2025-2033)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Strategic Recommendations
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.