Online Travel Market in Latin America Market Size

Latin America Online Travel Market Analysis

Online Travel Market in Latin America is expected to achieve a CAGR of 7% during the forecast period. Between 2010 and 2019, the region experienced an increase of roughly 60% in international tourist arrivals, though the COVID-19 pandemic caused a strong reverse. Mexico is the main thriving force for the Latin American tourism sector. Even during the COVID-19 pandemic, Mexico was the region's leading country for international tourism, registering more than the combined total of the other countries on the list.

The online travel market in the Latin American region is expanding with the help of several factors driving the region's current economic growth. Factors including investment stimulation by regional governments and increased skilled labor are causing a surge in new business arrivals from outside the region. Similarly, the increasing middle class worldwide and their growing interest in exploring more countries, coupled with the elimination of visas required between nations, have caused an even greater spike in tourists who are venturing further than the confines of their national borders.

The growing number of travelers in Latin America has benefited both regional and international airlines and hotel chains that drive the market studied. Increased tourist demand in countries such as Argentina, Chile, Colombia, and Mexico has led international hotel chains to focus on stronger presence in the region and expand their service offerings in the region.

The tourism sector has been transformed by the use of e-commerce. In a population where 60% of people have access to the Internet, more and more Latin travellers are using different mobile applications and internet platforms to reserve hotels, book tours and organize transport, foregoing traditional travel agencies, thus helping the market to expand further in the region.