Tourism growth in Latin America and the Caribbean
International Tourism Growth
50%International tourism receipts in Latin America and the Caribbean have jumped over 50 percent in the past decade.
Direct and Indirect Employment
6.4%Tourism accounts for 6.4% of total direct and indirect employment in Latin America or 1 in every 15.7 jobs in 2009. These numbers are even higher in the Caribbean region where tourism supports 12.6% of total employment.
Tourism Industry GDP share
6.6%The direct and indirect contribution of tourism industry in Latin America’s economy in 2009 was:
- 6.6% to Gross Domestic Product ($177 billion),
- $45 billion of capital investment, equivalent to 8.3% of total investment, and
- $13 billion of government expenditure, equivalent to a 2.9% share.
Share Exports of Goods and Services in the Caribbean
41%Tourism represents 41% of exports of goods and services in the Caribbean region and 8.9% in Latin America.
Tourism Projects in the Region
$1.9 billion Since 1970, the IDB has provided more than $1.9 billion of loans to finance 35 tourism projects in the region.