South America Destination Tourism Trends Insight by Type, Source Markets, Foreign Direct Investment and Future Opportunities, 2023 Update

South America Destination Tourism Insight Report Overview

The total international arrivals stood at 20.6 million in South America in 2022 and are expected to reach pre-pandemic levels by 2023. International arrivals is anticipated to witness a CAGR growth of more than 17% from 2022 to 2027.

South America Destination Tourism Market Outlook 2022-2027 (No. of International Arrivals)

This report provides an in-depth analysis of a tourist destination and its key source markets, as well as an assessment of the trends and issues in the covered destination market, in this case, South America.

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South America Destination Tourism Market Trends

The key trends influencing the South America destination tourism market are high dependency on regional tourism, and growing air travel, and the impact of COVID-19 pandemic on inbound tourism.

High dependency on regional tourism – Many South American countries are highly dependent on neighbouring regional countries to support their tourism economies. Of the South American source markets, Argentina shows the highest propensity for intraregional travel, with many of the region’s destinations being overly dependent on Argentina as a source market.

Rising growth of air travel – Air travel accounted for the largest segment of international arrivals by mode of transport, more than 50% in 2022 to South America. In recent years, there has been an increase in the number of low-cost carriers operating in the region, which has made air travel more affordable and accessible to a wider range of travelers. The rise of low-cost carriers has been driven in part by the growing demand for air travel in the region, particularly among young people and middle-class travelers. Many of these travelers are looking for affordable and convenient ways to explore the region, and low-cost carriers have been able to meet this demand by offering lower fares and more flexible travel options. In addition to the growth of low-cost carriers, there has also been an increase in the number of budget-friendly accommodations, tours, and activities in the region. Governments are also supporting air travel through the expansion and construction of airports. The government of Colombia is planning to invest in five airports.

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South America Destination Tourism Market Segmentation by Countries

The key countries in the South America destination tourism market are Colombia, Brazil, Argentina, Peru, Uruguay, Chile, Ecuador, Paraguay, Bolivia, Venezuela, Guyana, and Suriname. In 2022, Colombia surpassed Brazil and Argentina to become the most popular South American destination in 2022. Colombia offers different types of tourism experiences for travelers like Nature, adventure, Culture, wellness, Sun & Sand Beaches, Cruises, Community Tourism, LGBT and Luxury.

South America Destination Tourism Market Analysis by Countries, 2022 (%)

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South America Destination Tourism Market by User Types

The key user types taking inbound trips in South America are singles, groups, families, and couples. In 2022, families accounted for largest share of inbound travelers in 2022, with 4.6 million trips of international arrivals to some of the key countries including Brazil, Argentina, Chile, and Others. Families are attracted to the South America region for natural and cultural tourism, the diverse activities on offer, and often affordable travel experiences. Travel agents should customize their product, service, and promotional activities to fit the unique demands of families to draw in and advertise to this market segment.

South America Destination Tourism Market Analysis by Tourist Type

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South America Destination Tourism Types

Some of the most common destination tourism types include sun and beach, visiting friends or family, city break, cultural, adventure/sport, gastronomical, multi-stop trip, cruise, religious, wedding related and wellness/medical among others. The sun and beach holidays are the most preferred holiday type.

South America is a land with several types of amazing scenery, towering mountains, stunning beaches, brilliant wildlife and forests, elegant waterfalls, vineyards and icebergs all offer an extensive range of visitor experiences. Some of the best places to visit in South America are Iguazu Falls in Argentina, Angel Falls in Venezuela, Torres del Pais National Park in Chile, Machu Picchu in Peru, Lake Titicaca in Bolivia, the Galapagos Islands and Amazon Ecological Reserve in Ecuador. South Americans can attract people from different countries who are more interested in Sun and Beaches. The best surf, sun & sand beach towns in South America are Rio de Janeiro.

South America Destination Tourism Market Analysis by Tourism Types

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South America Destination Attractions

The vast and geographically diverse continent of South America is a land with several types of amazing scenery, towering mountains, stunning beaches, brilliant wildlife and forests, elegant waterfalls, vineyards, and icebergs all offer an extensive range of visitor experiences. Some of the top destination attractions in South America are Iguazu Falls, Amazon Rainforest, Ibirapuera Park, Cristo Redentor and Corcovado, and Porto de Galinhas & Pernambuco Beaches among others.

Iguazu Falls : Iguazu Falls is situated on the border between Brazil and Argentina. On the Iguazu River, a waterfall system is composed of 275 waterfalls. The Devil’s Throat, a U shape with a height of 82 meters (269 feet), is the most impressive of them all. UNESCO’s prestigious Iguazu National Park protects the falls.

Ibirapuera Park: Ibirpuera Park, created by Brazil’s landscape architect Robert Burle Marx, is one of the most visited parks in South America. The park is a symbol of contemporary architecture, as well as an area devoted to Brazilian culture. In a rock garden with a fish pond, a Japanese pavilion displays sculptures, clothing, and traditional crafts.

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Scope

This report is part of GlobalData’s Destination Market Insights Series. These reports provide an in-depth analysis of a tourist destination and its key source markets, as well as an assessment of the trends and issues in the covered destination market, in this case South America.

Reasons to Buy

• btain a clear and detailed insight into new developments in two popular tourist destinations.
• Use data and analysis to explore trends related to international arrivals and spending, tourism segments as well as construction, foreign direct investments (FDI), airlines and hotel developments.
• Gain a better understanding of the opportunities in the market, as well as the risks, to support better business decisions.