The WTM Global Travel Report 2025 projects that global travel and tourism will outpace overall economic growth over the next decade, expanding at an annual rate of 3.5% compared to 2.5% for global GDP, reaching a total value of over $16 trillion by 2035 – approximately 12% of global GDP.
Travellers are increasingly prioritising authentic, experience-based, and value-for-money travel, with 56% seeking new destinations and a growing focus on sustainability and local engagement.
Key trends emphasised include rising uptake of AI tools in planning and booking, the growing importance of sustainability (though cost remains a dominant driver), and increasing influence of geopolitical and economic risks (such as tariffs, inflation, labour shortages) which could dampen growth.
Latin America has seen a strong post-pandemic recovery, with international arrivals now above 2019 levels. The region’s growth is being led by Central America and the Caribbean, while South America is recovering more slowly but showing a steady improvement.
KEY TAKEAWAYS
Regional Performance
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Central America
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Strongest growth in the Americas, with arrivals up 25% over 2019 levels.
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El Salvador and Belize are among the fastest-growing leisure destinations in all of Latin America..
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South America
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Recovery lags behind Central America and the Caribbean due to domestic market reliance.
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International arrivals have now reached pre-pandemic levels and are expected to fully catch up by 2030.
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Brazil is the largest and most dynamic market, boosted by major events (e.g. massive concerts, sports) and improved air connectivity.
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Argentina’s currency changes have encouraged more outbound travel, which indirectly supports regional tourism (especially to Brazil
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Key Growth Drivers
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Improved air connectivity across the region, particularly in Central America.
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Events tourism — large-scale music, cultural, and sporting events significantly boost arrivals.
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Value-for-money appeal — many destinations are attracting travellers looking for affordable experiences amid global inflation.
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Cruise sector expansion, especially in the Caribbean, aligning with US outbound travel trends.
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Rising intra-regional travel, supported by stronger middle-class consumption and currency stabilisation in some markets.
Challenges & Risks
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Dependence on US travellers: Economic uncertainty and weaker consumer sentiment in the US pose a major downside risk, especially for Caribbean islands.
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Inflation and cost pressures across the region could impact affordability and domestic travel spending.
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Infrastructure and air capacity limitations in some South American markets may restrict growth potential.
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Climate risks and sustainability pressures are emerging issues, with consumers becoming more conscious of environmental impact
Growth Forecasts (2025–2030)
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Regional travel spend (domestic + international) projected to grow ~5% annually (CAGR) — in line with the global average
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Fastest-growing markets in the region include Dominica (+12%), Bermuda (+9%), and Bolivia (+8%).
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Brazil, the Dominican Republic, and Colombia remain the largest leisure markets by total spend
Read the full WTM Global Travel Report 2025