Tourism in Ibero-America to Generate $260 Billion by 2034

Projections indicate that tourism in the Ibero-America region will boost the regional economy by $260 billion over the next 10 years

This data suggests a growth of 2.3%, according to forecasts by the World Travel and Tourism Council (WTTC).

The industry is expected to create up to 8 million jobs during this period, and as a result, the total economic contribution of travel and tourism could reach $852 billion to the global GDP by 2034.

The WTTC report describes that Ibero-American tourism relies heavily on domestic travelers, who represent 82.8% of the total, while international travelers account for 17.2%.

For the year 2024, the sector is expected to grow by 3.4%, around $95.3 billion, compared to the 2023 data.

Leisure travel accounted for 89% of spending, while business travel represented 11%.

The report concludes that Ibero-America has managed to recover in tourism much better than the global average.