The South American tourism market, whose valuation stands at USD 320 billion as of 2022, is projected to grow at a CAGR of 4%, and the valuation is expected to go up to USD 473.68 billion in 2032.
Architectural masterpieces along with cultural diversity and many more factors are expected to increase the demand for South American tourism.
| Report Attribute | Details |
|---|---|
| South America Tourism Market Valuation as on 2022 | USD 320 Billion |
| South America Tourism Market Anticipated Valuation for 2032 | USD 473.68 Billion |
| South America Tourism Market Anticipated Growth Rate (2022 to 2032) | 4% |
Tourism is one of those sectors which contributes to the GDP of not only a nation but an entire continent. There are countries across the world that are solely dependent on tourism for their economic growth. So, indeed tourism is necessary not only for tourists but nations as well.
South America is one of the most underrated tourist destinations. It is the land of mesmerizing nights and festivals. It is specifically known for its beautiful mountains, exotic landscape, lively beaches, glorious wildlife, waterfalls, and plenty of other things.
South America is composed of 12 independent nations and other dependent nations. Spanish is the most widely spoken language in South America, which is followed by Portuguese. English is the third most spoken language.
Generally, the climate in South America remains hot and humid. The climate tends to be highly volatile going further South.
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From rainforests to archaeological sites, South America has it all to offer for all kinds of tourists. However, choosing just one vacation spot becomes a challenging task when the continent has so much to offer.
Argentina is believed to be one of the most attractive tourist destinations in South America. The country has a lot to offer, be it deserts, jungles, or beaches. This is the country which keeps tourists hooked.
Iguazu Falls is located on the border of Brazil and Argentina. These are part of UNESCO world heritage sites and are one of the most majestic sites in the entire South American region. Visitors have the luxury of going closer to the Iguazu Falls through the walkways.
Buenos Aires, which is the capital of Argentina, is one of the most lively and beautiful cities. One should make it a point to visit La Boca, where the Caminito Street Museum is located, which is meant for its brightly painted houses, cafes, and the brilliant tango dancers
Recoleta Cemetery is another must-visit place in Buenos Aires, which is a mausoleum containing the remains of certain famous Argentinians, along with gardens, museums, and café.
For all those who want to venture into hiking, Tierra del Fuego national park is a must-visit place. Apart from hiking, the park has plenty to offer to range from waterfalls, dense forests, mountains, and elegant glacier-fed lakes.
Puerto Madryn is another place in Argentina, which is famous for being a cruise destination. It is mainly meant for its rugged coast line, which is quite popular amongst water sports enthusiasts.
Brazil is another country in the South American continent, which is popular for its scenic beauty, and nightlife. Moreover, the country is famous for its rainforests and savannas.
The Cristo Redentor, which is a gigantic statue of Jesus Christ, is located in Rio De Janeiro, which is the capital of Brazil. The 709-meter statue is something which tourists look forward to visiting. The statue is a part of Tijuca National Park. The base of this statue encloses a chapel, which is famous for weddings.
Rio De Janeiro is also famous for the carnival, which showcases colour, action, sound, and celebration in the most extravagant manner. This can be said as a stage where Samba dancers compete with each other, and the stadium is built by Brazil’s most popular architect, Oscar Niemeyer.
The Iguacu Falls are popular in Brazil as well. The waterfalls are located at a place where Argentina, Brazil, and Paraguay meet. Going down, the river is restricted to one-fourth of its width, which makes the force of the water stronger.
Sugar Loaf, which is located in Rio De Janeiro is around 390 metres above the beach. It gives a spectacular view of Rio and the harbour.
Chile is another country in South America, which is visited a lot by tourists across the world. Chile also has the reputation of being the most diverse country in South America.
Easter Island is believed to be one of the most popular tourist destinations in Chile. It is believed to be one of the most mysterious places in the world. There are no trees on this island, and the giant statues present a solid example of exemplary human artistry and achievement.
The Torres Del Paine national park, which is a ‘Towers of Blue’ national park is a glaciated region located in the South of Chile. The exploration through this park can be done via van or multi-day treks. There are guides as well who help the tourists carry their bags and cook meals for them as well.
The Chilean Lake District is another major tourist attraction in Chile. It is meant for its dense forests, clean lakes, and snow-filled volcanos.
Valparaiso is a port town that is located on the coast of Central Chile. It is meant for some of the first urban inventions of Latin America, like the volunteer fire department. The place is also meant for its underground street art. It is known for its bright houses, lively nightlife, and beautiful seaside views.
Peru is yet another beautiful country located in South America. It is located in the western region of North America and shares its boundaries with Ecuador, Columbia, and Brazil.
Cusco is one of the most visited places in Peru and is meant for the archaeological ruins.
Machu Picchu, which is located 300 metres above the Urubamba River is one of the most histrionic places to visit. The place is meant for ancient ruins. Apart from the ancient ruins, the place is also famous for its lush mountains.
The Inca trail is a four-day hike, and many tourists believe it to be the main part of the visit to Peru. The hike is way more demanding than what many people expect, but at the end of it, people are excited. The hike must be done through an agency, and the reservations should be done in advance.
Lake Titicaca is surrounded by hills and villages. The entire area around the lake is a mix of culture and scenery, that sets it apart from other regions.
With so much to offer, the South American tourism market share is expected to upsurge in the coming times.
There are lots of other countries like Columbia, Uruguay, Ecuador, etc. which are worth visiting, and are meant for their wildlife, culture, and historical sites.
Of all the offerings that are being made by the continent, the demand for the South American tourism market is anticipated to increase.
The South American tourism market size is expected to expand in the coming days. The countries that have been analyzed are Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Guyana, Paraguay, Peru, Suriname, Uruguay, and Venezuela.
Argentina is the most visited country in South America. Argentina is followed by Brazil. Chile is the third most visited country in South America.
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Some of the key players in the South American tourism market are Pentravel, CVC Travel, Thompsons, Suretravel, VIAJANET, Hostelworld Group, Harveyworld, IGO Travel, Computravel, LuxuryAfrica, and Despegar.
After, more than two years, the focus for the South America tourism market remains to increase the footfall of tourists and to revive the tourism sector to its glory, as the past two years have been relatively dry for the region.
South America’s Latam Airlines is working harder to emerge from restructuring during the second half of 2022.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2014 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in Kilotons, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Booking Channel, Consumer Orientation, Age Group, Tour Type, Tourist Type |
| Key Countries Profiled | Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Guyana, Paraguay, Peru, Suriname, Uruguay, Venezuela. |
| Key Companies Profiled | Pentravel; CVC Travel; Thompsons; Suretravel; VIAJANET; Hostelworld Group; Harveyworld; IGO Travel; Computravel; LuxuryAfrica; Despegar. |
| Customization | Available Upon Request |
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Demand for the South American tourism market is likely to grow at a CAGR of 4% through 2032.
The South American tourism market is expected to be valued at USD 473.68 billion by 2032.
The valuation of the South American tourism market is USD 320 billion in 2022.
1. Executive Summary | South America Tourism Market 2. Market Overview 3. Market Background 4. Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Tourist Type 5.1. Domestic Tourists 5.2. International Tourists 6. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Traveler Type 6.1. Solo 6.2. Individual 7. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Mode of Travel 7.1. Roadways 7.2. Airways 7.3. Seaways 8. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Mode of Stay 8.1. Hotels 8.2. Resorts 9. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9.1. South America 10. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Key Countries Tourism Market Analysis 12. Market Structure Analysis 13. Competition Analysis 13.1. SOUTH AMERICA TRAVEL GROUP JSC 13.2. Lily’s Travel Agency 13.3. TruTravels 13.4. South America Amazing Tours 13.5. G Adventures 13.6. Exodus Travels 13.7. World Expeditions 14. Assumptions & Acronyms Used 15. Research Methodology
Travel and Tourism
March 2024
REP-TH-3020
324 pages
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South America Tourism Market
