Latin America Caribbean tourism investment boost

UNWTO and IDB promote tourism investment in Latin America and Caribbean

It’s a big opportunity. In 2010, Latin American and Caribbean destinations received around 74 million international tourist arrivals. In 2009, tourism to the region generated just over US$ 58 billion in international tourism receipts.

UNWTO and the Inter-American Development Bank are now to partner to strengthen tourism development in Latin America and the Caribbean

Joint activities will focus on improving the measurement of tourism, strengthening governance and promoting investment in the region.

The cooperation program, which will run until the end of 2012, got underway with a Workshop on Tourism Statistics for the Southern Cone Countries held in Montevideo in collaboration with the Ministry of Tourism of Uruguay (11-15 April 2011).

With the participation of representatives from tourism administrations, national statistics offices and central banks, the workshop represents a step towards increased coordination in tourism measurement.

The statistics component of the program aims to reinforce governance and tourism policy in Uruguay, Brazil, Argentina, Paraguay and Chile by providing reliable and harmonized tourism indicators and data.

The project is part of both organizations’ objectives of improving national tourism statistics systems and accelerating regional integration. The statistics component further includes the development of a Regional Tourism Observatory.

In the area of tourism governance, UNWTO and the IDB will collaborate to set out a framework for tourism governance at national and regional level. Special attention will be given to tourism promotion organizations.

Research will be carried out on the key factors driving private investment decisions including legislation, fiscal policy, credit lines, warrants, administrative procedures and capital movement. In the area of public investment, UNWTO and the IDB will focus on the transversal character of tourism and the fact that most investment decisions which impact the sector are taken by multiple areas of government.

The cooperation program between UNWTO and the IDB aims to contribute to the process of economic and social development in Latin America and the Caribbean through tourism. The sector is one of the largest and fastest growing in the region, and plays a critical role in creating jobs, providing foreign currency and generating and distributing wealth.

UNWTO Economic Measurement of Tourism: statistics.unwto.org/
UNWTO Regional Seminar on Tourism Investment in the Americas: americas.unwto.org/es/event/seminario-tecnico-sobre-inversiones-en-turismo-en-las-
 

Valere Tjolle
Valere Tjolle is the editor of the Sustainable Tourism Report Suite latest special offer HERE