IBOV 187,958.63 ▲ 1.25% IPSA 11,300.24 ▼ 0.62% IPC MEX 64,479.96 ▼ 0.52% MERVAL 3,107,396 ▼ 0.09% COLCAP 2,580.41 ▼ 0.14% BVL PERÚ 60,702.89 ▼ 1.24% USD/BRL5.10▼ 0.10% USD/MXN16.98▲ 0.50% USD/CLP940.82▲ 1.42% USD/COP3,089▼ 0.90% USD/PEN3.37▲ 0.44% USD/ARS1,513▼ 0.08% USD/UYU40.24▲ 3.05% USD/PYG5,868▲ 2.26% USD/BOB12.36▲ 1.91% USD/DOP58.60▲ 0.17% USD/CRC447.58▲ 1.69% USD/GTQ7.63▲ 3.04% USD/HNL26.85▲ 0.57% USD/NIO36.62▲ 0.34% USD/VES825.67▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.73▲ 2.40% EUR/BRL5.93▲ 0.34% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 187,958.63 ▲ 1.25% IPSA 11,300.24 ▼ 0.62% IPC MEX 64,479.96 ▼ 0.52% MERVAL 3,107,396 ▼ 0.09% COLCAP 2,580.41 ▼ 0.14% BVL PERÚ 60,702.89 ▼ 1.24% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
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Travel Central America

Dominican Republic and Colombia Spearhead LatAm’s Tourism Revival

By · November 20, 2023 · 2 min read

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Latin America’s tourism industry is rebounding from the COVID-19 pandemic, with many countries now approaching their 2019 tourism figures.

ForwardKeys, an analysis firm, reports that from January to August 2023, the Dominican Republic saw a 14% increase in air visitors compared to 2019.

This makes it the global leader in tourism recovery. Colombia and Mexico are not far behind, each with a 5% increase.

The Dominican Republic has been particularly successful, welcoming over seven million international visitors by August.

The country’s Ministry of Tourism anticipates reaching 10 million by the end of the year. In August 2023 alone, 782,000 tourists visited.

This success places the Dominican Republic at the top for post-pandemic tourism performance.

It’s followed by other Caribbean destinations like Costa Rica, Aruba, Jamaica, and Puerto Rico.

Dominican Republic and Colombia Spearhead LatAm's Tourism Revival
Dominican Republic and Colombia Spearhead LatAm’s Tourism Revival
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Colombia, too, is enjoying a tourism surge, exceeding its pre-pandemic levels by 5%. This growth outshines its South American neighbors and other global hotspots.

Tourism is crucial for economic health. The Inter-American Development Bank (IDB) highlights its pre-pandemic contributions:

  • over $566.6 billion in added value,
  • more than 26 million jobs, and significant exports and investments.

For some countries, tourism represented over 10% of their GDP and employment.

The World Tourism Organization (WTO) confirms these trends. Its 2022 data lists the top Latin American tourist destinations, with this pattern continuing into 2023.

Mexico leads with 38.33 million tourists, followed by the Dominican Republic, Colombia, Argentina, and Brazil.

Latin America has recovered 85% from the pandemic’s effects.

The WTO predicts a full recovery by 2024, as stated by Gustavo Santos, the WTO’s Director of Tourism for the Americas.

Over 4.1 million international visitors in Colombia arrived between January and September 2023.

This number exceeds the 2022 figures for the same period by 29.3%.

However, South America’s overall recovery still lags 19% behind 2019 levels due to high airfares and limited flight options.

Global travel trends are diversifying, with the Middle East and Africa growing in popularity.

The United Arab Emirates, for instance, is nearing its pre-pandemic tourism levels, thanks to increased visits from the United States and Russia.

World Tourism Organization (WTO) data support ForwardKeys’ findings, listing the top five Latin American countries for foreign tourists in 2022, a trend continuing into 2023:

1. Mexico: 38.33 million tourists
2. Dominican Republic: 7.16 million
3. Colombia: 4.4 million
4. Argentina: 3.89 million
5. Brazil: 3.63 million

 

This article was drafted with automated assistance and reviewed before publication. How we use AI · Report an error

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