Brazil, the largest and most populous country in South America in a period in which the Latin American travel market is experiencing a strong growth is leading the ranking as a driving force of the continent.
According to a new report from Phocuswright, the travel industry's leading driver of great decisions and research authority, the region's travel market expanded for thr third year in a row in 2023, with gross bookings increasing 29% to $70.1 billion.
In Brazil the travel sector saw a relevant increase of 37% to $21.8 billion, driven by growing stability, declining poverty levels and in addition improving economic conditions under Presdent Inácio Lula da Silva living nowadays a thriving period.
The country's airlines, as largest travel provider segment, carried 21 million international passengers, up 38% compared to 2023.
The Director for Latin America and Caribbean at Phocuswrright and co - author of the report Carolina Sass de Haro commented that Brazil is a dynamic travel market with a growing digital presence. Driven by an increase in both domestic and international travel, Brazil's travel sector is poised for continued growth.
The key findings of the report are :
· The Latin American travel market is on the track for continued expansion, with gross bookings forecast to reach $95.8 billion by 2027.
· Online travel bookings are increasing rapidly, with online penetration expected to reach 54% by 2027.
· The hospitality sector is the largest travel supplier market in the region, accounting for 47% of all gross travel bookings in 2023.
· Mexico remains the largest travel market in Latin America, accounting for 45% of gross travel bookings in 2023.
The growth of the Latin American travel market and other key industry trends was discussed in more detail at the Phocuswright Conference which took place from 19th to 21st november at the JW Marriott Phoenix Desert Ridge Resort & Spa in the state of Arizona – U.S.
Link - https://infoturlatam.com/brasil-lidera-el-crecimiento-de-viajes-en-latinoamerica/
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