While Peru’s rich and diverse cuisine continues to attract visitors, demonstrated by a range of quality...
Peru Tourism
Peru has seen relatively stable economic growth and significantly reduced the number of people living in poverty. Still, there have been multiple cases of corruption, but the government of President Martín Vizcarra Cornejo, who took office in 2018, has focused efforts on combatting this and stabilising the political climate. Nevertheless, challenges to ensuring sustainable development remain.
Displaying 1 - 6 of 12
Peru has seen relatively stable economic growth and significantly reduced the number of people living in poverty. Still, there have been multiple cases of corruption, but the government of President Martín Vizcarra Cornejo, who took office in 2018, has focused efforts on combatting this and stabilising the political climate. Nevertheless, challenges to ensuring sustainable development remain.
Peru’s tourism sector is ranked 46th out of 185, in terms of relative importance of travel and tourism’s total contribution to GDP, according to the World Tourism & Travel Council’s “Economic Impact 2018 Peru” report. According to the same report, in 2017 Peru’s travel and tourism sector was directly worth PEN26.5bn ($8.2bn), or 3.8% of GDP, a figure which is forecast to rise by 4.5% in...
With a new administration in place, local and international players in Peru have regained optimism. As one of South America’s top performers due to its reforms and fiscal discipline, the country is benefiting from rising commodity prices and an export-oriented mining sector. In addition, 2018 brought increased public expenditure, with notable rises in the budgets for education, health, infrastructure and reconstruction.
Thanks to its unique historic and cultural offering, including one of the world’s most exciting cuisines, Peru is the fastest-growing tourism destination in the region. International tourism inflows rose by 7.7% in 2016, according to the “Economic Impact 2017 Peru” report by the World Tourism and Travel Council (WTTC), posting faster growth than anywhere else in the Americas, and above the...
Over the last two decades Peru has been one of the fastest-growing economies in the region. Remarkably resilient to global headwinds, positive GDP growth has continued despite the end of the commodities boom. Yet the growth rate has slowed and the initial impetus of a first wave of structural reforms has faded. The question now is whether the current administration can address problems, implement further reforms and re-accelerate the economy.
In recent years, Peru has established itself as one of the world’s most unique tourism destinations, with much of the sector’s growth resting on the Incan ruins of Machu Picchu. According to the Ministry of Foreign Trade and Tourism, international arrivals increased from a total of 993,706 in the period between January and September 2004 to 2.6m during the same nine-month period in 2015....