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...
The Americas Tourism
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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.
Recording consistent growth since 2011, Mexico’s tourism sector has continued to expand steadily. According to government counts, more than 39m foreign tourists visited the country in 2017. Demand for Mexico’s medical tourism has recently picked up and is forecast to grow further, largely as a result of the changes made to the US health care system. Mexico’s natural beauty has long attracted...
Driven by an ongoing process of economic opening since the 1990s, Mexico has established a solid macroeconomic base. Structural reforms have improved the country’s trade flows, helped to soften the impact of a gradual slowdown in hydrocarbons production and exports, and enabled manufacturing-led economic diversification and regional integration.
As efforts to restore macroeconomic stability and diversify Trinidad and Tobago’s economy gather pace, the political emphasis on tourism is likely to continue, along with increasing private sector pressure to boost marketing. Tourism contributed 2.9% of GDP in 2016, generating $806.4m. The mixed performance of recent years could continue in the near term. However, the sector is expected to...
After facing headwinds such as depressed international energy prices, and rising debt and fiscal imbalances, Trinidad and Tobago’s economic recession appears to be turning a corner, with GDP growth projected to climb to 0.3% in 2017 and 3.4% in 2018. As one of the largest and most diversified economies in the English-speaking Caribbean, the country is beginning to benefit from the new administration’s process of fiscal adjustment and economic diversification, spurred on by an ambitious public works pipeline.