Tourism has a huge impact in Latin America and the Caribbean (LAC).
The sector is of vital importance in LAC, generating one in 10 jobs and attracting 5% of investment. As the number of visitors increases, Latin American and Caribbean countries require new tourism infrastructure to meet the growing demand. However, tourism development requires a strong social and environmental base from which to grow.
CHALLENGES AND OPPORTUNITIES
The World Tourism Organization forecasts sustained growth of tourism until 2030. Smaller Latin American and Caribbean countries will benefit the most since the sector's contribution to their economies accounts for, on average, 18% of GDP and 15% of employment. It must be emphasized that tourism has great potential for creating inclusive and sustainable economic growth, for example, as a source of employment for women who occupy 59% of jobs in hotels and restaurants.
In order for the region's tourism development to succeed, it must not only seek the satisfaction of visitors. Indeed, Latin American and Caribbean countries face a major challenge: they must develop tourism infrastructure that can accommodate domestic and international tourists while improving the living conditions of host communities and protecting the environment and biological diversity.
We add value to the integral development of projects in the tourism sector in the region.
We work with companies across the entire tourism and accommodation spectrum with a strong focus on social and environmental sustainability. We help them create an ambitious agenda around equality, gender, and sustainability issues. We promote the inclusion of vulnerable groups, such as young people, women, and indigenous peoples. We finance sustainable hotels and climate change resilient infrastructure.
We design innovative financial products to fill gaps in the financial sector in Latin America and the Caribbean, such as mixed financing for climate change mitigation and adaptation. Our products adapt to the needs of our clients and the markets in which they operate, mitigating risks, overcoming market inefficiencies, and increasing long-term investment.
We support our financial offer with technical advice and insight, making our clients more sustainable and competitive. These services may include energy efficiency, historical heritage, climate risk, and gender equality. We also provide assistance in social and environmental certifications, such as LEED, EDGE, or Stay Well, among others, in order to demonstrate excellence and compliance with global standards.
We not only work with the private sector but also collaborate with governments, local communities, and civil society. The IDB Group has more than 60 years’ experience and 26 offices throughout Latin America and the Caribbean. Our vast experience and presence in the region make us the ideal partner to support your sustainable tourism projects.