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.
Blogs and news.
30 Jun 2022
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Rogerio is the Head of Tourism for IDB Invest and has over two decades of real estate and hospitality experience. He is responsible for executing the bank's tourism strategy in Latin America and the Caribbean through a variety of financial instruments including debt, mezzanine, and equity investments. Prior to joining IDB Invest, he served as EVP for Terranum Hotels, an owner and operator of hotels across Latin America, and worked for over 11 years at Ernst & Young in Miami, where he was responsible for leading the firm’s real estate and hospitality advisory activities in LAC.