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12/12/2022 By : Katherine

South America tourism market set for decade of growth

The South America tourism market is projected to grow at a compound annual growth rate (CAGR) of 4 per cent, according to a new report by Future Market Insights.

The market is currently valued at US$ 320 billion as of 2022, but its valuation is projected to go up to US$ 473.68 billion in 2032.

Architecture and cultural diversity driving demand

Future Market Insights reports that the increased demand may be due to factors including architectural masterpieces and the cultural diversity of the continent. It adds that South America is one of the most underrated tourist destinations: “It is the land of mesmerising nights and festivals. It is specifically known for its beautiful mountains, exotic landscape, lively beaches, glorious wildlife, waterfalls and plenty of other things.”

The countries analysed are: Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Guyana, Paraguay, Peru, Suriname, Uruguay, and Venezuela. Argentina is the most visited country in South America, followed by Brazil and Chile.

The analyst added the continent had a wide ranging offer for tourists, from rainforests to archaeological sites. Argentina has desert, jungles, or beaches and the Iguazu Falls, on the border of Brazil and Argentina, are part of an UNESCO World Heritage site. Visitors can get closer to the Falls via a series of walkways.

Argentina - from tango dancers to habitats for hikers

La Boca, in Argentina’s lively capital Buenos Aires, is known for its brightly painted houses, cafes, and brilliant tango dancers. It is also the location for the Caminito Street Museum. Other must visit areas of the capital include the Recoleta Cemetery, a mausoleum which marks the resting place of many famous Argentinians, along with gardens, museums, and café.

Tierra del Fuego national park is a must visit place for hikers with habitats including waterfalls, dense forests, mountains, and elegant glacier fed lakes. Puerto Madryn’s rugged coastline makes it popular as a cruise destination and with water sports enthusiasts.

A sample copy of the report is available at:




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