Gross travel bookings in the Latin America region collapsed by 62% to $21.7 billion in 2020.
The market has suffered as much as most around the world but some countries are predicting a return to pre-pandemic levels as early as 2023.
Much will depend on the availability and administering of vaccines alongside the spending power of travelers, both in the leisure and business categories.
Phocuswright’s market specialist for Latin America, Carolina Sass de Haro, explains how the region is faring and the forecast for the remainder of 2021 and beyond.
3 minute overview of the LATAM travel market recovery
Some of the key metrics are included in the graphic below.