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New SiteMinder study reveals economic turmoil is not holding Latin Americans back from traveling

DALLAS, USA – Latin Americans still plan to travel this year, even if only domestically to compensate for the socioeconomic turmoil across the Latin American region, a new study has revealed. El Turismo Nacional – La Tendencia Mas Fuerte en Los Paises de Latinoamerica en 2019 launched this week by SiteMinder, the global hotel industry’s leading guest acquisition platform, surveyed more than a thousand travelers from Mexico, Colombia, Argentina, Chile and Peru who say they continue to allocate part of their savings to travel in spite of increased costs within the region.

To overcome the heftier price tags, travelers are shortening their trips, lowering their travel expenses, and spending more time carefully planning their vacations.

“Our study shows that times of recession or uncertainty are not reasons for Latin American travelers to give up their travel plans. However, they do impact the planning habits of those travelers and the way they choose to spend their trips,” says Jason Lugo, Regional Manager – Latin America at SiteMinder.

“Although inbound arrivals to the Latin American region remain steady, the vast majority of respondents to our survey told us they are choosing to travel domestically rather than to the traditional international destinations of Europe or the United States. For hoteliers, this means a greater need than ever to understand and cater for travelers from within their own country, while also ensuring they are able to attract and service foreign tourists.”

Tourism continues to be a main source of income for Latin American nations and, locally, governments are developing programs to maintain interest in the industry, not only among foreign visitors but local tourists. Infrastructure and budget facilities are also being improved to allow citizens of any socioeconomic status to travel.

In Mexico, where the annual Tianguis Turistico trade fair is being held this week, tourism represents 8.8 percent of the country’s gross domestic product (GDP) and the contribution is expected to remain consistent in 2019 with almost half (48.3 percent) of travelers saying will travel domestically over the coming year. Only 11 percent of traveler respondents from Mexico say they will visit Europe, while a quarter (24.7 percent) plan to travel elsewhere in Latin America in spite of 42 percent believing inter-region costs are now higher than in previous years.

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