Peru’s Tourism Sector Set for Remarkable Growth by 2025

Projections for Peru’s Tourism Sector

The World Travel and Tourism Council (WTTC), in collaboration with Oxford Economics, anticipates that the tourism sector in Peru will contribute over $23 billion to the national economy by the end of 2025. This projection represents a 6.9% increase from 2024 and is expected to constitute 7.8% of Peru’s overall GDP.

Employment Opportunities

According to the WTTC’s Economic Impact Report (EIR), tourism is projected to support 1.17 million jobs in Peru by 2025. This translates to 6.6% of the country’s total employment, marking an 8.4% rise compared to the pre-pandemic levels of 2019.

Domestic and International Tourism Spending

Domestic tourism spending in Peru is expected to reach $12 billion by 2025, indicating a 6.5% annual growth. Furthermore, the international tourism sector will likely generate more than $5 billion, reflecting a robust 9.4% increase from the previous year.

2024: A Comparative Perspective

Reflecting on 2024, the tourism sector contributed $21.6 billion to the GDP, which was 7.5% of the national economy. The sector supported 1.11 million jobs, equivalent to 6.4% of total employment. Notably, international spending reached $4.7 billion, almost 22% higher than in 2023, while domestic spending accounted for $11.4 billion, showcasing an impressive growth rate exceeding 9%.

Tourism Dynamics

Leisure travel composed more than 86% of total tourism expenditure in 2024, while business travel accounted for 13.8%. The main source markets for tourism were Chile (25%), the United States (18%), and Ecuador (8%).

Long-Term Outlook to 2035

Looking ahead to 2035, the WTTC projects that Peru’s travel and tourism sector will contribute $34.3 billion to the economy, representing 8.5% of GDP. Employment in tourism is expected to increase to 1.4 million jobs, creating an additional 278,500 positions within the next decade. Moreover, it’s estimated that international visitor spending will reach approximately $9.4 billion, while domestic spending could surpass $16 billion, further solidifying the essential role of tourism in the Peruvian economy.

Regional Tourism Trends

In Central and South America, the travel and tourism sector contributed $358.7 billion to GDP in 2024, making up approximately 7.5% of the regional economy—a growth of over 9% since 2019. Employment in the sector reached 17.5 million jobs, reflecting 8% of the total regional workforce. By 2025, the WTTC expects this contribution to rise to $372 billion, maintaining its importance in the regional economic landscape.

Key Highlights

As Peru’s tourism sector gears up for remarkable growth, it not only stands to improve economic figures but also to enhance cultural exchanges and experiences for travelers. The anticipated increase highlights the significance of tourism as a driver of employment and cultural exchange.

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Conclusion

The trajectory of Peru’s tourism sector indicates a promising future, with its expected contribution of $23 billion to the GDP by 2025 serving as a testament to the evolving industry. The anticipated rise in both employment and spending showcases the vital role that tourism will play in enhancing the national economy. As travelers and tourists, it’s exciting to think about how these developments might enrich the travel experience and open up new avenues for adventure activities, cultural interactions, and unforgettable travel experiences. Whether it’s museum tours with live guides or eco-friendly wildlife safaris, the growing sector embodies a gateway to diverse modern travel adventures.