Tourism and Lifestyle

Travel and Tourism in Chile to 2019

  • CAN329058
  • 113 Pages
  • September 2015
  • Tourism and Lifestyle
Chile's inbound tourism is largely dependent on South American countries and any volatility in these markets can hinder its growth as happened in 2013 due to the slowdown in the Brazilian economy. Inbound tourist volume grew at an attractive CAGR of 5.4% during the historic period. However, trips from its largest source market, Argentina have been declining since 2013 due to tighter exchange controls imposed by the government. Decreasing unemployment rates have fueled the growth of domestic and outbound tourism during the historic period. Tourism is a priority sector for the Chilean government. Sernatur, the public agency responsible for the promotion and development of tourism in Chile, aims to make tourism sector the third biggest contributor to GDP by 2020.

Key Findings
- The Chilean tourism sector has demonstrated an impressive growth during the historic period (2009-2014). Inbound tourism is largely dependent on South American countries due to geographical proximity and arrivals grew from 2.6 million in 2009 to 3.4 million in 2014, at a CAGR of 5.4%. It attracts less number of tourists from Europe and Asia due to high transportation cost because of long distance, although accommodation and food costs are relatively low in Chile when compared to Europe. Argentina remains the largest source market, representing a share of 38% in 2014. However, trips from this country have been declining over the last two years (decline of -1.1% in 2013 and -5.6% in 2014) due to tighter exchange controls imposed by the Argentine government which made outbound trips costlier. Domestic tourism highly dominates the tourism sector, representing 87.2% of the trips taken by Chileans in 2014. Both, domestic and outbound tourism recorded healthy growth during the historic period, driven by decreasing unemployment rate. Domestic trips are projected to increase from 22.3 million in 2014 to 26.3 million by 2019 while outbound trips are expected to increase from 3.3 million to 4.7 million. Trips to US are expected to increase as Chile entered the 'Visa Waiver Program' (VWP) in May 2014, enabling visa-free travel for Chileans

- LATAM still dominates the Santiago-Sao Paulo market but the airline is facing competition as rivals started to operate on this route. Sky Airline and Gol commenced their operations on this route in 2014 and Sky Airline had 13% share of the total seat capacity in the market (as of July 7, 2014) and Gol had a 16% share (as of August 2014)

- The growing hotel industry in Chile is attracting international chains to launch their brands. Marriott launched its mid-priced brand Courtyard in 2015 while Hilton introduced its first full-service hotel DoubleTree in the same year. Hyatt introduced its first upscale select service hotel Hyatt Place in July 2014

Canadean's report - Travel and Tourism in Chile to 2019 provides detailed information on Chile's tourism sector, analyzing market data and providing insights. This report provides a better understanding of tourism flows, expenditure, and the airline, hotel, car rental, and travel intermediaries industries.

What else does this report offer?

- Historic and forecast tourist volumes covering the entire Chile's Travel andTourism sector

- Detailed analysis of tourist spending patterns in Chile for various categories, such as accommodation, sightseeing entertainment, foodservice, transportation, retail, travel intermediaries, and others

- Analysis of trips by purpose and mode of transport, and expenditure across various categories including domestic, inbound, and outbound tourism, with analysis using similar metrics

- Analysis of the airline, hotel, car rental, and travel intermediaries industries by customer type - leisure and business travelers

- Make strategic business decisions using historic and forecast market data related to Chile's Travel and Tourism sector

- Understand the demand-side dynamics within the industry to identify key market trends and growth opportunities

- Direct the promotional efforts on most promising markets by identifying the key source and destination countries
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