The South American tourism market, whose valuation stands at US$ 320 billion as of 2022, is projected to grow at a compound annual growth rate (CAGR) of 4%, and the valuation is expected to go up to US$ 473.68 billion in 2032.
Architectural masterpieces along with cultural diversity and many more factors are expected to increase the demand for South American tourism.
Tourism is one of those sectors which contributes to the GDP of not only a nation but an entire continent. There are countries across the world which are solely dependent on tourism for their economic growth. So, indeed tourism is necessary not only for tourists but nations as well.
According to Future Travel Insights, 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.
South America is composed of 12 independent nations and other dependent ones. The region has the honour of hosting two of the New 7 Wonders of the World with the Cristo Redentor Statue (Rio de Janeiro) and Machu Picchu (Peru). Not only that, but tourists can also visit two of the New 7 Wonders of Nature in the Amazon Rainforest (Bolivia, Brazil, Colombia, Ecuador, Guiana, Guyana, Peru, Suriname, Venezuela) and the Iguazú Falls (Argentina and Brazil). Furthermore, Bolivia is the only South American country to be among the voted New 7 Wonders Cities with the wonderful city of La Paz.
Last but not least, Argentina, one of the largest countries in South America, contributes to tourism with their outstanding New7Wonders certified official National 7 Wonders of Nature: Salinas Grandes (Jujuy), Río Mina Clavero (Córdoba), Glaciar Perito Moreno (Santa Cruz), Parque Nacional Talampaya (La Rioja), Selva Misionera (Misiones), Parque Nacional Nahuel Huapi (Rio Negro y Neuquén) and Bañado La Estrella (Formosa).
The South American tourism market size is expected to expand in the coming days. The countries that have been 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.