Buenos Aires has made the most significant recovery in the travel and tourism sector among Latin American cities last year, from a total of 82 cities analyzed by the World Travel and Tourism Council (WTTC), in its recent Economic Impact of Cities report.
The report noted that the travel and tourism sector in Buenos Aires reached numbers above the pre-pandemic levels, taking also into account its contribution to the Gross Domestic Product, employment as well as international spending, VisaGuide.World reports.
“Buenos Aires was consolidated last year as one of the main tourist destinations in Argentina since it showed positive progress compared to 2021. According to the information revealed by the EIR, the Argentine capital exceeded its pre-pandemic levels in fields such as employment and domestic spending,” the report provided by WTTC notes.
It was also revealed that in 2019, the travel and tourism industry contributed to the GDP of the city with a total of 5.5 per cent of its economy (11 billion dollars), while in 2020, it decreased by over 47 per cent. Still, since 2021 there was noted a positive recovery, while the sector’s contribution to GDP last year was almost 5 per cent (7.4 trillion dollars).
“In addition, in 2019 the sector generated more than 282,700 jobs in Buenos Aires, 4.2 per cent of all jobs in the city. In 2021, it revealed a contribution of 3.6 per cent, but in 2022 it had a remarkable growth of almost 30 percent, surpassing previous levels to register a contribution of 4.5 per cent to the GDP of the city; this contribution is equivalent to 305,811 new jobs,” the report revealed.
At the same time, Buenos Aires became an attractive destination for travelers from other countries. According to WTTC, international spending in 2021 was 80,000 million dollars while last year it increased by 592 per cent, reaching a total of 520,000 million dollars.
In addition to the surge in the number of foreign visitors, domestic travel also improved. It has been reported that domestic spending was at 10.25 billion dollars, marking an increase of 32.8 per cent in comparison to 2021 figures, and surpassing pre-pandemic levels that registered a total of 9.83 trillion.
The World Travel and Tourism Council through its recent report also stressed that there is still work to be done in order for pre-pandemic levels to be reached. However, it has been emphasized the fact that Buenos Aires showed great progress in the recovery sector while adding that it represents an example of the correct measures that have been implemented in the destination.
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