The most spoken languages there are Spanish and Brazilian Portuguese, which are used by 95% of the population. Unfortunately, English is not as widely spread as it is in most regions of the world, making it hard for foreigners who aren’t familiar with Latin languages.

Economically, Latin America isn’t a very powerful region in the world. Most countries in the region face economic struggles that none was able to tackle. Indeed , we can consider the situation to be quite alarming since in 2021, poverty rates reached 32,3% of the total population of the region.

Although some countries like Brazil and Mexico place themselves in the top 20 biggest countries in the world by GDP in 2022, as a whole, the GDP of all Latin American countries isn’t significant. However, the dynamism of its cultures, the vast agricultural potential and the abundance of its natural and energy resources made the region an important global actor. 

(Figure: share of population living on less than 3.20 U.S. dollars per day in Latin America in 2019, by country)

Furthermore, although the cultures, customs and traditions shared by Latin American countries build the portrait of a wonderful and peaceful region, Latin America is sadly known to be the world’s most unequal region. Indeed, if all those countries have one thing in common, it is the huge gap between social classes and the terrible lack of social cohesion as a consequence. Although social inequalities have lowered these past few years, in 2019 the richest 10% of the population in Latin America possessed almost 50% of the region’s wealth, while the poorest 10% owned as little as 2.5%. Besides the flagrant inequalities, Latin America is also considered to be the most unsafe and violent region in the world, due to the strong presence of rebel groups involved in illegal activities. Now, although parts of the region have been depicted as dangerous, some parts are still perfectly safe to visit.

(Figure:Latin America & Caribbean GDP 1960-2023)

Despite those cynical facts, Latin America remains one of the most popular regions for travel tourism. With its huge diversity of landscapes and cultures, the region attracts around 113 million tourists per year, resulting in hundreds of billions worth of revenue, and generating more than 15 million jobs. Indeed, inequalities and violence are mostly felt by locals. In general, visitors, who are usually wealthier than locals, only risk being pickpocketed, which for instance, isn’t enough to counterbalance the magnificent experience of visiting the region. Paradise islands like the Galápagos, living like Indiana Jones in Chichen Itza, being mesmerized by the immensity of the Amazon rainforest, discovering the enchanting historical sites of Machu Picchu or celebrating Carnival like nowhere else in Rio de Janeiro.

Moreover, visiting those places is also a way of getting to know a very welcoming, loving and affectionate population, that will leave you with unforgettable and joyful memories. This is what makes Latin America irresistible to foreigners. And this tourism is just as enjoyable for visitors than it is for the locals.

Top 10 most popular places to visit in Latin America:

1. Galápagos Islands
2. Chichen Itza Maya Ruins, Mexico
3. Iguazu Falls, Argentina & Brazil
4. Torres del Paine National Park
5. Salar de Uyuni, Bolivia
6. Pantanal, Brazil 
7. Havana, Cuba
8. Amazon Rainforest
9. Machu Picchu, Peru
10. Rio de Janeiro, Brazil

 Indeed, tourism has become one of the biggest support to the Latin American economy, creating more jobs and thus decreasing unemployment rates, and reducing poverty, which is currently one of the major issues for those countries. For example, in the Dominican Republic, revenue and jobs generated by the development of the tourism industry, has helped reduce extreme poverty by 1.6%, alongside malnourishment. Unexpectedly, tourism also has a positive impact on the environmental protection of those countries, which is yet another reason for locals to be thankful for the growth of tourism. Sadly, Latin America suffered greatly from the pandemic crisis because of its dependency on tourism, but the travel market is now back to its previous tendencies, and many opportunities arose from this crisis. Therefore, it is safe to say, given the potential of this industry, that opportunities of investments or business in the service sector are numerous and profitable in this region.

(Figure: Travel and tourism as percentage of gross domestic product in Latin America in 2021, by country, Top 11)