The UN World Tourism Organization (UNWTO) has announced a strategic expansion of its Investment Guides and Investment Forums, specifically tailored for Latin American countries. This initiative aims to identify key factors that make these destinations attractive to investors, with a strong focus on green and sustainable investments. This reflects the UN’s commitment to environmental responsibility and sustainable development within the tourism sector.
Natalia Bayona, Executive Director of UNWTO, emphasized the crucial role of investment in driving economic growth and job creation within the tourism industry. She stated, “By channeling investments into the tourism sector, we can help build sustainable infrastructure and improve the quality of life for local communities. These investments are crucial for promoting inclusive and resilient development, ensuring that the benefits of tourism are widely shared.”
The global tourism sector has witnessed substantial investment in recent years. Between 2019 and 2023, 1,983 foreign direct investment (FDI) greenfield projects were attracted globally, totaling $106.7 billion in capital investment. This significant inflow has the potential to create almost 260,000 jobs worldwide, highlighting the tourism sector’s crucial role in global economic development.
Latin America and the Caribbean have also experienced a notable increase in tourism investment. During the same period, 212 tourism investment projects were announced, representing a total capital expenditure of $20.5 billion, expected to generate over 73,000 potential jobs. This underscores the region’s potential for growth and the importance of targeted investment.
The UN Tourism Investment Guides, part of the “Tourism Doing Business” series, offer comprehensive resources designed to provide strategic insights for potential investors and policymakers. These guides cover a range of innovative and sustainable investment opportunities, including:
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Debt-for-nature swaps:
These allow countries to exchange debt for conservation efforts, creating a win-win situation for both financial stability and environmental protection.*
Green and thematic bonds:
These bonds raise capital specifically for projects with environmental or social benefits, aligning with the growing demand for sustainable investments.*
National climate change adaptation plans:
These provide frameworks for countries to adapt to the impacts of climate change, including in the tourism sector, ensuring its long-term resilience.The guides also address sustainable financing mechanisms, investments in renewable energy specifically applied to tourism, smart infrastructure development, and the advancement of regenerative and community-based tourism initiatives. This holistic approach emphasizes the need for sustainable practices across all aspects of tourism development.
The expanded Investment Guides and Forums are expected to play a pivotal role in attracting international investors to the Latin American tourism market. This will foster sustainable economic growth, support the development of infrastructure that aligns with global environmental and sustainability goals, and ultimately contribute to a more responsible and inclusive tourism industry in the region.
