Mexico and Argentina, two prominent Latin American destinations, are experiencing a surge in tourism, fueled by their visa-free policies for citizens of numerous countries. This openness has led to increased visitor arrivals, economic benefits, and cultural exchanges.
A new study by the World Travel & Tourism Council (WTTC) and VFS Global predicts that Latin America’s travel and tourism sector could add US$260 billion to the regional economy and generate 8 million new jobs within the next decade. The report outlines key policy recommendations to achieve this growth, including infrastructure development, streamlined visa processes, and enhanced marketing campaigns.
Copa Airlines has launched its inaugural nonstop flight from Panama City, Panama to Raleigh-Durham International Airport (RDU), marking the Research Triangle region’s first direct connection to Latin America. The new route is expected to boost business and leisure travel between the two regions.
Colombia will host the inaugural GSTC Latin American and Caribbean Summit on Sustainable Tourism in Santa Marta from May 27-29, 2024. The summit, an exclusive event coordinated by the GSTC in conjunction with the Colombian Ministry of Commerce, Industry and Tourism, aims to advance sustainability and regeneration within the tourism industry by creating a strategic framework to enhance regional sustainable development. Over 20 countries will be represented at the summit, which will feature panel discussions on sustainable tourism, workshops on conservation and climate change in tourism, and site visits to Tayrona National Natural Park and the Katanzama Natural Reserve.
Travelier, a leading travel-tech company, has acquired DeÔnibus, a top online bus ticket platform in Brazil. This acquisition enhances Travelier’s presence in Latin America and positions the company as a comprehensive provider for all intercity land and sea transportation needs globally. DeÔnibus has become a prominent player in the Brazilian bus travel sector, connecting over 300 operators to more than 36,000 routes and serving 30 million travelers each year. This acquisition aligns with Travelier’s vision to become the global leader in intercity land and sea transportation, with its current portfolio encompassing five B2C brands and two TMS brands spanning Asia, Europe, Latin America, and Africa. Travelier recognizes DeÔnibus’s strong position and believes the company is poised to dominate the Brazilian market.
Chinese electric car brand Zeekr, owned by Geely, is outperforming Tesla in certain regions of China and plans to expand into Europe and Latin America this year. Despite Tesla reporting its largest global quarterly revenue drop since 2012, Zeekr has seen a surge in sales. According to Zeekr’s data, it outsold Tesla in the provinces of Zhejiang, Anhui, and Guangxi during the first three weeks of April. While Tesla’s Model Y remains the bestseller in China for battery-powered electric cars priced above 200,000 yuan, Zeekr’s 001 and 007 models rank among the top sellers in their respective price categories. Zeekr’s CEO, Andy An, declined to comment on the recent launch of Xiaomi’s electric sedan but highlighted the differences in strategy and resources between the two companies. At the Beijing auto show, Zeekr unveiled a new car structure that offers more interior space. An emphasized the company’s focus on creating a smart mobility experience, with future vehicles designed to accommodate activities such as gaming and dining. Zeekr expects overseas sales to boost revenue this year, with plans to enter six to eight additional countries in Europe and expand into Latin America. The company is also developing right-hand drive cars for markets like Hong Kong, Macao, and Singapore. An confirmed that Zeekr is exploring the possibility of building factories overseas but provided no specific details. Long-term support from its parent company Geely, which owns Volvo, provides Zeekr with access to resources and expertise. An emphasized the importance of combining talent, technology, and capital for long-term success in the automotive industry. Zeekr has filed for an IPO on the New York Stock Exchange but has not yet announced a listing date.
Andrés Rebolledo, executive secretary of the Latin American energy organization OLADE, recently discussed the energy sector with Steve Sedgwick at the World Energy Congress. During the discussion, Rebolledo provided insights into the current state of the energy sector and its future prospects.
GoFundMe, the crowdfunding platform, has launched its services in Mexico, marking its expansion into Latin America. Mexico, as one of the world’s largest economies and a close partner of the United States, presents a significant opportunity for GoFundMe with its high demand for medical assistance and emergency aid. The platform’s global reach and user-friendly interface make it a valuable resource for Mexicans in need of financial support. GoFundMe’s expansion aligns with the growing trend of crowdfunding in Mexico, where platforms like Donadora have been gaining popularity. The company remains optimistic about the potential of other Latin American markets, but plans to proceed strategically based on the success of its Mexican launch.
HSBC has initiated coverage of Auna (NYSE: AUNA), a Latin American healthcare provider, with a buy rating. The investment bank cited Auna’s profitable business model, compelling valuation, impressive secular growth, and short-term and organic growth opportunities. HSBC set its price target for the stock at $12.60.
Crowdfunding giant GoFundMe has expanded into Mexico, the 20th country it services. The company sees Mexico as a potential gateway to other untapped Latin American markets, given its large economy and close ties to the United States. Mexico’s high healthcare costs and history of natural disasters make it a logical fit for GoFundMe’s platform, which is often used for medical expenses and emergency aid. Prior to the expansion, American users had circumvented restrictions by creating campaigns on behalf of relatives in Mexico, but the new move is expected to ease the flow of funds between the two countries. Local crowdfunding platforms exist in Mexico, such as Donadora, but GoFundMe’s strong brand recognition, pricing, and security measures give it an edge.
