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Chile Tourism Report Q1 2014 - New Market Research Report

Fast Market Research recommends "Chile Tourism Report Q1 2014" from Business Monitor International, now available


Boston, MA -- (SBWIRE) -- 12/23/2013 -- The Chile tourism report examines the strong long-term potential currently being offered by the local tourism industry, bolstered by continuing strong levels of government support, but cautions that growth in tourist arrivals may moderate slightly from 2013 onwards, as tourists to Latin America may choose to travel to Brazil instead, given that it is hosting the football World Cup in 2014 and then the Olympic Games in Rio de Janeiro in 2016.

The report also analyses the growth and risk management strategies being employed by some of the leading players in the Chilean accommodation sector, as they seek to maximise the tremendous growth opportunities being offered by the local market at the present time.

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Preliminary figures from Sernatur (the Ministry of Tourism) indicate that tourist arrivals in the first nine months of the year totalled 2.59mn. This represents a slight year-on-year decline, with arrivals having fallen by 1.0% from the same period in 2012. This is likely to reflect slower arrivals from neighbouring Argentina, since the economic crisis in that country has worsened. Arrivals from Argentina fell by 3.3% y-o-y over the first nine months of the year. We expect overall arrivals to Chile to pick up in the last quarter of the year, as Chile heads into its traditional high season during the summer months.

Chile's upcoming presidential and legislative elections in November 2013 are unlikely to affect the tourism industry. All presidential candidates are in consensus about the importance of the tourism sector to Chile's economy and are unlikely to introduce any major policy changes. Indeed, leading candidate, Michelle Bachelet, who served as president between 2006 and 2010, is likely to continue the policy of promoting Chile's tourism and funding infrastructure development. The elections themselves are unlikely to be accompanied by any upsurge in protest activity that could deter tourists from visiting.

Over the last quarter, BMI has revised the following forecasts and views:

- BMI has revised up its forecasts for air transport passengers, projecting the total to rise to 17.81 passengers by 2017, indicating considerable value in the sector.
- Hotel industry value is forecast to grow minimally in 2013 and 2014, by 0.76% and 0.98%, but will pick up strongly in 2015, growing by 8.63% to total US$4.69bn. We believe this demonstrates the positive long-term fundamentals of Chile's accommodation industry.
- Arrivals from Latin America will slow in 2013, albeit to a still healthy 7.06% from an impressive 16.5% in 2012. This more moderate growth will impact on overall arrivals growth, which we forecast will reach 7.0% in 2013.

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