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New Market Study Published: Chile Tourism Report Q1 2013

Fast Market Research recommends "Chile Tourism Report Q1 2013" from Business Monitor International, now available


Boston, MA -- (SBWIRE) -- 02/11/2013 -- 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 is 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 tourism sector (airlines and hotel chains), as they seek to maximise the tremendous growth opportunities being offered by the local market at the present time.

Looking at trends in 2012, arrivals over the first eight months increased by 16.4% year-on-year (y-o-y) to reach 2,338,214, according to figures from the Servicio Nacional de Turismo Chile (Sernatur). This leaves the country well-placed to meet BMI's forecast of 3.53mn tourist arrivals for the current year.

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Commenting on the 8M12 figures, Chile's Under-Secretary for Tourism, Jacqueline Plass, said that arrivals for the month of August had reached their highest level since 1988. Speaking to Mercopress, Plass added that these strong tourist arrivals figures reflect the results of 'promotion work displayed in a joint effort by the government and the private sector in those markets which we have selected as priorities: Argentina, Brazil, US, Spain, UK, France, Germany, Peru, Colombia and Australia'.

These marketing campaigns have clearly borne fruit. According to Plass, arrivals from Argentina were up by 30% y-o-y over 8M12, from Colombia up by 25.5%, from Brazil up 19% and from Spain up by 15.5%. This performance is especially impressive, at a time when Argentina, Brazil and Spain are all suffering slowdowns in their own domestic economies.

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

- BMI has extended its forecast period for tourist arrivals out to 2017. BMI believes that Chile will be welcoming some 4.9mn tourists by the end of its newly-extended forecast period, having surpassed the government's target of 4mn tourists during 2014.
- BMI has also revised upwards its forecast for tourist arrivals from Brazil, in light of the continued strong increases in arrivals seen over the past six years. BMI is now predicting an 85% increase between 2012 and 2017, to reach 729,000 tourists.
- BMI welcomes the October 2012 launching of 'Emprendete Turismo' by Sernatur - an online search tool providing support and information to tourism companies operating in Chile.

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