The Latin American travel market is experiencing robust growth, with Brazil leading the charge. According to a new report from Phocuswright, the leading travel industry research authority, the region’s travel market expanded for the third consecutive year in 2023, with gross bookings rising 29% to $70.1 billion.
Brazil’s travel industry saw a remarkable 37% jump to $21.8 billion, fueled by growing stability, declining poverty levels, and improving economic conditions under President Luiz Inácio Lula da Silva. The country’s airlines, the largest travel supplier segment, carried 21 million international passengers, a 38% increase from the previous year.