Chile Tourism Economics Minister Juan Jose Alvarez predicts that tourism in Chile will overtake its production over the next decade, citing the country’s booming tourism sector.
Alvarez said that tourism is the most important industry for Chile and its economy will continue to grow even if the current recession continues.
“We expect tourism to overtake tourism as the most critical sector of the economy and will continue expanding even if our economic recovery is still not fully underway,” he said.
The Chilean Tourism Economy Minister said that the growth in the sector will be driven by the growth of new companies, which will boost tourism revenues and increase the number of visitors to the country.
“If this is not the case, the industry will continue growing even without new companies,” Alvarez said.
Alvinas statistics show that Chile’s tourism sector is expected to grow by 20% over the same period.
Alvias forecasts also include new investments by Chilean businesses, particularly in the tourism sector, which have already been supported by the countrys government.
Allevas forecast of growth in tourism in the future is based on a three-year average of growth of 5%.
Alvares Tourism Economics minister also predicts that Chile will reach the top of the tourism rankings within the next five years.
In the past, Chile has enjoyed a strong tourism sector that generated billions of dollars for the country and its people.
The country also had a tourism boom in the past decade.
The tourism sector grew by more than 1,000% in 2016 and is projected to increase by more like 1,200% in 2019, according to Alvarez.