With an estimated USD 20 billion in GDP, Peru’s tourism revenues in 2024 are set to grow by 10 pc over 2023, says WTTC in its Economic Impact Research report.

Peru’s travel and tourism industry will generate over USD 20 billion in revenues in 2024, marking a 10 pc increase from 2023 levels, says World Travel and Tourism Council (WTTC) projections.

According to WTTC’s Economic Impact Research (EIR) 2024, the sector will represent 1.07 million jobs in the country at the end of 2024, that is 6 pc of the total jobs in Peru.

WTTC says that spending by international visitors will reach USD 4.2 billion, an increase of 19.6 pc compared to 2023. Likewise, spending on domestic tourism is expected to reach USD 10.7 billion, more than 8 pc above the previous year.

The statement says that Peru travel and tourism sector contributed more than USD 18 billion to the national GDP, which represented 6.8 pc of the economy.

During 2023, the activity also reinforced its workforce and represented 1.04 million jobs, which represented 5.9 pc of total jobs in Peru. Likewise, international tourism spending reached a figure of USD 3.5 billion, almost 8 pc above the 2022 figure.

WTTC says that national tourism spending registered almost USD 10 billion, which is an increase of more than 2 pc compared to the previous year.

“Peru’s travel and tourism sector continues to advance steadily with positive figures, which is encouraging for social development and the growth of the national economy. However, coordinated work between the government and the private sector is essential,” says Julia Simpson, President and CEO of WTTC.

The WTTC estimates a promising future for the next decade, characterised by solid growth and unprecedented professional opportunities. It is estimated that by 2034, the sector in Peru will contribute USD 31.5 billion to the economy, which will represent 8.4 pc of the national GDP.

WTTC says that Peru’s tourism sector will also represent a pillar for the generation of jobs, providing employment to more than 1.32 million people. In this way, 6.4 pc of Peruvian workforce will be represented by the travel and tourism sector.