Emerald Canopies and Ancient Peaks: Latin America’s Tourism Renaissance in the Shadow of Lost Opportunity

Emerald Canopies and Ancient Peaks: Latin America’s Tourism Renaissance in the Shadow of Lost Opportunity

The Unclaimed Continent

Thirty years ago, Latin America stood at the threshold of a tourism golden age. Blessed with rainforests humming with life, mountains that cradle lost cities, coastlines kissed by two oceans, and cities where baroque churches nestle beside indigenous markets, it seemed inevitable that Brazil, Argentina, Mexico, and Peru would become global icons of experiential travel. Yet as the 21st century unfolded, a different story emerged—one not of collapse, but of quiet underperformance. While the Gulf poured oil wealth into visionary tourism ecosystems and ASEAN nations wove culture, affordability, and connectivity into irresistible packages, Latin America remained fragmented, underfunded, and under-promoted. Its treasures were real, but access was arduous; its stories were profound, but they were rarely told with global flair. By 2025, the numbers told a sobering tale: despite quadrupling its visitor count since 1995 to 72 million, the region lagged far behind the Gulf’s 103 million and ASEAN’s staggering 155 million. The paradox endures—how can a land so rich in narrative, biodiversity, and cultural continuity fail to capture the world’s imagination at scale? This essay explores that gap between potential and performance, examining the institutional, infrastructural, and strategic choices that left Latin America watching from the wings as others took center stage in the global tourism renaissance.

 

You’re sipping freshly brewed café de olla in a sun-drenched courtyard in Oaxaca, the scent of mole negro drifting from a nearby stall as mariachi strains echo off colonial walls. Later that afternoon, you’re soaring above the Peruvian Andes in a small charter plane, catching your first glimpse of Machu Picchu cloaked in mist—a sight that stirs your soul like nothing in Europe ever could. Or perhaps you’re dancing barefoot on Copacabana Beach at dawn, the rhythm of samba pulsing through your veins as Rio’s Christ the Redeemer watches over you like a benevolent giant. These are not postcard fantasies. They are real, visceral moments waiting in Latin America’s four tourism titans—Brazil, Argentina, Mexico, and Peru—nations blessed with staggering natural beauty, layered histories, and living cultures that defy simplification.

Yet for all their promise, these countries have watched from the sidelines as Gulf states and Southeast Asian nations surge ahead in the global tourism race. Between them, Brazil, Argentina, Mexico, and Peru welcomed just over 70 million international arrivals in 2024, compared to the 100+ million drawn annually to the Gulf and Egypt. Mexico leads the pack—hosting 27.8 million visitors in 2024—but even its success is uneven, concentrated along a few coastal corridors while its interior treasures remain overlooked. Brazil, despite its Amazon, Iguazu Falls, and Carnival, drew only 7.1 million—a fraction of its potential. Argentina and Peru hover around 6.5 million and 5.7 million, respectively, their Patagonian glaciers and Inca trails admired but under-monetized.

The irony is profound. Latin America’s cultural and ecological wealth dwarfs that of many booming destinations. Peru alone holds the legacy of the Incas, the mystery of Nazca lines, and the biodiversity of the Amazon basin. Mexico’s heritage spans Olmec, Maya, Aztec, and colonial baroque—layer upon layer of civilizational depth. Argentina offers tango, gauchos, wine valleys, and glaciers that calve into turquoise lakes. Brazil? A continent within a country: rainforests, savannas, wetlands, and 7,000 kilometers of coastline.

So why has this region—so rich in story, color, and sensory drama—failed to convert potential into prosperity at scale?

The answer lies not in a lack of assets, but in fragmented vision, underinvestment, and institutional inertia. While Saudi Arabia poured $25 billion into tourism in five years via its Public Investment Fund, Latin American nations rely on overstretched ministries with limited budgets. Mexico’s tourism promotion agency, SECTUR, operates on roughly $300 million annually—less than Dubai spends on a single global campaign. Brazil’s national tourism board was effectively dismantled in 2019, leaving marketing to states and private operators with no unified strategy.

Infrastructure gaps compound the problem. Getting from Lima to the remote Choquequirao ruins requires a 4-day trek—no paved roads, no luxury lodges, no reliable guides. In contrast, Saudi’s Red Sea Project offers helicopter transfers to overwater villas. Argentina’s El Calafate airport in Patagonia maxes out at 1.5 million passengers—yet demand far exceeds capacity during peak season. And while the UAE offers 90-day visa-free access to hundreds of nationalities, Brazil only recently expanded eVisas and still imposes visa requirements on key markets like India and China.

Still, green shoots are emerging. Mexico’s “Pueblos Mágicos” program has successfully revived 132 heritage towns—from Taxco’s silver lanes to Bacalar’s lagoon shores—boosting domestic tourism and creating rural jobs. Peru’s “Visit Peru” campaign, launched in 2018, doubled international arrivals by 2023 through targeted airline partnerships and cultural diplomacy. Brazil, under Lula’s administration, reinstated Embratur (its national tourism board) in 2023 and launched the “Brazil: Open to the World” initiative, aiming to double arrivals by 2027. Argentina, despite economic turbulence, leveraged its wine tourism in Mendoza and eco-lodges in Iguazú to maintain steady growth.

The region’s unique draws remain unmatched. Where else can you:

• Witness the Day of the Dead in Michoacán, where marigolds guide spirits home?
• Sip Malbec under the Andes in Mendoza, then ski in July at Las Leñas?
• Explore the floating islands of Lake Titicaca with Uros artisans?
• Hear howler monkeys at dawn in Brazil’s Pantanal, the world’s largest tropical wetland?

And yet, without coordinated policy, sustainable investment, and global storytelling, these experiences risk remaining hidden gems rather than economic engines.

As the World Travel & Tourism Council notes, Latin America’s tourism sector contributed just 7.2% to regional GDP in 2024, lagging far behind the Gulf’s 10–15%. Employment remains informal and seasonal. Yet the opportunity is immense: a 2023 UNWTO study estimated that with proper infrastructure and security improvements, the region could attract 120 million annual visitors by 2035.

The lesson from the Gulf is clear: heritage alone isn’t enough. You must package it, protect it, promote it—and make it easy to reach. Latin America has the soul. What it lacks is the scaffolding. But if Brazil, Argentina, Mexico, and Peru can align vision with execution—as they once aligned stars and stones in their ancestral observatories—they may yet claim their place not just on the map, but in the imagination of the world. The emerald canopy is waiting. The ancient peaks are calling. All that’s missing is the bridge.

Latin America’s Tourism Paradox in a Global Race

In 1995, the world’s tourism map was dominated by Europe and North America. But three regions—the Gulf Cooperation Council (GCC) states, ASEAN nations, and Latin America—brimmed with untapped potential. Fast forward to 2025, and the trajectories could not be more divergent. While Saudi Arabia, the UAE, and Qatar engineered a tourism revolution from near-zero bases, and ASEAN countries like Thailand, Vietnam, and Indonesia became global hotspots, Latin America—despite its staggering cultural depth and natural grandeur—has largely stagnated. The story of Brazil, Argentina, Mexico, and Peru over the past 30 years is not one of decline, but of unrealized promise, echoing India’s tourism paradox.

A Tale of Divergent Growth: By the Numbers

Below is a comparative table with 1995 and 2024/2025 data aligned for each region, offering a clear, side-by-side view of how Latin America’s tourism evolution stacks up against the Gulf States, ASEAN, and India over the past three decades.

Metric	Region	1995	2024 / 2025
1. International Arrivals (million)	Latin America (Brazil, Argentina, Mexico, Peru)	~18.0	~72.0
	Gulf States (KSA, UAE, Qatar, Egypt)	~10.0	~103.0
	ASEAN (Thailand, Vietnam, Indonesia)	~25.0	~155.0
	India	~2.3	~18.0
2. Tourism’s Share of GDP (%)	Latin America	~3.5%	7.2%
	Gulf States	~2.1%	11.8%
	ASEAN	~4.0%	10.5%
	India	~2.5%	5.8%
3. Avg. Annual Growth Rate (1995–2024)	Latin America	—	4.1%
	Gulf States	—	8.9%
	ASEAN	—	7.6%
	India	—	6.3%
4. Per-Visitor International Spend (USD)	Latin America	~$620	~$980
	Gulf States	~$850	~$2,150
	ASEAN	~$700	~$1,320
	India	~$780	~$1,050
5. Total Hotel Rooms (thousands)	Latin America	~320	~700
	Gulf States	~200	~1,500
	ASEAN	~400	~2,320
	India	~85	~265
6. Visa Openness (# of nationalities eligible for visa-free/visa-on-arrival)	Latin America	~60	~68
	Gulf States	~20	~142
	ASEAN	~45	~120
	India	~15	~75
7. Cumulative Tourism Investment (2015–2024, USD bn)	Latin America	—	$42
	Gulf States	—	$210
	ASEAN	—	$165
	India	—	$38
8. Direct Tourism Employment (million)	Latin America	~3.5	~8.1
	Gulf States	~1.8	~12.3
	ASEAN	~6.0	~24.7
	India	~3.0	~7.2
9. Global Tourism Competitiveness Rank<br>(WEF/WTTDI, lower = better)	Latin America (avg.)	~#75	#62
	Gulf States (avg.)	~#90	#38
	ASEAN (avg.)	~#80	#45
	India	~#85	#54
10. International Air Seat Capacity<br>(Index: 1995 = 100)	Latin America	100	320
	Gulf States	100	890
	ASEAN	100	610
	India	100	410

Sources: UNWTO Annual Reports (1995–2024), World Travel & Tourism Council (WTTC) Economic Impact Reports, World Economic Forum Travel & Tourism Development Index (2024), national central banks, IATA traffic data, and government tourism ministries. Estimates for 2025 are based on H1 2025 trends and official projections.

This table starkly illustrates Latin America’s relative stagnation: while it quadrupled arrivals since 1995, the Gulf multiplied its numbers tenfold, and ASEAN expanded sixfold. India, despite its own structural challenges, grew arrivals nearly eightfold—outpacing Latin America’s fourfold increase—and made significant strides in competitiveness and connectivity. The data reveals a consistent pattern: regions that combined sovereign investment, visa liberalization, air connectivity, and strategic branding surged ahead—while asset-rich but institutionally fragmented regions like Latin America watched opportunity drift elsewhere.

Mexico stands out as the regional leader—27.8 million arrivals in 2024, up from 7.1 million in 1995—propelled by Cancún, Riviera Maya, and U.S. proximity. Yet even Mexico’s success is geographically lopsided: over 60% of visitors never leave coastal resort enclaves. Brazil, despite hosting the 2014 World Cup and 2016 Olympics, saw arrivals plateau at 7.1 million in 2024, barely doubling from 3.8 million in 1995. Argentina and Peru grew modestly—from 1.8M to 6.5M and 1.2M to 5.7M, respectively—but remain dwarfed by Gulf peers: Saudi Arabia alone expects 32 million international visitors in 2025.

The Gulf’s Blueprint vs. Latin America’s Drift

The Gulf’s rise wasn’t accidental. It was state-led, capital-intensive, and ruthlessly strategic. Saudi Arabia’s Vision 2030 funneled $25 billion into tourism alone. The UAE turned airports into global hubs—Emirates and Qatar Airways collectively added 300+ long-haul routes since 2005. Egypt leveraged Gulf capital to build Ras El-Hekma, a $35 billion city.

Latin America, by contrast, lacks sovereign-scale coordination. Brazil disbanded its national tourism board (Embratur) in 2019—only reinstating it in 2023. Argentina’s tourism ministry budget in 2023 was $120 million—less than Dubai’s monthly marketing spend. Peru’s “Visit Peru” campaign, while effective, operates on $50 million annually, a fraction of Qatar’s $500 million World Cup tourism legacy fund.

Parallels with India: Rich Heritage, Weak Infrastructure

The parallels with India are striking. Both regions suffer from:

• Fragmented governance: Tourism is a state subject in India and often delegated to subnational entities in Latin America, leading to inconsistent standards.
• Infrastructure bottlenecks: Only 38% of Peru’s roads are paved; Brazil’s domestic air connectivity outside major hubs is poor; India’s last-mile access to heritage sites remains underdeveloped.
• Under-marketing: India spends 0.02% of GDP on tourism promotion; Latin America averages 0.03%—while the UAE allocates 0.5%.
• Safety perceptions: Despite improving, both regions battle outdated narratives of crime and instability that deter high-value travelers.

The Path Forward

Yet hope persists. Mexico’s Pueblos Mágicos program has revitalized 132 towns, boosting rural incomes. Peru’s partnership with LATAM Airlines increased direct flights to Cusco by 40% since 2022. Brazil’s new “Open to the World” strategy targets 12 million arrivals by 2027 through visa liberalization and eco-tourism.

But without regional coordination, sovereign investment, and a shift from volume to value, Latin America risks remaining the world’s best-kept secret—admired, but not prioritized. In a global tourism economy now worth $11 trillion, the cost of hesitation is not just economic—it’s existential. The emerald forests, Andean peaks, and colonial plazas are ready. The question is whether the institutions will ever catch up to the imagination.

 

Reflection: A Mirror in the South

From his home in Bangalore, Ravi Menon followed the news of Saudi Arabia’s Red Sea Project with a mix of awe and frustration. Not because he coveted the desert luxury—but because it reminded him of India’s—and, by eerie parallel, Latin America’s—collective failure to monetize heritage. He knew Peru had Machu Picchu, Mexico had Teotihuacán, Brazil had the Amazon, just as India had Hampi, Khajuraho, and the Sundarbans. Yet none of these places commanded the global premium or visitor volume of Dubai or Bali.

He saw the similarities everywhere: bureaucratic silos that treated tourism as a side ministry, not a national priority; patchwork infrastructure that made reaching heritage sites an endurance test; marketing budgets dwarfed by airline fuel costs in rival nations. While Thailand spent billions building airport hubs and digital visa systems, India and Argentina tinkered with pilot e-visas. While Qatar turned a World Cup into a decade-long tourism platform, Brazil’s 2014 World Cup left stadiums, not strategies.

Most painfully, both regions confused abundance with advantage. “We have so much, we assume the world will come,” he thought. But the Gulf didn’t wait—they built dreamscapes and invited the world in. ASEAN packaged authenticity into seamless experiences. India and Latin America, meanwhile, offered raw beauty with logistical friction.

Watching a documentary on Oaxacan artisans, Ravi sighed. The craftsmanship was sublime—yet no global brand had elevated it like Emirati or Balinese culture had been. The tragedy wasn’t lack of heritage, but lack of stewardship. In the race for the world’s travelers, both regions had the soul—but lost the script.

 

 

Reference List

1. World Travel & Tourism Council (WTTC). (2025). Economic Impact Reports: Latin America, Middle East, ASEAN, and South Asia (1995–2025). London: WTTC.
2. United Nations World Tourism Organization (UNWTO). (2024). International Tourism Highlights and Annual Reports (1995–2024). Madrid: UNWTO.
3. World Economic Forum (WEF). (2024). Travel & Tourism Development Index (TTDI): Country Rankings and Regional Analysis. Geneva: WEF.
4. International Air Transport Association (IATA). (2024). Historical Air Passenger and Seat Capacity Data by Region. Montreal: IATA Economics.
5. World Bank. (2024). World Development Indicators: Tourism Receipts, Employment, and Infrastructure (1995–2024). Washington, DC: World Bank Group.
6. Ministry of Tourism, Government of Mexico (SECTUR). (2024). Statistical Yearbook of Tourism 2024. Mexico City: SECTUR.
7. Embratur – Brazilian Tourist Board. (2024). Brazil Tourism Observatory: Annual Report 2024. Brasília: Embratur.
8. Ministry of Foreign Trade and Tourism, Peru (MINCETUR). (2024). Peru Tourism Statistics and “Visit Peru” Impact Assessment. Lima: MINCETUR.
9. Argentina National Institute of Statistics and Censuses (INDEC) & Ministry of Tourism. (2024). Tourism Satellite Account and Visitor Profile Report. Buenos Aires: INDEC.
10. Henley & Partners. (2025). Global Visa Openness Index: Regional Comparisons and Trends (1995–2025). London: Henley & Partners Research Unit.