UNWTO’s Exciting New Tourism Investment Guidelines for Chile

The tourism sector in Chile experienced a remarkable 52.9% growth in income in 2022, according to new research from the UNWTO. This demonstrates Chile’s status as a top destination for investors, with ample opportunities and some challenges arising from both national and global economic conditions. The latest edition of the UNWTO “Tourism Doing Business: Investment Guidelines” was launched during the 2nd Tourism Investment Forum of Chile on December 7, where it highlighted the main attributes of the country as a tourist destination and an attractive place to invest in the sector.

• Chile boasts a free market, diversified and resilient economy, openness to global trends, and support for innovation readiness.
• Its solid macroeconomic fundamentals have allowed Chile to stay resilient in the face of changing global conditions, particularly in the mining sector.
• The post-pandemic recovery in tourism has shown impressive growth, representing 6.6% of total employment in the Chilean economy.

UNWTO Secretary-General Zurab Pololikashvili emphasizes the focus on Chile as a productive year for the organization, promoting investment in tourism, especially in the Americas. The UNWTO Guidelines showcase the enormous opportunities the tourism sector offers for investors and the way in which investment is key to building a more sustainable, inclusive, and future-proof sector.

• In 2022, there was a 31% increase in the flow of foreign direct investment (FDI) in Chile, guided mainly by the reinvestment of profits and the expansions of capital.
• Chile is ranked in the top 10 in Latin America and the Caribbean in greenfield FDI investment announcements in tourism.
• The Ministry of Public Works has advanced projects worth USD 4.188 billion until 2026 to support sustainable tourism.

Chile also stands out for the development of its innovation and entrepreneurship ecosystem, with support institutions and a focus on digital transformation and innovation in the tourism field, including awards for innovative tourism products from the National Tourism Service.

The guidelines highlight the factors that make Chile an attractive value proposition for investors, including the quality of its infrastructure, its entrepreneurial ecosystem, sustainable industries, and its various tourist attractions. This includes nature tourism, adventure, and astrotourism, which stands out due to its clear skies.