Argentina sees worst decline in tourism arrivals and receipts.

BY JOACHIM BAMRUD

Brazil is among the top winners in tourism in Latin America. It posted the strongest growth in receipts in real terms and the second-largest growth in arrivals in real terms (after Mexico) last year, according to a Latinvex analysis of new data for 2025 from UN Tourism (formerly known as the World Tourism Organization) and the government of the Dominican Republic.

It also posted the second-highest growth in receipts and arrivals in percentage terms (after Paraguay).

Brazil’s neighbor Argentina, meanwhile, posted Latin America’s worst declines in arrivals and receipts last year.

BRAZIL

Thanks to Brazil’s success, it now ranks as Latin America’s third-largest tourism market in terms of receipts (up from 4th in 2024).

Last year, those receipts reached $10.4 billion, a 24.4% increase from 2024. In real terms the increase was $2,046 million. That compares with growth in Mexico of $2,036 million.

Arrivals grew 37.1% to a record 9.3 million. In real terms that represented a 2.5 million increase. (Only Mexico saw a higher growth in real terms).

A big factor behind the growth was the appreciation of the Argentine peso which boosted arrivals from its neighbor.

The trend will likely continue this year. In the first seven months, receipts grew 9.3%, Valor Economico reports.

When measuring tourism receipts to Brazil’s overall economy, the ratio is only 0.32%, the lowest in all of Latin America. Likewise, arrivals per population stands at 4.4%, also the lowest in the region.

MEXICO

Mexico remains the king of tourism in Latin America, accounting for 36.3% of all visitors to the region and 24.9% of receipts.

Last year, Mexico welcomed 47.8 million international visitors, an increase of 6.1% from 2024.

Receipts grew 6.2% to $34.9 billion.

When measuring arrivals with population, Mexico’s ratio is 36%, which ranks among the top six in Latin America.

However, the receipts-GDP ratio is only 1.8%, which ranks 9th out of 17 countries.

DOMINICAN REPUBLIC

The Dominican Republic continues to boast the second-largest tourism market in Latin America after Mexico and ahead of Brazil and Colombia.

Last year the Caribbean set a new record with 11.7 million visitors, an increase of 4.3% from 2024, according to the Tourism Ministry.

In terms of receipts, they grew 3.2% to $11.3 billion, according to UN Tourism.

The ratio arrivals-population stood at 101.4%, the second-highest in Latin America after Uruguay.

Meanwhile, the receipts-GDP ratio reached 8.6%, the second-highest in Latin America after El Salvador.

This year will likely see another strong performance. Arrivals grew 7.5% through September, Diario Libre reports.

ARGENTINA

Argentina stood out as the worst performer last year. Arrivals fell 14% to 5.68 million, while receipts declined 2.2% to $4.85 billion.

The decline was spurred by a significant appreciation of the Argentine peso, which made it more expensive for foreign visitors (although it also boosted Argentine tourism abroad), La Nacion reported.

KEY WINNERS AND LAGGARDS

Apart from Brazil and Paraguay, other key winners in arrivals in percentage terms last year were Bolivia, Chile and Panama.

Key winners in receipts last year in percentage terms – apart from Brazil and Paraguay –were Chile, Uruguay and Panama.

Paraguay has seen strong growth driven by an influx of Brazilians looking taking advantage of lower prices.

Meanwhile, apart from Argentina, key losers in arrivals last year included Colombia and Nicaragua, the only other countries that saw declines.

© Copyright Latinvex

 

THE NUMBERS

Latin America Tourism (2025): Receipts

Latin America Tourism (2025): Arrivals

Latin America Tourism (2025): Receipts-GDP Ratio

Latin America Tourism (2025): Arrival-Population Ratio

Latin America Tourism Receipts (2025): Winners & Laggards

Latin America Tourism Arrivals (2025): Winners & Laggards

 

 

 

 

 

 

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