UNWTO steps up tourism investment promotion in Latin America

LATIN AMERICA The United Nations World Tourism Organization and Inter-American Development Bank are deepening their cooperation on tourism development in Latin America, renewing the effort to strengthening governance and promote investment of tourism in the region.

The cooperation program aims to reinforce governance and tourism policy in Uruguay, Brazil, Argentina, Paraguay and Chile by providing reliable and harmonized tourism indicators and data. The project is part of both organizations’ objectives of improving national tourism statistics systems and accelerating regional integration.

In the area of tourism governance, UNWTO and IDB will collaborate on a framework for tourism governance at national and regional level. Special attention will be given to tourism promotion organizations.

The third activity is focused on the promotion of direct private investment, as well as on public investment strategies. Research will be carried out on the key factors driving private investment decisions, including legislation, fiscal policy, credit lines, warrants, administrative procedures and capital movement. In the area of public investment, UNWTO and the IDB will focus on the transversal character of tourism and the fact that most investment decisions which impact the sector are taken by multiple areas of government.