Forecast: International Tourism Expenditures in Chile

Based on historical data, international tourism expenditures in Chile showed significant growth up to 2017, peaking at 4.06 units but experiencing a downturn to 3.59 units in 2018. The COVID-19 pandemic severely impacted 2020, resulting in expenditures plummeting by 72.31%. Recovery was evident from 2021 onwards, with a notable rebound in 2022 and 2023, reaching 3.75 units in 2023, representing a 16.46% year-on-year increase. The five-year CAGR through 2023 is approximately 0.84%.

Looking forward from 2024, expenditures are forecasted to remain relatively stable with slight annual declines, leading to a five-year CAGR of -0.22% by 2028. This indicates a modest downward trend post-2023, with expenditures slightly decreasing each year until 2028.

Future trends to watch for include:

• Potential fluctuations due to global economic conditions or travel restrictions.
• Influence of tourism policies and international relations on expenditure patterns.
• Environmental factors and their impact on tourist attraction management and expenditures.
• Development of new tourism offerings or improvement in infrastructure enhancing visitor inflow.