Forecast: Production in Travel Agency and Tour Operator Activities Sector in Chile

The Travel Agency and Tour Operator Activities sector in Chile experienced notable fluctuations in production values between 2013 and 2023. The sector's production stood at 435.78 Billion Chilean Pesos in 2023. From 2013 to 2017, the sector showed significant growth, particularly in 2014 with a year-on-year increase of 49.02%. However, it saw a downturn in 2015 with a slight decline of 2.71%. The period between 2016 and 2017 marked a recovery and substantial growth, peaking in 2017 with a 22.64% increase. Over the last five years, the sector has had an average annual growth rate (CAGR) of 3.26%.

From 2018 to 2023, the sector experienced varied growth. The year 2018 saw a decline of 6.3%, whereas 2019 had modest growth at 4.81%. The impact of the COVID-19 pandemic in 2020 led to a sharp decline of 14.43%, followed by a recovery phase starting in 2021 with an increase of 11.62%. Production growth remained steady in 2022 and 2023, with increases of 14.22% and 2.67%, respectively.

Future trends to watch for include:

• Steady forecasted growth with a 5-year CAGR of 2.04% from 2024 to 2028.
• A moderate total growth rate of 10.61% over the next five years.
• Potential impact of global travel trends and economic conditions post-pandemic.