Forecast: Internal Tourism Expenditure on All Goods or Services in Chile

Between 2016 and 2023, Chile's internal tourism expenditure on all goods and services exhibited significant fluctuations. From $8.82 billion in 2016, it increased steadily each year until reaching a peak value of $11.19 billion in 2018, before a slight decline in 2019 to $9.98 billion. The impact of the COVID-19 pandemic in 2020 resulted in a dramatic drop to $4.75 billion. Recovery commenced in 2021 at $5.95 billion, accelerating in 2022 with a substantial 67.05% increase to $9.93 billion. By 2023, expenditure levels approached pre-pandemic levels, reaching $11.37 billion, signaling a robust recovery with a year-on-year growth of 14.49%.

Over the last two years (2022-2023), there was a significant recovery post-pandemic with a total year-on-year rise of 81.54%. The compounded annual growth rate (CAGR) over the last five years was an impressive 33.77%, illustrating a resilient rebound. Looking forward, the data forecasts moderate annual growth up to 2028, with a CAGR of 1.77% and an overall projected growth of 9.17% during this period, indicating continued stability and consistent growth in the tourism sector.

Future trends to watch for include shifts in consumer preferences toward sustainable tourism, increasing digital and technological integration in travel services, and continued fluctuations due to global economic conditions and potential geopolitical events.