Tourism
From The Report: Peru 2015
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With the Peruvian government intent on diversifying the economy away from mineral resources, the tourism sector is slowly becoming a strategic economic contributor. The sector has experienced unprecedented development in the past decade. According to the Ministry of Foreign Trade and Tourism in 2013 international arrivals increased 11% to 3.16m, a growth rate above the regional (5.1%) and world averages (4.6%) as measured by the World Travel and Tourism Council. Peru hopes to reach 3.5m foreign visitors in 2014. Sector revenues also rose by an impressive 28% in 2013, from just over $3bn in 2012 to $3.9bn, making tourism the third-most-important source of revenue to the national economy. Government efforts to bridge the transport infrastructure gap are set to improve connectivity significantly, while rising demand for accommodation and services, in large part fuelled by a growing meetings, incentives, conferences and events segment, is driving investment in the hotel industry.

This chapter contains an interview with María del Carmen de Reparaz, Vice-Minister of Tourism.

Articles from this Chapter

Overview

Investment in transport and niche segments supports growth potential
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Featuring many attractions, from the iconic Machu Picchu to the Andes Mountains, the Pacific Ocean shores to the Amazonian forest, the tourist offering in Peru is rich and diverse, complemented by its internationally renowned cuisine and rich Inca heritage. In recent years, tourism, traditionally a neglected sector in Peru, has experienced unprecedented development, driven by increased institutional support and a dynamic private sector. Rising public spending as part of the government’s efforts…

Interview

María del Carmen de Reparaz, Vice-Minister of Tourism: Interview
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Interview: Maria del Carmen de Reparaz What infrastructure segments most need upgrading to enhance the tourism sector’s potential? MARÍA DEL CARMEN DE REPARAZ: The country’s infrastructure deficit is taking a toll on the economy as a whole, and not just on tourism. For the necessary projects to be developed, and in the shortest amount of time possible, there has to be a high level of cooperation from all branches of the public sector, not only those ministries directly tasked with executing…

Analysis

With a series of large events on the horizon, efforts are under way to expand MICE infrastructure
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Though still relatively small, Peru’s meetings, incentives, conventions and events (MICE) segment has grown at a stable pace in recent years. According to estimates by the National Chamber of Tourism (Cámara Nacional de Turismo, CANATUR), revenues generated by the segment are expected to reach $300m by end 2014. A series of events scheduled for upcoming years is set to provide a major boost to the segment, not only increasing revenues significantly, but also contributing to establishing Peru,…

Analysis

Hotel investment on the rise to meet growing demand
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An increasing number of tourists as well as large-scale events scheduled for the coming years is spurring significant investment across the hotel industry, as Peru prepares to meet rising demand. Growth prospects are attracting investment from international and local investors alike, generating alliances between the two. Meanwhile, the government is continuing its efforts to streamline bureaucratic procedures in order to further facilitate investment in the sector. Hotel Stock Peru’s hotel capacity…