Peru’s inbound tourism generated US$4.895 billion in 2018

Travel and Tour World | April 08, 2019

Peru welcomed 4.4 million foreign tourists last year generating US$4.895 billion in revenue in 2018.In terms of revenue, this is a 7% increase compared to the previous year while in terms of foreign tourists this is a 9.6% rise compared to 2017.The majority of visitors came from Chile and the United States. Together, they accounted for 50% of the total.Likewise, Peru is the fourth nation that receives the largest number of international sightseers after Argentina, Brazil, and Chile.In line with growth rates, the number of lodging establishments in the country —by December 2018— reached 22,157 (+0.4%), privately-run Foreign Trade Society (ComexPeru) has informed. Furthermore, ComexPeru pointed out 117 tourist sites, museums, and protected areas have been identified at national level.

Spotlight

Forecasting is a decision-making tool that helps businesses cope with the impact of the future’s uncertainty by examining historical data and trends. Businesses across every industry need to forecast components of their operations, and that is particularly important, and challenging, in times of uncertainty.

Actionable forecasts in the Travel and Hospitality industry bring particular value: how many guests will arrive and when, how to staff accordingly, adjusting inventory positions, modelling the impact of promotions/events on business performance, optimising pricing/revenue management, and projecting revenue/cash flow.

Forecast too high and the business will be inefficient with resources: likely buying too much product, facing potential spoilage or waste, while also missing opportunities to invest capital elsewhere.

Spotlight

Forecasting is a decision-making tool that helps businesses cope with the impact of the future’s uncertainty by examining historical data and trends. Businesses across every industry need to forecast components of their operations, and that is particularly important, and challenging, in times of uncertainty.

Actionable forecasts in the Travel and Hospitality industry bring particular value: how many guests will arrive and when, how to staff accordingly, adjusting inventory positions, modelling the impact of promotions/events on business performance, optimising pricing/revenue management, and projecting revenue/cash flow.

Forecast too high and the business will be inefficient with resources: likely buying too much product, facing potential spoilage or waste, while also missing opportunities to invest capital elsewhere.

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