The travel industry was a growing source of income, jobs and prosperity in Latin America before the pandemic hit in early 2020. The health crisis severely disrupted this growth, however, with the industry suffering crushing losses. Latin America is the fourth-most important region in the world for tourism, and many of the market’s travel merchants believe now is the time to begin rebuilding the sector and rethinking the payment methods and financial infrastructure they use to satisfy consumer demands.
In the March 2022 Global Merchants’ Guide to Latin America®, we examine current trends in the Latin American travel and financial industries, and the outlook for the rest of the year and beyond. The Guide offers insights and resources into how merchants in the space plan to develop robust payment capabilities that satisfy consumers’ demands.
Around the Latin American Merchants’ Space
Chilean-based LATAM Airlines recently announced its plan to add six new domestic flight routes in Brazil beginning in March 2022. This brings the number of Brazilian cities LATAM services to more than 50, with Brazil representing LATAM’s largest domestic market. Most of these new routes will depart from Sao Paulo’s Guarulhos International Airport, and flights to Sinop will depart from Brasilia International Airport. The new destinations will include Cascavel, Caxias do Sul, Juiz de Fora, Montes Claros, Presidente Prudente and Sinop. Start dates for these routes will be between March 29 and May 3. These new flight destinations will allow travelers to visit cities outside the typical sights and reach lesser-known destinations in Brazil that can benefit from tourism.
On January 17, Apple announced plans to expand Apple Pay further into the Latin American market, with banks in Argentina and Peru eager to join Apple’s mobile payments platform. Apple has not given a precise launch date for the feature in the two countries. However, the company lists Colombia, Costa Rica, Brazil and Mexico as countries supporting Apple Pay in the South American and Caribbean regions. When the expansion occurs, Argentina and Peru will be added to the list. Apple Pay has recently expanded to other countries, including Azerbaijan, Costa Rica and Colombia, which were added in November 2021.
For more on these and other Latin American merchant news headlines, read the Tracker’s News and Trends section.
Exquisito Perú on Serving Latin American Travelers’ Growing Digital Payment Needs
The pandemic has forever altered consumers’ travel and payment habits, especially in the tourism-centric Latin American region. The region has started to recover from the fallout, but some changes have occurred. Jessy Caiado, co-founder of Exquisito Perú, a small business specializing in food-themed tours in Peru, spoke with PYMNTS about trends in travel, payments processing and the Latin American business landscape for 2022 and beyond.
To learn more, visit the guide’s Feature Story.
PYMNTS Intelligence: The State of the Online Travel and Payments Industry in Latin America
Tourism has become one of the most significant contributors to economic development and job creation in Latin America. The pandemic put a damper on these developments, but there is evidence that an upswing is underway. Latin American consumers are spending more on digital platforms for streaming, shopping and gaming, and travel agencies, airlines and platforms that allow travelers to book lodgings are gearing up to meet their needs and wants.
This edition of PYMNTS Intelligence examines how the online travel and payments sectors in Latin America have evolved in the past two years and the direction the industry is likely to take in the future.
About the Tracker
The Global Merchants’ Guide to Latin America Tracker®, a PYMNTS and EBANX collaboration, examines the latest developments in the Latin American Merchants’ space.