The Leisure Factor

French hotel company Accor is renovating the Hotel Casino Carrasco in Montevideo in order to convert the historic property into a Sofitel luxury resort and spa.

The Latin Tourism Index from Latin Business Chronicle shows the total impact of foreign tourism on a series of countries in the region.Using 2009 data from the World Tourism Organization and the International Monetary Fund, the index measures tourism receipts as a percent of the Gross Domestic Product, tourism arrivals as a percent of the population, as well as the growth in tourism receipts and arrivals.
Beyond the numbers, the index offers insight into the impact of foreign tourism on each country’s economy and the pace of growth in international tourism. The top-ranked country is Uruguay, whose beaches in towns like Punta del Este are especially popular draws, particularly for citizens of neighboring Argentina, but which overall has been broadening its visitor base.
Although Mexico ranks lower on the list, internal activity has made tourism one of the country’s top industries and an important source of jobs.
Brazil may be at the bottom of the ranking but foreign tourism was worth some $6 billion in 2010, according to preliminary estimates.

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