The most common way for Argentinians and Brazilians to travel abroad is now in a family group, it was revealed at WTM Latin America this week.
This type of travel has been rising in popularity since 2010 and, in Peru and Colombia, family trips accounted for almost half of all leisure outbound trips in 2014. Leisure outbound trips in Latin America posted a 7% Compound Annual Growth Rate (CAGR) between 2003 and 2013, while leisure domestic trips registered a 4% CAGR.
Latin America has witnessed a decline in birth rates and an increase in annual disposable income per capita – at the same time, parents now have less time to spend with their children and so family trips gain importance as a way to enhance parent-children relationships.
The ‘Have what I did not’ approach means that newer generations of parents in Latin America, who grew up in times of unfavourable economic and social conditions, now have increased disposable income and so want to give to their children what they did not have when they were young, including international travel.
As a result, family travel is set to be a lucrative industry in Latin America, as survey results indicate that parents are willing to pay extra for children’s activities – more willing, in fact, to pay for children’s activities than for almost every other type of trip add-on.