"In a complex and uncertain global context, with challenges derived from the post-pandemic era, global geopolitics, and the need to progress towards a sustainable transition, Chile remains an attractive destination for investments. Thanks to its strategic location, solid political frameworks, and commitment to sustainable development, Chile has the ability to turn challenges into opportunities." Natalia Bayona, Executive Director World Tourism Organization
The investment guideline "Tourism Doing Business, Investing in Chile" highlights the main attributes of Chile as a tourist destination and as an attractive place to invest in the sector. The country is characterized by its free market, diversified and resilient economy, its openness and understanding of global trends, as well as its support mechanisms for innovation and the adaptation of the business ecosystem to the new trends. In addition, it has an advanced and constantly developing infrastructure, a wealth of landscapes and natural diversity, a vibrant culture and an exciting gastronomy and wine offering.
ECONOMIC OUTLOOK
This report highlights Chile's economic strength, especially its solid macroeconomic fundamentals and its prudent management of the country's wealth. This approach has allowed Chile to maintain strong resilience in the face of changing global conditions and move towards a gradual diversification of its economy, with mining, particularly copper, as a key sector. In the tourism sector, the country shows a notable post-pandemic recovery, with a 52.9% growth in the sector's income in 2022 compared to the previous year. Furthermore, the employment generated by this sector represents 6.6% of total employment in the Chilean economy.
FDI PERFORMANCE
The second chapter of the guide describes the investment landscape in Chile, highlighting a 31% increase in the flow of foreign direct investment (FDI) in 2022 compared to the previous year, guided mainly by the reinvestment of profits and the expansions of capital. This reflects confidence in the country and its future. As for investments in tourism, these are also growing. Chile is ranked in the top 10 in Latin America and the Caribbean in greenfield FDI investment announcements in tourism. In addition, the country focuses on improving key enablers in the development of the sector through the Special Infrastructure Plan of the Ministry of Public Works to Support Sustainable Tourism to 2030 (Plan Especial de Infraestructura del Ministerio de Obras Públicas de Apoyo al Turismo Sustentable a 2030), with projects worth USD 4,188 million until 2026.
Chile also stands out for the development of its innovation and entrepreneurship ecosystem, with support institutions such as the Production Promotion Corporation (Corporación de Fomento de la Producción - CORFO) and the Technical Cooperation Service (Servicio de Cooperación Técnica - SERCOTEC), which offer lines of credit and competitive funds for ventures and companies. In the tourism field, the Chilean government promotes investments in digital transformation and innovation, including awards from the National Tourism Service (Servicio Nacional de Turismo - SERNATUR) for innovative tourism products.
VALUE PROPOSITION
This investment guide also describes the reasons why Chile is an excellent option to invest, including its internationally recognized economic strength, its quality infrastructure, its entrepreneurial ecosystem, its focus on sustainable industries, and its tourist attractions, such as nature tourism, adventure and astrotourism, which stands out due to its clear skies, ideal for astronomic observation. The third chapter also provides an overview of business taxes and specific incentives for tourism investments in the country.
GREEN INVESTMENTS OUTLOOK
The fourth chapter focuses on green or sustainable investments in Chile, highlighting the country's strategies and commitments towards sustainability, including the transition towards carbon neutrality and the promotion of energy efficiency and resource conservation projects in the tourism industry.
COMPETITIVE OUTLOOK
Finally, this investment study concludes by analyzing Chile's competitiveness in the tourism sector, highlighting its recognition in international rankings, among which it stands out that
Chile is the best-positioned country in Latin America and the Caribbean to do business according to the World Bank, and the region's top ranker in the travel and tourism index from the World Economic Forum; making it a great place for investing in the tourism sector.
