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Latin America
We´re always hearing how bad the economy is…sovereign debt crises, recessions and the recent earthquake has surely shaken things up. Literally. However, there is one economy that is thriving, and that my friends is the lucrative Latin American market. In 2010, the region saw a 6.6 percent growth, more than tripling the US´s.
And people are catching on. COPA Airlines recently increased flights going between Latin American and the Bahamas, committing 20,000 seats. Executive of the Bahamas Hotel Association Frank Comito sees the enormous Latin American population as an extremely profitable market.
“The population of Latin America is over 500 million people (the combined population of the US and Canada just under that.) They represent around 2 percent of our total visitor population to the Bahamas today,” said Comito.
By increasing flights, that percentage is guaranteed to rise. And as it has been pointed out a countless number of times, the Hispanic population is growing, and is clearly here to stay. If companies are wise, they will do as COPA has done, and increase their outreach toward this flourishing, virtually untapped market.
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