IDB and WTTC Launch Task Force to Boost Tourism in Latin America & Caribbean

In a bold step to harness the untapped potential of tourism across Latin America and the Caribbean, the Inter-American Development Bank (IDB) and the World Travel & Tourism Council (WTTC) have officially launched a new Tourism Task Force. The announcement was made during the Plenary Meeting of the Americas Business Dialogue (ABD), marking a milestone in the integration of travel and tourism into the region’s broader economic development strategy.

The initiative aims to position the tourism sector as a central pillar of regional economic recovery and sustainable development, by strengthening public-private partnerships, mobilizing investment, and crafting policy recommendations that generate measurable impact.

Strategic Vision: Tourism as a Development Engine

Facilitated by the IDB, the Americas Business Dialogue serves as a high-level, private sector-led platform to promote cooperation between governments and business leaders across the region. With tourism representing a multi-sectoral driver of growth, this new Task Force signals a strategic shift to embed the industry in the heart of the IDB's productivity and innovation agenda.

“This launch marks a milestone in integrating tourism into the productive agenda of the IDB and IDB Invest, recognizing its transformative potential for the region,” said Fabrizio Opertti, Manager of the IDB’s Sector of Productivity, Trade and Innovation. “In collaboration with our private sector partners and WTTC, we are working to deliver concrete results: more investment, jobs, and regional growth.”

Composition of the Task Force

The Task Force begins with a coalition of 22 influential companies and organizations, drawing on the strength and reach of major travel and tourism players. Founding members include:

• Marriott International

• Copa Airlines

• Grupo Aviatur

• The Leading Hotels of the World

• Anato Colombia

• Carnival Cruise Line

• Grupo PuntaCana

• COHEP (Honduras’ Private Business Council)

This diverse mix of hotels, airlines, cruise lines, and national business chambers ensures the Task Force has a robust foundation to influence regional tourism policy and project development.

Economic Significance of Tourism in the Region

According to the WTTC’s latest Economic Impact Research (EIR), the tourism sector contributed US$714 billion to the region’s GDP in 2024, generating more than 28 million jobs. Yet industry experts stress that these figures represent just a fraction of tourism’s broader potential.

“Travel & Tourism can become a core component of Latin America’s and the Caribbean’s economic model,” stated Christopher Imbsen, WTTC’s Vice President of Policy. “The region has a generational opportunity to put tourism at the center of their development agenda. With the ABD Task Force now in place, we can drive smarter investment, unlock growth, and deliver jobs and opportunity at scale.”

Tourism’s impact spans multiple economic layers—from hospitality and gastronomy to technology, logistics, creative industries, and finance. It also provides a unique opportunity to advance inclusion, promote digital transformation, and support territorial equity, particularly in rural and historically underserved communities.

Roadmap to Policy and Investment

The Task Force is not merely symbolic; it has a clear roadmap. The next key milestone will be the presentation of public policy proposals generated by the private sector at the CEO Summit of the Americas, scheduled for December 3–4, 2025, in Punta Cana, Dominican Republic.

These proposals aim to inform government strategies on tourism development, infrastructure financing, workforce training, sustainability practices, and cross-border collaboration. The CEO Summit is expected to draw heads of state, ministers, and top business leaders, offering a high-profile platform to align public policy with private sector insights.

Voices from the Region

The ABD plenary session that launched the Task Force featured several regional leaders:

• César Dargam, Executive Vice President of the National Council of Private Enterprise (CONEP)

• Tomás Bermúdez, IDB Regional Manager for Central America and the Caribbean

• Katharina Falkner-Olmedo, IDB Country Representative in the Dominican Republic

These voices reinforced the message that collaborative governance and regional coordination are vital to unlocking the full potential of the travel and tourism ecosystem.

A Forward-Looking Model for Sustainable Growth

Beyond jobs and GDP, the Tourism Task Force is a blueprint for sustainable development, inclusive growth, and economic diversification. It reflects a regional shift toward strategic planning that places tourism not at the margins, but at the center of public policy.

As the region faces mounting global challenges—climate change, shifting labor markets, and post-pandemic recovery—the tourism sector offers a unique mix of resilience, scalability, and local impact. With the leadership of the IDB and WTTC, the new Task Force could well become the engine that transforms tourism from a vulnerable sector into a powerful development catalyst for Latin America and the Caribbean.