Latin America will not be immune to the global recessionary conditions predicted for the second half of 2023, but the region's economic growth and hotel industry performance indicate recovery despite lagging pockets.
"At the start of the pandemic, we thought Latin America was especially vulnerable to external shocks and that we wouldn't be able to recover GDP until 2024," Adriana Arreaza, director of macroeconomic studies at Banco de Desarrollo de America Latina, said during a hotel and tourism investment forum in Cartagena, Colombia. Even if a global recession occurs, a slowing of inflation is expected to help business prospects.
