Business travel spending in Latin America is forecast to reach $63.9 billion in 2025, up 3.2 per cent on this year, according to new figures from the Global Business Travel Association (GBTA).
The findings, unveiled at the GBTA Latin America Conference in Mexico City last week, suggest the region — covering Central and South America and Mexico — will account for around 4 per cent of the global $1.57 trillion business travel market.
While the outlook points to growth, GBTA warned of persistent headwinds including low investment levels, widening fiscal deficits, high debt burdens and trade policy uncertainty.
The two-day event, now in its 17th year, drew nearly 500 delegates from 16 countries. Attendees included 180 buyers and 35 exhibiting suppliers, with discussions ranging from artificial intelligence to geopolitics, accessibility and global mobility.
The association also confirmed new leadership roles in the region. Mariana Pérez Ponce de Leon, based in Mexico City, will oversee operations in Northern Latin America, while Daniel Duarte, in Buenos Aires, takes charge of Southern Latin America.
“Daniel and Mariana are both recognised leaders in the industry with broad expertise serving and supporting the region,” said Suzanne Neufang, GBTA’s CEO. “With their guidance, Latin America’s business travel sector will continue to build on its recent successes and embark on a new phase.”
Brazil remains the powerhouse, ranking 10th globally for business travel spend in 2025, with Mexico 20th, Argentina 32nd, Peru 35th, Colombia 38th and Chile 47th.
Average spend per business trip in Latin America stands at $949, about 16 per cent below the global average. However, “blended travel” — mixing business and leisure — is more popular in the region, with 62 per cent of travellers extending work trips, compared with a global average of 59 per cent.
GBTA also reported strong confidence in the value of corporate travel, with 88 per cent of regional respondents saying business trips are essential to success.
Speakers highlighted both the promise and the vulnerabilities of the market. Dr. Denise Dresser, political analyst and professor, assessed the impact of US–Latin American relations, while other sessions explored accessibility, AI-enabled travel planning and risk management.
Recognition was also given to regional leaders and volunteers, alongside cultural showcases such as Huichol art demonstrations from Mexico’s Sierra Madre Occidental.
Professional development and sustainability remained high on the agenda, with initiatives including the GBTA WINiT programme for women in travel, a student scholarship fund, and the Sustainability Acceleration Challenge for companies pursuing net zero.
The data underscored the resilience of Latin America’s corporate travel sector, with spending expected to rise modestly next year. But with fiscal pressures and policy uncertainty clouding the outlook, GBTA warned that the industry will need to adapt quickly if it is to sustain momentum into 2026 and beyond.