Analysis of Tourism in Selected Latin America Countries

Given the continued growth in tourism over the long run, this paper intends to explore this topic within the Latin America region. In doing so, the tourism will be assessed over 4 indicators, namely: average expenditures on tourism per one tourist, revenues per one inhabitant from incoming tourism, number of tourists per 1000 inhabitants, and most importantly, Travel and Tourism Competitiveness Index (TTCI). As the level of tourism is expected to vary among the Latin America countries, groupings of similar tourism profiles will be constructed. To do so, hierarchical clustering using the Ward's criterion will be employed. Finally, cluster description along with projection of cluster results into a cartogram will be presented.