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Latin America Business Travel Spending Forecast to Reach $67.7 Billion USD in 2026 as Growth Accelerates Amid Ongoing Economic Pressures

ByTara Erwin

At GBTA LATAM Conference 2026, industry leaders examine business travel’s growth, innovation, impact and resilience in the region

Business travel spending in Latin America is forecast to reach $67.7 billion USD in 2026, an increase of approximately 11% year over year and among the highest regional growth rates globally, according to research unveiled yesterday at the Global Business Travel Association’s(GBTA) LATAM Conference 2026 held in Mexico City.

Despite the near-term growth, the broader outlook in Latin America remains measured with regional spending growth forecast to slow to 3.3% in 2027 due to a high dependence on broader economic stability. Even so, the latest expectations underscore the resilience and strategic importance of business travel across Latin America.

The 18th GBTA LATAM Conference, held at Hotel Camino Real Polanco, brought together over 450 registered attendees representing 17 countries from Latin America and beyond, including 277 buyers and suppliers. The Expo featured 40 exhibiting companies.

This year’s Conference theme, “AI With Purpose: Reimagining Business Travel Through Human-Centric Innovation,” featured programming that combined research and leadership perspectives with practical education on the trends reshaping managed travel. Topics included artificial intelligence and data analytics, pricing and economic projections, traveler experience, sustainability, geopolitical risk and the growing pressure to demonstrate the return on every business trip. GBTA leadership and top executives from international companies such as Deloitte, Microsoft, and Qualcomm also offered their industry perspectives.

“Latin America has strong momentum and a clear opportunity to turn business travel growth into broader economic value,” said Katharine Farrell, Vice President, Americas. “The research points to rising spend and renewed confidence, while higher costs and geopolitical uncertainty reinforce the need for resilient, purposeful travel programs. The outlook is positive, but continued success will depend on smart planning and measurable returns. The conversations at this year’s Conference demonstrate the strength and optimism we’re seeing across the region.”

Latin America Outlook: Strong 2026 Growth, Moderation Ahead

Mariana Ponce de León, GBTA Regional Director, Mexico, Central America & Colombia, added, “The strong forecast reflects the essential role of in-person engagement in building customer relationships, entering new markets and strengthening organizations across the region,” said Ponce de León. “At the same time, travel programs must remain disciplined and focused on value as cost and risk pressures persist.”

Part of the Main Stage session was comprised of LATAM-specific research from the 2026 GBTA Business Travel Index (BTI) unveiled in August. Highlights included:

  • Business trip volume originating in Latin America is forecast at 64 million trips in 2026, up 1.5% year over year.
  • Mexico ranks 20th globally, with forecast spending of $10.4 billion USD in 2026.
  • Brazil, the region’s only market among the global top 15, is forecast to reach $35.8 billion USD in spending, an increase of 13.8% from 2025.
  • Argentina is forecast at $6.1 billion USD; Colombia at $5.5 billion USD, Peru at $5.9 billion USD and Chile at $3.4 billion USD.
  • Manufacturing, public administration and defense, construction, retail trade, and agriculture, forestry and fishing are among the sectors expected to show the strongest business travel growth in Latin America.

Business Travel Delivers Local Economic Value

Additionally, new findings presented from the just-released 2026 GBTA Global Cities Economic Impact Study demonstrate the significant value and impact for the destinations where business travel takes place.

Business travel to and within Mexico City generated $3.3 billion USD in industry revenue for the destination based on 2024 data, including $2.1 billion USD in direct contribution and $1.1 billion USD in indirect and induced contribution. It supported 50,858 jobs, generated $867 million USD in local value-added revenue and contributed $419 million USD in taxes. For every $1 USD spent on business travel in Mexico City, 41% remains in the local economy.

“These findings show that business travel’s impact is visible in local revenue, jobs, supplier activity and commercial growth,” said Daniel Duarte, GBTA Regional Manager, LATAM South. “The opportunity ahead is to sustain that momentum through smarter investment, strong regional partnerships and travel programs that balance growth with resilience.”

Increased Confidence Among LATAM Industry Professionals

Findings were also presented from GBTA’s September 2026 Industry Sentiment Poll which reflected the highest level of renewed confidence among global regions: 76% of Latin American travel industry professionals were optimistic about the next 12 months (although the regional sample was limited.)

Honoring Regional Volunteers and Board Service

The Conference also recognized the contributions of part of the 2026 GBTA LATAM Advisory Board. Chaired by Felipe Cardona, Travel Manager for the Americas at DHL, GBTA LATAM Advisory Board members Miguel Ruiz, Vice President, Solutions Advisory Americas at SAP; Mónica Crawfurd, Managing Director of Sales, CALA at Hilton; Estela Pedrozo, Director, Business Development & Corporate Solutions at Mastercard; and Conrado Sainz, Corporate Travel Global Coordinator at Exiros/Techint, provide strategic guidance and regional insight to support GBTA’s mission across Latin America.

Turning Insight into Action Across LATAM

Attendees also learned about the GBTA Foundation’s professional development and sustainability opportunities aimed at supporting a more sustainable, inclusive and resilient future for business travel:

  • GBTA WINiT, offering mentorships, events, workshops, awards and professional development opportunities for women in the business travel industry.  
  • The Sustainability Acceleration Challenge, a tool to support companies on their journey toward net zero travel emissions and to strengthen their sustainability efforts. 

Ways to Become Involved in GBTA

The Conference ended with a calendar of events taking place in LATAM and beyond, including the GBTA Europe Conference 2026, going on Nov 2-4 in Vienna, and upcoming GBTA 2027 LATAM events:

Business Travel Forums

  • March in Monterrey, Mexico
  • April in Santiago, Chile
  • May in Bogotá, Colombia
  • July in Guadalajara, Mexico
  • November in Buenos Aires, Argentina

The New Business Travel Summit

  • June in São Paulo, Brazil

GBTA is also planning Fundamentals of Business Travel Management and Advanced Principles of Business Travel Management in-person courses for Mexico and Brazil in the second half of 2027, as well as buyer-only webinars for the region.

For more information about the GBTA LATAM Conference, visit mexicoconference.gbta.org, and access pictures from the Conference in the coming days here.