Dear Advisor Partners,
As the tourism industry in Peru is presently recovering, there are three things that jump out at me, which I will share as part I of our III part dispatch.
1. The revenue loss figure has been grossly understated. The Cusco region alone is 97% tourism-dependent, and an economy this fragile takes a huge hit when a major contribution to the GDP is halted. This is the latest illustration of something everyone, from the WTTC to industry leaders, has talked about for years.
2. Everything from Machu Picchu to the trains to airports and overland passes has reopened, and I commend those authors who posted the importance of visiting. The industry is indeed showing signs of a quick recovery, yet there is not enough education locally on how globally connected the Peru economy is, and the true contribution to GDP tourism provides. This was at the center of my need to visit Peru right now and share those conversations with you.
3. While the message is loud and clear that Peru is open for business, the most common question we are asked is about safety. The only way to illustrate the importance of tourism and the stabilization of the industry is leading by example and traveling to Peru with my family.
I write this while sitting with my wife and children in Machu Picchu to explore Peru and form new bonds with the locals. From day one, the gratitude felt by the locals to see us has shown through. I would even say their joy with the rebound in tourism is more powerful now than when the country reopened after the pandemic. It is that powerful.
We recorded a video today while at Machu Picchu because the story of any visit to Peru starts here. I used to think Peru needed tourism back, but I was wrong. Peru deserves tourism back.
Click Here to Enjoy Part I of our dispatch.