Expedia Group: Sales in Latin America and the Caribbean confirm the good moment of the region
The global travel platform is undoubtedly today a great thermometer of reality in the industry
Numbers of different consultants have been agreeing on the recovery at a good pace of the different markets in Latin America and Expedia Group is one of the companies that is helping the most in regional growth. To find out the details, we have exclusively interviewed the Vice President of Latin America and the Caribbean of Expedia Group, Freddy Domínguez. We share his interesting responses below:
How do you find the business in Latin America and the Caribbean at the moment?
We at Expedia Group, on time, are on track to have our best year in 2022, at this rate there is no reason in the short, medium and long term that can change the plans. We are growing in double digits compared to 2019. There are countries like Mexico and the Dominican Republic in which we represent about 20% of tourism, so we are a thermometer of what is happening. There are countries that are taking longer than others to improve, but everything is on track. There are even countries with challenges that go beyond the pandemic with economic problems. Another challenge is connectivity, Mexico is the only Latin country that returned to pre-pandemic levels. Colombia too, but in general aviation in Latin America has suffered and especially in regional flights.
Why do you think we are in such a favorable situation in our region?
Latin America has become a much more attractive alternative especially for the American traveler, that is to say that there is a geographical issue and it is a great fortune to be close to the largest issuer in the world. In addition, most of the people who are going to travel in the coming months are looking for destinations of relaxation and peace and that is where Latin America is the world leader. At the same time, it must be taken into account that travelers have already lost their fear, they have already seen that leaving their country and crossing the border allows them to vacation in an interesting and economically sustainable way.
As you refer, there are very good numbers in the region and there are still several segments to be reactivated, what is your vision in this regard?
We do not have a crystal ball, but what we are seeing is that the MICE industry is taking flight again, there are events where work is already taking place almost as in the pre-pandemic era and corporate travel is also resuming. In fact, the executives of many multinational companies are traveling more than ever to reconnect with their work teams.
How is your structure in the region?
Expedia Group has a presence in 27 countries in Latin America, we have a large office in Buenos Aires and we have offices in Cancún, Bogotá, CDMX, Santo Domingo and Punta Cana. In other markets we are working with officials remotely.
What teaching or message does the pandemic leave in your opinion?
What we are very clear about is that as a result of the pandemic we saw an impressive acceleration towards digitizing processes. In terms of distribution, an interesting wave is coming now, because the operation of hoteliers has a lot to evolve in that field. That's why we've introduced products that help hotel partners streamline their everyday tasks.
It is a fact that those who do not have investing in innovation among their priorities are putting their vision and long-term recovery.