IDB and Jeju Province Partner to Modernize LAC Tourism and Energy

The collaboration prioritizes digital transformation in the tourism sector, moving beyond simple marketing to utilize artificial intelligence and data analytics. By adopting tools to monitor visitor activity and manage local resources, destinations can shift toward evidence-based decision-making. Jeju serves as a practical blueprint, offering lessons on balancing the interests of local communities with the demands of an international tourism industry.

Beyond tourism, the initiative addresses critical gaps in energy governance and institutional capacity. As nations modernize their power grids and integrate renewable energy, the focus shifts to creating robust regulatory frameworks. These structures are essential for ensuring that technological upgrades translate into reliable services for households and businesses. The IDB aims to adapt these Korean governance models to fit the diverse economic and social realities of Latin American and Caribbean markets, fostering cooperation that bridges the gap between policy design and local implementation.