Chile Facility Management Market Report and Forecast 2024-2032

Chile Facility Management Market Outlook 

The Chile facility management market size is expected to grow at a CAGR of 5.10% between 2024 and 2032.                                      

Key Takeaways

• The tourism and hospitality sector made a substantial contribution of over 2.6 trillion dollars to the city's economy in 2022, accounting for 1.7% of its total economic output. This signifies a remarkable growth of 54% compared to 2021.

• In July 2022, Chile experienced a notable surge in tourist arrivals, with around 571 thousand visitors to hotel establishments, marking the highest figure since March 2021 and reflecting a 40% increase compared to the previous year.

• The Undersecretary of Tourism projects a resurgence in foreign tourist arrivals, estimating approximately 3,483,121 arrivals in 2023, reaching pre-pandemic levels. These optimistic forecasts for Chile's tourism sector are anticipated to create abundant opportunities for facility management service providers, driving significant demand in the market.

Government-led construction projects and a growing focus on green building practices are driving demand for the Chile facility management (FM) services. The expanding tourism industry is also fuelling this demand, particularly from hotels, resorts, and accommodation facilities. Additionally, steady growth in commercial and industrial development is projected to support Chile facility management market growth, necessitating both hard and soft facility management services. However, low awareness of integrated facility management benefits hinders market growth, prompting many companies to shift from in-house management to professional firms. 

The pandemic has emphasised the need for facility management services, especially in cleaning, disinfecting, and sanitisation. Post-pandemic, as restrictions ease, there's a surge in demand for professional sanitisation and disinfection services. Integrated services dominate the FM industry due to their simplicity and financial certainty for customers, although few players offer them directly, leading to limited revenue generation in this segment and playing a pivotal role in the Chile facility management market development. 

The facility management companies have opportunities abound, especially in the commercial and hospitality sectors, driven by the tourism industry's growth. With the rise of IT-based facility management companies and growth in tourism and healthcare industries, the future outlook is promising. Moreover, the Chilean government's "Let's Invest in Chile" plan aims to stimulate public investment and attract foreign investment, including public-private partnerships. This initiative, along with efforts to reduce stalled construction projects, is expected to lead to significant investments in public infrastructure, creating further opportunities for facility management market vendors.

Market Segmentation

Chile Facility Management Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Outsourced facility management is further divided into single FM, bundle FM, and integrated FM.

Competitive Landscape

Key players in the facility management in Chile develop and provide products and services aiding the end-users to obtain advanced and improved services and facilities.

• Cushman & Wakefield, Inc.

• CBRE Inc.

• ISS A/S

• Linkes Chile S.A.

• Aramark

• Sodexo

• MANCORP Ltda.

• EULEN Group

• Others

Key Highlights of the Report