New IAAPA chair Gerardo Arteaga has said that Latin America will become a "huge market" for the attractions middle class once the region stabilises.

Arteaga, general manager of Fantasilandia in Santiago, Chile, was introduced as the new IAAPA chair for 2015 earlier this week and has been in the Latin American attractions sector since 1977.

"It could be time because the middle class is growing and that's the main driver of the industry worldwide, that's why China is growing so dramatically," said Arteaga speaking exclusively to AM2. "But the thing that is important for Latin America is stability because these investments need to have a very long runs in terms of 10 to 20 years.

"In Chile we have a strong operation there because it's very stable in the last four years which gives you the chance to plan in advance. As soon as Latin America becomes stable and the middle class grows, it will become a huge market because of the amount of people there."

Arteaga's comments echoed those recently made by Forrec's Gordon Grice, who also said that Latin America is poised to become a major market for the attractions industry in the coming decade.

Speaking on the wider industry, Arteaga added that the future was "as bright as ever," praising the sector's worldwide growth.

"We have a product with a long story," he continued. "It's hard for an industry that's been growing for 200 years to keep growing but I think this industry reinvents itself on a regular basis and that keeps the product fresh."

Attractions Management and AM2 are both on hand for IAAPA 2014 in Orlando to provide live coverage throughout the week. Check back here for all the latest breaking news, which is sure to excite the attractions sector from some of the industry's biggest and brightest names.