With a history dating back to 1959, the Inter-American Development Bank (IDB) is the primary source of financing for the development of Latin America and the Caribbean (LAC), where it strives to enhance the quality of life for people. It provides loans, grants, and technical assistance to its 26 member borrowing countries. Additionally, it fosters a knowledge repository in the various sectors in which it operates, through research and studies.

The IDB prioritizes social inclusion and equality, productivity and innovation, as well as regional economic integration in its development work across LAC. It also addresses cross-cutting issues of gender equality and diversity, climate change, and environmental sustainability, in addition to institutional capacity and the rule of law.

Due to its socio-economic significance, tourism is one of the key sectors for achieving the IDB's development goals in the region.

The IDB maintains a strong commitment to achieving measurable results. The Tourism Law Observatory aligns with this commitment, serving as a pioneering tool in the LAC region to strengthen the available empirical evidence on tourism regulation as a policy instrument.