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Tourism is linked to new dynamics of capital accumulation in a wide variety of destinations worldwide, boosting the attraction of real estate investments. In Latin America, the state promoted tourism, advocating for the commodification of urban land leading to the regeneration of different historical centers, and then to displacement and segregation of the local population. Heritage recognition policies were a necessary part of triggering this trend, articulated with other urban dynamics, such as gentrification. Visual dimension of built environment understood as an urban landscape is a key in tourist and residential practices, as well as in investment strategies. Following an instrumental multiple study case strategy based on primary and secondary sources, and by fieldwork including interviews and photographic record, this article analyzes touristification in Antigua Guatemala (Guatemala) and Cartagena de Indias (Colombia), drawing on the theoretical concept of urban extractivism, and its relation with heritagization and gentrification processes. Both cities were founded during the colonial period, went through a heritagization process and are now consolidated as international tourist destinations. As a conclusion, touristification is considered as an expression of urban extractivism based on the reification of the built environment, in turn rooted on heritage recognition policies, overlapped with gentrification. [ABSTRACT FROM AUTHOR]