Latin America has always had deep catholic roots in it and a large amount of people who passionately follow the Catholic faith, so with the correct leaders and enough motivation I could see a revival of Catholicism all across Latin America one day and it would spread across the entire land.
Catholicism has always been a major religion of Latin America, and now the religion has the benefit of not only having a South American pope, but a South American pope who is more in line with the societal norms of the modern era than the previous Anglo popes that held the throne.
Pope Francis brought Catholicism back to a street level religion. He gives people the idea that religion is a giving religion, not just a taking one. Pope Francis is from South America, so there have been suggestions that a Catholic Revival is impending. I think that people are willing to follow Pope Francis, but that does not necessarily mean they will follow Catholicism. Many people follow the teachings of the Buddha but are not Buddhists. This is the same.
I think there will always be a strong presence of Catholicism in Latin America. But as older generations die out, so will traditions. I think younger people these days are less willing to follow any religion and places such as Latin America are no exception. I also think there are more religions being followed in Latin America as well.
I do not think so. As the prosperity and education of the people across Latin America improves, they will become more awake of the failings of the Catholic church, and increasingly become disillusioned with the damage some of the churches teachings are causing to society. This will lead to them becoming more liberal, and turning away from the Catholic Church.