Wikipedia: Magic Realism

Magic realism (or magical realism) is a literary genre in which magical elements appear in an otherwise realistic setting. As used today the term is broadly descriptive rather than critically rigorous. The term was initially used by German art critic Franz Roh to describe painting which demonstrated an altered reality, but was later used by Venezuelan Arturo Uslar-Pietri to describe the work of certain Latin American writers. The Cuban writer Alejo Carpentier (a friend of Uslar-Pietri) used the term “lo real maravilloso” (roughly “marvelous reality”) in the prologue to his novel The Kingdom of this World (1949). Carpentier’s conception was of a kind of heightened reality in which elements of the miraculous could appear without seeming forced and unnatural. Carpentier’s work was a key influence on the writers of the Latin American “boom” that emerged in the 1960s….

c.f. New Weird and Speculative fiction