Tourism
From The Report: Colombia 2013
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An improved perception of security has boded well for Colombia’s tourism sector. Identified as a strategic growth area in the National Development Plan, the sector has grown consistently in the past few years, earning $21.2bn in 2012 and accounting for 5.3% of GDP, a figure expected to reach 5.4% in 2013, making the sector the third-most-important source of foreign currency behind oil and coal. Some 1.7m visitors entered Colombia in 2012, a 7% increase from the previous year and nearly double the global growth rate of 4%. Given these positive indicators, the government has ambitious plans to boost the annual number of visitors to 4m by the end of 2014, for which it set aside a budget of $373.8m. Ecotourism and the global meetings industry have displayed the most potential for growth.

Articles from this Chapter

Overview

On the verge of change: Strong promotion and attractive policies boost sector potential
OBG
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While social and political instability have inhibited Colombia’s development in the past, aggressive policies over the last decade have made significant strides towards improving both the economy and security. Communicating this change to the global community has been challenging but so far successful. The travel and tourism industry has continued to grow, earning COP35.3trn ($21.2bn) in 2012 and accounting for 5.3% of GDP, according to the World Travel and Tourism Council (WTTC). In terms…

Analysis

Broad expansion: Convention centres in regional cities on the rise
OBG
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In May 2013 tour associations and the business community received confirmation of what many already expected – Colombia keeps growing as a prime destination for the global meetings industry. In its latest annual report, the International Congress and Convention Association (ICCA) ranked Colombia as the fourth most popular destination among Latin American countries, having held 138 major events in 2012. The meetings, incentives, conferences and exhibitions (MICE) segment has grown exceptionally…

Analysis

A natural market: Rich biodiversity and government incentives boost ecotourism
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As the second-most-biologically-diverse country on the planet, it is unsurprising that Colombia holds considerable nature tourism potential. In the past, however, Colombia’s socio-political conflicts have prevented this segment from fully developing. Only recent security and social stability has allowed attention to shift towards responsibly exploiting the country’s abundant natural resources, an agenda that now enjoys government support and displays growing opportunities. GROUNDWORK:…