Travel and Tourism in Colombia: Key Trends and Opportunities to 2016

Synopsis

The report provides comprehensive and in-depth analysis, information and insights related to tourist flows in Colombia, including:

• Analysis of factors that influence demand in the Colombian travel and tourism industry
• Historic and forecast tourist volumes covering the entire travel and tourism industry in Colombia
• Detailed analysis of domestic, inbound and outbound tourist flows by geographic region and purpose of travel

Summary

Colombia is the sixth-most-visited country in Latin America, registering 1.6 million international arrivals in 2011. In terms of the Americas, the Travel and Tourism Competitive Index (TTCI) ranked Colombia as the 15th most-attractive destination to develop business in the travel and tourism industry in 2011. The Colombian travel and tourism industry contributed 1.8% to national GDP in 2011, and directly accounted for 2.5% of the country’s total employment. According to the World Travel & Tourism Council (WTTC), investments in travel and tourism reached COP6.4 trillion (US$3.4 billion), which represents 4.7% of the total national investments in 2011. During the review period the total number of trips undertaken by residents registered a CAGR of 3.25%.

Scope

This report provides an extensive analysis related to tourism demands and flows in Colombia:

• It details historical values for the Colombian tourism industry for 2007–2011, along with forecast figures for 2012–2016
• It provides a comprehensive analysis of travel and tourism demand factors with values for both the 2007–2011 review period and the 2012–2016 forecast period
• The report makes a detailed analysis and projection of domestic, inbound and outbound tourist flows in Colombia

Reasons To Buy

• Take strategic business decisions using detailed historic and forecast data related to tourist flows in Colombia
• Understand the demand factors within the Colombian travel and tourism industry, along with key market trends and growth opportunities
• Analyze the domestic, inbound and outbound tourist flows by geographic region and purpose of visit

Key Highlights

• Colombia is the sixth-most-visited country in Latin America, registering 1.6 million international arrivals in 2011.
• The Colombian travel and tourism industry contributed 1.8% to national GDP in 2011, and directly accounted for 2.5% of the country’s total employment.
• Tourism is the third-largest foreign exchange earner in Colombia after oil and coal. Tourism revenue grew 50% in the last six years, from US$2 billion in 2006 to US$3 billion in 2011.
• Colombia is gaining in prominence as the leading destination for meetings, incentive, conventions and events (MICE) travel in Latin America. The country’s suitable infrastructure, large capacity, cost-effective services and tourist attractions are making Colombia a key destination for business tourism.
• Medical tourism in Colombia is gaining in popularity due its highly-qualified medical professionals and advanced healthcare technology. The government expects to gain US$270 million in revenues through medical tourism in 2012.