Travelers to Colombia, renowned as the ‘Country of Beauty,’ are in for an extraordinary experience. With its majestic mountains and vibrant cities, Colombia offers a blend of attractions that make it both a must-visit destination and a prime spot for foreign investment in tourism in Colombia.
As the largest recipient of U.S. investments and a key trading partner with the United States, Colombia is solidifying its role in regional tourism. In 2023, the country welcomed over 6 million international visitors, establishing itself as the top destination for American travelers. With diverse landscapes and ongoing regional development, Colombia presents an exceptional opportunity for foreign investment in tourism in Colombia as we look toward 2025 and beyond.
Here are five compelling reasons why Colombia is set to be a leading destination for foreign tourism investments:
Leadership in Sustainable Tourism
Colombia stands out for its commitment to environmental conservation, regenerative travel, and community-driven experiences. “We take pride in our sustainable tourism policy, being one of just 12 countries globally with such a focus. With 10% of the world’s biodiversity, including diverse bird, butterfly, and orchid species, and coastlines on both the Atlantic and Pacific Oceans, our natural wealth is used to create unique tourism experiences that honor and protect life,” said Carmen Caballero, President of ProColombia.
Robust Air Connectivity
Colombia boasts extensive air connectivity with 1,400 international flights and 267,000 available weekly seats from international markets. With 27 airlines connecting the country to 28 countries across the Americas and Europe, travelers can access 49 international cities. Notably, the U.S. has over 380 weekly flights and 68,000 seats available, facilitated by major carriers like Emirates, United Airlines, Delta, American, and Avianca. New routes are being added, such as United’s Houston to Medellín and Avianca’s Chicago to Bogotá.
Growth in the Hotel Sector
The hotel sector in Colombia shows promising prospects for investors. Since 2019, Foreign Direct Investment (FDI) in hotel infrastructure has totaled $7.642 billion, making it the third-largest non-mining sector for FDI. Over the past five years, the sector’s GDP has grown by approximately 3.5% annually, reflecting resilience and recovery post-pandemic. In 2023 alone, the hotel sector attracted $1.05 billion in FDI, accounting for 8% of total non-mining investments. Major international hotel chains, such as Accor, City Express, Four Seasons, and Marriott, have expanded their presence, with nearly 320 new hotels and over 34,000 additional rooms added since 2010.
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Key Drivers of FDI Growth
Colombia’s tourism sector has seen significant growth, with a 14% increase in international arrivals from 2019 and a 34% rise from 2022, according to the World Travel & Tourism Council (WTTC). Tourism now ranks as Colombia’s second-largest foreign exchange earner, trailing only petroleum. In 2023, tourism revenue reached a record $9 billion, up 22.4% from 2022, driven by over 5.8 million non-resident visitors, significantly boosting the economy.
Exciting Investment Opportunities
Colombia offers ample potential for investment in infrastructure projects that enhance its nature, adventure, and wellness tourism. The country’s biodiversity supports eco-tourism ventures such as birdwatching and wildlife observation. With 53 million hectares of natural forests and other diverse landscapes, there are opportunities for eco-luxury accommodations and sustainable infrastructure. Investments in ecological trails, observation towers, and environmental management facilities can promote sustainable tourism while improving visitor experiences.
Colombia’s remarkable combination of natural beauty, sustainability, and growth makes it an enticing destination for foreign investment in tourism in Colombia. With its commitment to environmental conservation and a strong focus on community-driven experiences, the country is protecting its rich biodiversity and enhancing the quality of its tourism sector. Robust air connectivity ensures easy access for international travelers, while significant investments in the hotel sector and a surge in international arrivals underscore Colombia’s appeal. The growing influx of foreign investment in tourism in Colombia and the country’s thriving tourism industry highlights a promising future for investors looking to capitalize on Colombia’s evolving market. As Colombia continues to expand its infrastructure and tourism offerings, it presents unparalleled opportunities for those seeking to invest in a vibrant, sustainable, and rapidly growing industry. The fusion of stunning landscapes, a welcoming culture, and robust economic indicators positions Colombia as a top choice for foreign investment in tourism in Colombia in the coming years.
For more information about investment opportunities in Colombia, please contact:
Karen Schutt, Investment Director ProColombia USA, kschutt@procolombia.co
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