Travel and Tourism in Colombia to 2020

Published: June 2016
No. of Pages: 113
    ReportsandReports

Summary

Due to weak local currency, more Colombians are expected to opt for domestic trips over outbound travel in 2016. The weak peso will also continue to support the growth of inbound tourism. International arrivals grew by 16.3% in 2015. Furthermore, a ceasefire agreement to put an end to the 50year conflict between the government and FARC rebels has been signed in June 2016. This is expected to have a significant positive impact on international arrivals.

Key Findings

  •  The Colombian travel and tourism sector continued its strong growth track in 2015. Inbound tourism has registered impressive growth over the last few years: 8.2% in 2013, 7.4% in 2014, and 16.3% in 2015, driven by Colombia's improved safety. The growth can also be attributed to the weak Colombian currency in 2015. International arrivals totaled 2.3 million in 2015 and are projected to grow at a CAGR of 6.7% over the forecast period (20162020) to reach 3.2 million by 2020. However, the depreciating currency adversely impacted international departures. Outbound trips fell by 1.3% in 2015 and expenditure declined by 0.6%. Over the forecast period, domestic trips are projected to grow at an average annual rate of 5.7%, to reach 32.6 million by 2020. Outbound trips are expected to reach 5.1 million by 2020
  •  The Colombian Government intends to exempt foreign tourists from the 16% sales tax (VAT) on tourismrelated services. In February 2016, President Juan Manuel Santos announced at the tourist fair, Anato, that "Already the decree is prepared which exempts from VAT those who visit us from the outside and those who buy tour packages associated with health tourism, tourism events, or related to cultural activities". Santo added "it is good news for travel agents to sell more and at a better price". This new tax policy is now effective
  •  Congestion at the county's largest airport El Dorado airport at Bogota is the major challenge for Colombia in supporting air traffic growth in the coming years. El Dorado was originally designed to handle 15 to 17 million passengers a year but it had to handle 30 million passengers in 2015. There have been efforts (new terminals opened in 2012 and 2014) to ease congestion by expanding capacity. Furthermore, there are plans to construct another airport "El Dorado II" by 2021 with an investment of US$375 million

Synopsis

Canadean's report Travel and Tourism in Colombia to 2020 provides detailed information on the country's tourism sector, analyzing market data and providing insights. This report provides a better understanding of tourism flows, expenditure, and the airline, hotel, car rental, and travel intermediaries industries.

What else does this report offer?

  •  Historic and forecast tourist volumes covering the entire Colombian Travel and Tourism sector
  •  Detailed analysis of tourist spending patterns for various categories, such as accommodation, sightseeing entertainment, foodservice, transportation, retail, travel intermediaries, and others
  •  Analysis of trips by purpose and mode of transport, and expenditure across various categories including domestic, inbound, and outbound tourism, with analysis using similar metrics
  •  Analysis of the airline, hotel, car rental, and travel intermediaries industries by customer type leisure and business travelers

Reasons To Buy

  • Make strategic business decisions using historic and forecast market data related to Colombia's Travel and Tourism sector
  • Understand the demandside dynamics within the industry to identify key market trends and growth opportunities
  • Direct the promotional efforts on most promising markets by identifying the key source and destination countries

Published By: GlobalData
Product Code: Canadean12202


Did you find what you are/were looking for ? If not, read below and browse through other relevant pages for similar market research reports OR get in touch with us through the form/contact info in your right navigation panel and well share relevant market report titles for you to explore.

Related Reports:

  • Global Traditional Bar Chairs Sales Market Report 2017

    In this report, the global Traditional Bar Chairs market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022. Geographically, this report split global into ...

  • Global Luxury Yacht Market Professional Survey Report 2017

    This report studies Luxury Yacht in Global market, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, revenue, consumption, import and export in these regions, from 2012 to 2016, and forecast to 2022. Thi...

  • Global Hammocks Market Research Report 2017

    In this report, the global Hammocks market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022. Geographically, this report is segmented into several key Re...

  • Global Restaurant Furniture Market Professional Survey Report 2017

    This report studies Restaurant Furniture in Global market, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, revenue, consumption, import and export in these regions, from 2012 to 2016, and forecast to 2022...

  • Global Restaurant Chairs Market Research Report 2017

    In this report, the global Restaurant Chairs market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022. Geographically, this report is segmented into sever...

  • Global and Regional Luxury Yacht Market Research Report 2017

    Summary Yachts with length greater than 79 feet are known as luxury yachts. They are mainly used for recreational purposes which are equipped with modern convenience features such as ACs, TV, navigation aids, radar, echo-sounding, autopilot, and r...

  • Global Luxury Mega-yachts Market Research Report 2017

    In this report, the global Luxury Mega-yachts market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022. Geographically, this report is segmented into seve...

  • Youth Team, League, and Tournament Sports: Market Shares, Strategies, and Forecasts, Worldwide, 2017 to 2023

    The 2016 study has 633 pages, 288 tables and figures.  Worldwide youth sports markets are poised to achieve significant growth as travel teams become more popular and families learn to enjoy time together during a weekend sporting event.  E...

  • Global Roller Coaster Market Research Report 2011-2023

    Summary which is a type of amusement ride that employs a form of elevated railroad track designed with tight turns, steep slopes, and sometimes inversions People ride along the track in open cars, and the rides are often found in amusement parks a...

  • Global and Regional Roller Coaster Market Research Report 2017

    Summary which is a type of amusement ride that employs a form of elevated railroad track designed with tight turns, steep slopes, and sometimes inversions People ride along the track in open cars, and the rides are often found in amusement parks a...


Why ReportsnReports.com?

  • 500,000 market research reports and growing.
  • Top Fortune 500 Organizations trust us for research data.
  • 24/7 support on call as well as emails.
  • Your Details are safe with us.
  • Free support for your research requirements.
  • Report Delivery: Email
  • Delivery Time:
    • Upto 24 hrs - working days
    • Upto 48 hrs max - weekends and public holidays

Research Support / Custom Research

If this business study does not have the data and information analysis you need, contact us with your research requirements. We explore available market research reports to map your needs and share report titles with you. Alternatively, we can also offer custom research that suits your budget and timelines. Share your information requirements here.
Connect With Us
Email: sales@reportsandreports.com Call : + 1 888 391 5441

Subscription Option

Using our subscription option, you get access to market research reports and industry data of Consumer Goods market as per your needs. Get the best of Consumer Goods research reports by utilizing your research budgets in an optimum way.

More about our Subscription option
Report Alerts

Get Email alerts about market research reports from industries and publishers of your interest: