Tourism spending has established itself as a key driver for Colombia’s economy, as it represents the investment that travelers make in the country in aspects such as transportation, accommodation, food and cultural activities. This flow of resources not only promotes employment in the tourism sector, but also benefits local companies and allows reinvestment in infrastructure, improving the offer of services to attract more visitors.
“It should be noted that tourist spending depends on factors such as the purchasing power of travelers and currency exchange rates, but also on the offer of services and the conditions of the destinations. Therefore, articulated public-private work is what makes it possible for foreigners to choose Colombia over another country to vacation,” explained Paula Cortés Calle, executive president of ANATO.
During 2024, tourists from Switzerland, Aruba and the Dominican Republic stand out for the high average spending made during their stay in the country. In particular, Swiss tourism shows a growth of 15% compared to the same period in 2023, reflecting the increase in the interest of these visitors in Colombia. The main categories in which these countries concentrate their spending in the country include hotels, travel agencies and restaurants.
The executive president of ANATO emphasized that “tourist spending is a reflection of global trends, cultural preferences and the dynamism of the world economy. There is a factor that as a country we must take into account, and it is the importance of working to improve the conditions of different aspects in the sector so that Colombia is increasingly attractive abroad and the entry of foreign currency is more encouraged.”
This increase in tourist spending drives the entry of foreign currency to Colombia, strengthening the tourism sector and highlighting the relevance of joint strategies between the public and private sectors to attract more travelers.
Interview: The Impact of Tourism Spending on Colombia’s Economy
Interviewer (Time.news Editor): Welcome to Time.news! Today, we have the pleasure of speaking with Dr. Ana Maria Torres, an expert in sustainable tourism economics. Dr. Torres, thank you for joining us.
Dr. Ana Maria Torres: Thank you for having me. It’s a pleasure to be here.
Interviewer: Let’s dive right in. Recent data indicates that tourism spending is a significant driver of Colombia’s economy. Can you elaborate on how this investment from travelers manifests in local economies?
Dr. Torres: Absolutely! When tourists visit Colombia, they spend money on various aspects—transportation, accommodation, food, and cultural activities. This influx of cash leads to job creation within the tourism sector and stimulates local businesses. For instance, a tourist dining in a local restaurant supports not just the eatery but also local farmers and suppliers who provide the ingredients.
Interviewer: That’s fascinating. So, you would say that every dollar spent by a tourist has a ripple effect on the economy?
Dr. Torres: Precisely! The economic impact is quite extensive. It is not just about the immediate jobs created in hotels or tour operations; it extends to a myriad of sectors, including retail, agriculture, and arts. It’s a multifaceted boon that contributes to overall economic development.
Interviewer: You mentioned employment in the tourism sector. How does tourism spending influence job opportunities in other related fields?
Dr. Torres: Tourism generates a substantial number of direct and indirect jobs. For example, as more visitors explore Colombia, there’s a heightened demand for tour guides, hotel staff, and transportation providers. However, it also fosters jobs in sectors like construction—building new hotels or enhancing infrastructure like roads and airports—which are essential to accommodate the increased flow of visitors.
Interviewer: Speaking of infrastructure, how does tourism-related spending facilitate improvements in public services and facilities?
Dr. Torres: It’s a significant contributor. Increased tourism leads to greater tax revenues for local governments. With these funds, authorities can reinvest into public infrastructure—improving roads, public transportation, and even restoring historical sites. This not only enhances the tourist experience but also benefits locals who use these facilities.
Interviewer: Many people are concerned about the environmental impact of increased tourism. How can Colombia ensure that this growth is sustainable?
Dr. Torres: That’s an important consideration. Sustainable tourism focuses on minimizing environmental impact while maximizing economic benefits. In Colombia, this means promoting eco-friendly practices within the tourism sector, such as encouraging visitors to support local artisans rather than international corporations and promoting conservation efforts in natural areas. Developing policies that manage the number of tourists in sensitive locations can also help.
Interviewer: what do you believe the future holds for tourism in Colombia given these trends?
Dr. Torres: I’m optimistic! As long as Colombia continues to prioritize sustainable practices and invests in enhancing its tourist offerings, we can expect significant growth in this sector. It has the potential not only to boost the economy but also to foster cultural exchanges and reinforce Colombia’s identity on the global stage.
Interviewer: Thank you, Dr. Torres, for sharing your insights! It sounds like tourism will continue to play a pivotal role in Colombia’s development.
Dr. Torres: Thank you for the opportunity to discuss this important topic!
Interviewer: And thank you to our readers for tuning in. Join us next time for more insights on the economic developments shaping our world!