Summary Colombia's tourism industry has been growing fast in recent years, partly due to a cease fire deal with the FARC, on track to be finalised in September 2016, and a weak peso. In 2015, the country saw a 16.3% increase in terms of international arrivals, which now stand at 2.3 million. It will see further growth to 3.2 million tourists in 2020, at an average annual rate of 5.6%
Key Findings The US is Colombia's number one source market, with 429,000 visitors in 2015, and saw double digit growth in the last two years. Although VFR is popular amongst American tourists, Americans are also visiting Colombia for medical treatment, as the cost is significantly lower than in their home country. Spain is Colombia's European largest market, with 101,000 visitors in 2015. The European market will be one of the fast growing markets in the future and total arrivals from Europe are expected to reach 566,900 in 2020. The airline industry in Colombia is booming and the number of sold seats is forecast to growth from 43.4 million in 2015 to 63.3 million in 2020, a total increase of 46% in five years. However, Colombia has a low LCC penetration rate (10% in 2015), which makes air travel to Colombia expensive. Viva Colombia is the largest LCC in Colombia with an 8% share in 2015, and has been growing rapidly since it started in 2012.
Synopsis Destination MarketInsights: Colombia provides detailed information on the Colombian inbound 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.
Reasons To Buy - Make strategic business decisions using historic and forecast market data related to Colombia's Inbound Travel & Tourism sector - Understand the demand-side dynamics within the industry to identify key market trends and growth opportunities - Direct promotional efforts on the most promising markets by identifying the key source and destination countries
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