Colombia is the 32th largest economy in the world and the 4th in Latin America. According to “Doing Business” within the Latin American and Caribbean region, Colombia is:
- 1 in getting credit
- 1 in protecting minority investors
- 3 in registering property
- 3 in resolving insolvency
- 4 in ease of doing business.
Macroecomic stability index World ranking 2017-2018, Colombia ranks 62. With a population of 49.8 million in 2018, Colombia is the 28th most populated country in the world and the 3rd in Latin America.
Colombia was officially accepted (2018) as a full member of the OECD.
HOTEL INFRAESTRUCTURE AND TOURISM
The main benefits for investments in this sector include an income tax exemption for a period of 30 years. This exemption applies to new hotel projects and also for those remodeled and/or expansion projects which began between 2003 to December 2017. There are incentives for companies established in the most affected areas by the armed conflict – ZOMAC, regulated by decree 1650 of 2017. These are territories where special fiscal incentives were established for companies that are located in the most affected areas by the armed conflict. Companies that settle in these areas will receive a reduction in the income tax until 2027.
Arrivals of non-resident foreigners to Colombia increased from 1,591,120 in 2012 to 2,288,342 in 2015. It has showed an average increase of 16.3% in 2015 compared to 2014. One of the highest in the region. (Migration Colombia, 2015).
- The impressive performance of the Colombian economy.
- The increase of international tourism arriving to Colombia is above the world’s average.
- Appealing incentives for hotel project investments.
- Strategic location and accessible air connectivity.
- Increasing hotel demand and supply.
- Committed workers with outstanding training and education.
- Colombia’s tourist destinations are renowned around the world and provide unique experiences.
- More hotel project ventures as a result of the arrival of more multinational companies.
The above are some of the reasons why you should invest in the hotel infrastructure in Colombia. Take a close look at these and other investment advantages to choose Colombia for your next project.
In 10 years, it is expected that tourism will double, reaching 8.8 million tourists, prioritizing former conflict zones.
The hotel and infrastructure sector has the following products to attract investment:
Wellness: Development of hotels devoted to improve and support health. Construction of thalassotherapy, hot springs, spas and beauty centers (Business Plan, Wellness Tourism – PTP)
Boyacá, Santander, Norte de Santander, La Guajira, Atlántico, San Andrés y Providencia, Bolívar, Antioquia, Cultural Coffee Landscape, Bogotá.
Nature: development of eco-luxury hotel projects, including eco-glamping, ecolodges, camping and sustainable green developments to provide access to the nature tourism services available across different regions of Colombia (Business Plan, Nature Tourism – PTP)
Amazonas, Meta, Boyacá, Magdalena, Antioquia, Chocó, Cultural Coffee Landscape, Bogotá.
Sun and Beach: Hotels to complement the existing services in Colombian coastal cities.
Magdalena, San Andrés y Providencia, Bolívar, Chocó.
Entertainment: development of entertainment projects including theme parks, concert halls and auditoriums, convention centers, etc.
Bogotá, Santander, Bolívar, Antioquia, Cultural Coffee Landscape, Valle del Cauca.
Urban: international franchises addressing select services for the corporate sector. Development of long-stay hotel projects.
Bogotá, Meta, Casanare, Santander, Norte de Santander, Magdalena, Atlántico, Bolívar, Antioquia, Cultural Coffee Landscape, Valle del Cauca, Nariño, Cauca.
- Also, there are possibilities for REITs and investor groups interested in local real estate and hotel projects and who are in search of funding.