The possibility of a peace deal after decades of conflict promises to be a game changer for Colombia’s tourism sector. Authorities are getting ready to capitalise on this, rolling out a number of infrastructure projects and providing the sector with additional institutional support in preparation for the post-conflict influx of tourists, and efforts seem to be paying off. The sector has grown...
The Americas Tourism
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Despite instability associated with the global mining and hydrocarbons sectors, Colombia displays stable economic growth amidst a regional slowdown, in large part a result of economic liberalisation, free trade agreements and entry to a variety of trade blocs. After recording 6.6% growth in 2011 and 4% in 2012, Colombia saw a slowdown in the first half of 2013, but the economy regained momentum by the end of the year.
Chapter | Tourism & Entertainment from The Report: Mexico 2014
Selected by the current government as a pillar for growth, the tourism sector contributes more than 8% to national GDP and is the fourth-most-important source of foreign currency. With the exception of 2009, tourist arrivals have increased steadily from 22.9m in 2008 to 23.7m in 2013. Foreign exchange inflows generated by the sector also registered an increase of 8.5% in 2013, reaching a...
The second-largest economy in Latin America, Mexico seems poised to enter a new growth phase as the government of Enrique Peña Nieto implements radical changes in a number of sectors across the economy. The reforms, aimed at raising the competitiveness of the Mexican economy, have the potential to establish Mexico’s position as a regional powerhouse.
For the past decade Panama has registered impressive economic growth. According to the World Bank, GDP growth averaged 6.8% from 2000 to 2012, while government figures show double-digit growth for four of the past seven years. Economic development has been fuelled by heavy public sector spending on infrastructure, particularly the $5.25bn expansion of the Panama Canal, which should ensure long-term growth.
One of four key pillars of economic growth in the Strategic Economic Plan 2010-14, the tourism sector has experienced rapid development in the past decade. According to the World Travel...