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Market Entry - Tourism and Hotel Industry in Colombia: Analysis of Growth, Trends and Progress (2020 - 2025)

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About the Market

Tourism is an important component of their economy, as well as a significant source of foreign exchange revenues, contributing to 9.3% of country's GDP. Good travel and tourism policies enable 10 million international visitors annually. Indonesia's tourism sector accounts for approximately 4% of the total economy and plans to double the figure by 2019 by improving infrastructure, accessibility, health & hygiene, as well as enhancing online promotional marketing strategy, leading to opportunities in upcoming markets. The government has also revised its visa-free access policy in 2015 to attract more foreign tourists. Famous tourist destinations like Bali and Jakarta have already seen a large influx of investment in recent years, especially, in the upper end of the market, leading to excessive supply, promoting the establishment of hotel industry.

About the Geography                  

Colombia is the third largest country in Latin America with a very good education system and literacy rate. It has huge petroleum reserves and mineral sources, which contribute to its high GDP. The presidential republic government is a stable one as compared to other Latin American countries. The country has a seen a consistent growth in the last two decades and is the best country in Latin America for ease of doing business. It also has many trade agreements with the EU and is located at strategically with modern port facilities, which provide the country access to major markets, help in the rapid expansion of extractive industries, lower the unemployment rate, and kept the inflation in check.

The government has 13 trade agreements in force with CAN, Mercosur, Caricom, G3, EFTA, US-Colombia Trade Agreements and is currently negotiating 8 more. The country has been facing challenges like corruption, terrorism, and poor infrastructure.The difficult geography and poor transport infrastructure are not helping the government either but haven’t slowed down development.

Colombia’s credit rating was recently raised to Investment Grade by Moody & Standard & Poor.

                               Component Name

Unit

GDP (USD billion)

292

GDP Annual Growth Rate

2

                                               GDP Per Capita

7448

Unemployment Rate

9

Inflation Rate

7.27

Consumer Price Index (CPI)

133

Interest Rate

7.75

Balance of Trade (USD billion)

-1.16

Business Confidence

7.9

Ease of Doing Business

54

Competitiveness Rank

61

Corruption Rank

83

Consumer Confidence

-6.6

Consumer Spending (USD billion)

1315.66

Corporate Tax Rate

25

Sales Tax Rate

16

                                                                                                                                                                                                                

The Market Entry Series

Exploring global markets is now recognized as the shortest way to ensure high time to efficiency conversion, when trying to expand revenues past domestic markets, for firms both large and small. Our market entry series, priced suitably low contains the essentials of all the parameters (Refer: Table of Contents) you must be apprised of before you can have a well informed contemplation of a business opportunity in your choice of industry, in your choice of geography.

 

1. Introduction

                1.1 Scope of the Report

                1.2 Regional Analysis

                                1.2.1 PESTLE Analysis

                                1.2.2 Analysis of Ease of Doing Business

2. Market Dynamics

                2.1 Drivers

                2.2 Restraints

                2.3 Opportunities

3. Market Demand Analysis

                3.1 Socio-Economic Segmentation

                3.2 Demographic Strengths & Weaknesses

                3.3 Spending Patterns

                3.4 Target Market Identification

4. Market Size of Hotel and Tourism industry by Type (USD millions)

                4.1 Vacation tourism

                4.2 Medical toursim

                4.3 Cultural toursim

                4.4 Eco toursim

                4.5 Adventure toursim

                4.6 Cruise toursim

                4.7 Event toursim

5. Market Entry

                5.1 Market Entry: The Strategy

                                5.1.1 Types of Entry Modes, by Market Entry Objectives

                                5.1.2 Competition Analysis

                                                5.1.2.1 Market Share

                                                5.1.2.2 Strategies Adopted, Recent Events 

                                5.1.3 Pricing Strategy

                                5.1.4 Supply Chain Analysis

                                                5.1.4.1 Trade (Import-Export Analysis)

                                                5.1.4.2 Distribution Network & Retail Analysis

                5.2 Market Entry: The Administration

                                5.2.1 How to Register a Company (Flowchart)

                                5.2.2 Registration Processes 

                                                5.2.2.1 Ministries Involved

                                                5.2.2.2 Criteria and Conditions

                                5.2.3 List of Forms & Documents

                                5.2.4 Product Control Guidelines specified by the Government

6. Sources

7. Disclaimer

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