Key information about Colombia Tourism Revenue Growth

• Colombia Tourism Revenue dropped 71.1 % YoY in Dec 2020, compared with an increase of 1.9 % YoY in the previous year
• Colombia Tourism Revenue Growth rate data is updated yearly, available from Dec 1996 to Dec 2020
• The data reached an all-time high of 19,804.2 % in Dec 2009 and a record low of -13,568.0 % in Mar 2020

Colombia CO: International Tourism: Receipts: for Travel Items data was reported at 1.595 USD bn in 2020. This records a decrease from the previous number of 5.682 USD bn for 2019. Colombia CO: International Tourism: Receipts: for Travel Items data is updated yearly, averaging 1.954 USD bn from Dec 1995 (Median) to 2020, with 26 observations. The data reached an all-time high of 5.682 USD bn in 2019 and a record low of 657.000 USD mn in 1995. Colombia CO: International Tourism: Receipts: for Travel Items data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Colombia – Table CO.World Bank.WDI: Tourism Statistics. International tourism receipts for travel items are expenditures by international inbound visitors in the reporting economy. The goods and services are purchased by, or on behalf of, the traveler or provided, without a quid pro quo, for the traveler to use or give away. These receipts should include any other prepayment made for goods or services received in the destination country. They also may include receipts from same-day visitors, except in cases where these are so important as to justify a separate classification. Excluded is the international carriage of travelers, which is covered in passenger travel items. Data are in current U.S. dollars.;World Tourism Organization, Yearbook of Tourism Statistics, Compendium of Tourism Statistics and data files.;Gap-filled total;

In 2021, the expenditure generated from Colombia's outbound tourism represented *** percent of the country's gross domestic product (GDP). Though that figure represents an increase versus the previous year, it was still below pre-pandemic percentages.

Key information about Colombia Tourism Revenue

• Colombia's Tourism Revenue reached 2 USD bn in Dec 2020, compared with 7 USD bn in the previous year
• Colombia's Tourism Revenue data is updated yearly, available from Dec 1995 to Dec 2020
• The data reached an all-time high of 6,784 USD mn in Dec 2019 and a record low of 887 USD mn in Dec 1995

In 2021, inbound tourism expenditures accounted for *** percent of the Colombia's gross domestic product (GDP), registering an increase versus the previous year. That same year, the GDP share of Colombian outbound tourism expenditures was at *** percent too.

In the fourth quarter of 2022, the contribution of the accommodation and food service industries to the Colombian gross domestic product (GDP) was the highest recorded since 2015. In total, these industries contributed nearly ** trillion Colombian pesos to the country's economy.

Colombia CO: International Tourism: Receipts data was reported at 1.959 USD bn in 2020. This records a decrease from the previous number of 6.784 USD bn for 2019. Colombia CO: International Tourism: Receipts data is updated yearly, averaging 2.493 USD bn from Dec 1995 (Median) to 2020, with 26 observations. The data reached an all-time high of 6.784 USD bn in 2019 and a record low of 887.000 USD mn in 1995. Colombia CO: International Tourism: Receipts data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Colombia – Table CO.World Bank.WDI: Tourism Statistics. International tourism receipts are expenditures by international inbound visitors, including payments to national carriers for international transport. These receipts include any other prepayment made for goods or services received in the destination country. They also may include receipts from same-day visitors, except when these are important enough to justify separate classification. For some countries they do not include receipts for passenger transport items. Data are in current U.S. dollars.;World Tourism Organization, Yearbook of Tourism Statistics, Compendium of Tourism Statistics and data files.;Gap-filled total;

In 2019, medical tourism brought more than *** billion U.S. dollars to Colombia's economy. This figure is expected to increase to ***** billion dollars by 2024. In 2018, a total of ****** tourists visited the South American country for medical purposes.

In 2022, the main reason not to travel domestically in Colombia was the personal or family's economy. According to a survey, roughly ** percent of respondents in the South American country mentioned it as their main reason. Lack of interest was the second most popular reason among Colombians surveyed, with ** percent of respondents. Meanwhile, holidays and recreation were the main motivation to travel domestically among Colombians in that year.

Colombia CO: International Tourism: Receipts: % of Total Exports data was reported at 5.125 % in 2020. This records a decrease from the previous number of 13.218 % for 2019. Colombia CO: International Tourism: Receipts: % of Total Exports data is updated yearly, averaging 8.019 % from Dec 1995 (Median) to 2020, with 26 observations. The data reached an all-time high of 13.218 % in 2019 and a record low of 5.125 % in 2020. Colombia CO: International Tourism: Receipts: % of Total Exports data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Colombia – Table CO.World Bank.WDI: Tourism Statistics. International tourism receipts are expenditures by international inbound visitors, including payments to national carriers for international transport. These receipts include any other prepayment made for goods or services received in the destination country. They also may include receipts from same-day visitors, except when these are important enough to justify separate classification. For some countries they do not include receipts for passenger transport items. Their share in exports is calculated as a ratio to exports of goods and services, which comprise all transactions between residents of a country and the rest of the world involving a change of ownership from residents to nonresidents of general merchandise, goods sent for processing and repairs, nonmonetary gold, and services.;World Tourism Organization, Yearbook of Tourism Statistics, Compendium of Tourism Statistics and data files, and IMF and World Bank exports estimates.;Weighted average;

The average for 2020 based on 5 countries was 800 thousand tourists. The highest value was in Colombia: 1396 thousand tourists and the lowest value was in Guyana: 86 thousand tourists. The indicator is available from 1995 to 2020. Below is a chart for all countries where data are available.

Colombia CO: International Tourism: Expenditures data was reported at 1.576 USD bn in 2020. This records a decrease from the previous number of 5.658 USD bn for 2019. Colombia CO: International Tourism: Expenditures data is updated yearly, averaging 2.336 USD bn from Dec 1995 (Median) to 2020, with 26 observations. The data reached an all-time high of 5.658 USD bn in 2019 and a record low of 1.162 USD bn in 1995. Colombia CO: International Tourism: Expenditures data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Colombia – Table CO.World Bank.WDI: Tourism Statistics. International tourism expenditures are expenditures of international outbound visitors in other countries, including payments to foreign carriers for international transport. These expenditures may include those by residents traveling abroad as same-day visitors, except in cases where these are important enough to justify separate classification. For some countries they do not include expenditures for passenger transport items. Data are in current U.S. dollars.;World Tourism Organization, Yearbook of Tourism Statistics, Compendium of Tourism Statistics and data files.;Gap-filled total;

Colombia E-Commerce Transactions: Value: Travel & Tourism: Tourist Attractions data was reported at 71.608 USD in 22 Apr 2025. This records an increase from the previous number of 52.444 USD for 21 Apr 2025. Colombia E-Commerce Transactions: Value: Travel & Tourism: Tourist Attractions data is updated daily, averaging 862.927 USD from Apr 2019 (Median) to 22 Apr 2025, with 303 observations. The data reached an all-time high of 28,215.564 USD in 06 Oct 2023 and a record low of 19.121 USD in 04 Apr 2025. Colombia E-Commerce Transactions: Value: Travel & Tourism: Tourist Attractions data remains active status in CEIC and is reported by Grips Intelligence Inc.. The data is categorized under Global Database’s Colombia – Table CO.GI.EC: E-Commerce Transactions: by Category.

Statistical summary of a linear model comparing the duration of lockdown orders of all 50 states and District of Colombia in early 2020 compared to their economic reliance on tourism, net support for President Trump, population density, mean temperature in spring 2020, and mean age of the population.

Colombia E-Commerce Transactions: AOV: Travel & Tourism: Tourist Attractions data was reported at 35.804 USD in 22 Apr 2025. This records an increase from the previous number of 17.481 USD for 21 Apr 2025. Colombia E-Commerce Transactions: AOV: Travel & Tourism: Tourist Attractions data is updated daily, averaging 115.568 USD from Apr 2019 (Median) to 22 Apr 2025, with 303 observations. The data reached an all-time high of 4,421.815 USD in 08 Oct 2023 and a record low of 3.900 USD in 23 May 2024. Colombia E-Commerce Transactions: AOV: Travel & Tourism: Tourist Attractions data remains active status in CEIC and is reported by Grips Intelligence Inc.. The data is categorized under Global Database’s Colombia – Table CO.GI.EC: E-Commerce Transactions: by Category.

Abstract

This research was conducted in Colombia between March and August 2006 as part of the Latin America and the Caribbean Enterprise Survey 2006 initiative. 1000 businesses were surveyed.

The objective of the study is to obtain feedback from enterprises in client countries on the state of the private sector as well as to help in building a panel of enterprise data that will make it possible to track changes in the business environment over time, thus allowing, for example, impact assessments of reforms. Through face-to-face interviews with firms in the manufacturing and services sectors, the survey assesses the constraints to private sector growth and creates statistically significant business environment indicators that are comparable across countries.

The standard Enterprise Survey topics include firm characteristics, gender participation, access to finance, annual sales, costs of inputs/labor, workforce composition, bribery, licensing, infrastructure, trade, crime, competition, capacity utilization, land and permits, taxation, informality, business-government relations, innovation and technology, and performance measures. Over 90% of the questions objectively ascertain characteristics of a country’s business environment. The remaining questions assess the survey respondents’ opinions on what are the obstacles to firm growth and performance.

Geographic coverage

National

Analysis unit

The primary sampling unit of the study is the establishment. An establishment is a physical location where business is carried out and where industrial operations take place or services are provided. A firm may be composed of one or more establishments. For example, a brewery may have several bottling plants and several establishments for distribution. For the purposes of this survey an establishment must make its own financial decisions and have its own financial statements separate from those of the firm. An establishment must also have its own management and control over its payroll.

Universe

The whole population, or the universe, covered in the Enterprise Surveys is the non-agricultural economy. It comprises: all manufacturing sectors according to the ISIC Revision 3.1 group classification (group D), construction sector (group F), services sector (groups G and H), and transport, storage, and communications sector (group I). Note that this population definition excludes the following sectors: financial intermediation (group J), real estate and renting activities (group K, except sub-sector 72, IT, which was added to the population under study), and all public or utilities sectors.

Kind of data

Sample survey data [ssd]

Sampling procedure

The study was conducted using stratified random sampling. Three levels of stratification were used in the sample: firm sector, firm size, and geographic region.

Industry stratification was designed in the following way: the population was stratified into 4 manufacturing industries, 2 services industries -retail and IT-, and one residual sector. For the manufacturing industries sample sizes were inflated by 25% to account for potential non-response in the financing data.

Size stratification was defined following the standardized definition for the rollout: small (5 to 19 employees), medium (20 to 99 employees), and large (more than 99 employees). For stratification purposed, the number of employees was defined on the basis of reported permanent full-time workers.

Regional stratification was defined in terms of the geographic regions with the largest commercial presence in the country: Bogota, Cali, Medellin, and Barranquilla.

The sources of the sample frame for Columbia was 2004 Comfecamaras. The proportion of confirmed non-eligible units to the total number of contacts to complete the survey was 20%.

Additional information about sampling design can be found in "Sampling Report.xls", "Sampling Methodology" and "Latin America and the Caribbean Enterprise Survey 2006 Implementation Report" in "Technical documents" folder.

Mode of data collection

Face-to-face [f2f]

Research instrument

The current survey instruments are available: - Core Questionnaire + Manufacturing Module [ISIC Rev.3.1: 15-37] - Core Questionnaire + Retail Module [ISIC Rev.3.1: 52] - Core Questionnaire [ISIC Rev.3.1: 45, 50, 51, 55, 60-64, 72] - Screener Questionnaire.

The “Core Questionnaire” is the heart of the Enterprise Survey and contains the survey questions asked of all firms across the world. There are also two other survey instruments - the “Core Questionnaire + Manufacturing Module” and the “Core Questionnaire + Retail Module.” The survey is fielded via three instruments in order to not ask questions that are irrelevant to specific types of firms, e.g. a question that relates to production and nonproduction workers should not be asked of a retail firm. In addition to questions that are asked across countries, all surveys are customized and contain country-specific questions. An example of customization would be including tourism-related questions that are asked in certain countries when tourism is an existing or potential sector of economic growth.

The standard Enterprise Survey topics include firm characteristics, gender participation, access to finance, annual sales, costs of inputs/labor, workforce composition, bribery, licensing, infrastructure, trade, crime, competition, capacity utilization, land and permits, taxation, informality, business-government relations, innovation and technology, and performance measures.

Cleaning operations

Data entry and quality controls are implemented by the contractor and data is delivered to the World Bank in batches (typically 10%, 50% and 100%). These data deliveries are checked for logical consistency, out of range values, skip patterns, and duplicate entries. Problems are flagged by the World Bank and corrected by the implementing contractor through data checks, callbacks, and revisiting establishments.

Response rate

Information about response rates, survey and item non-response can be found in "Latin America and the Caribbean Enterprise Survey 2006 Implementation Report" in "Technical documents" folder.

Abstract

This research was conducted in Colombia between June and October 2010 as part of the Latin America and Caribbean (LAC) Enterprise Survey 2010, an initiative of the World Bank. Data from 942 establishments was analyzed.

The objective of the study is to obtain feedback from enterprises in client countries on the state of the private sector as well as to help in building a panel of enterprise data that will make it possible to track changes in the business environment over time, thus allowing, for example, impact assessments of reforms. Through face-to-face interviews with firms in the manufacturing and services sectors, the survey assesses the constraints to private sector growth and creates statistically significant business environment indicators that are comparable across countries.

The standard Enterprise Survey topics include firm characteristics, gender participation, access to finance, annual sales, costs of inputs/labor, workforce composition, bribery, licensing, infrastructure, trade, crime, competition, capacity utilization, land and permits, taxation, informality, business-government relations, innovation and technology, and performance measures. Over 90% of the questions objectively ascertain characteristics of a country’s business environment. The remaining questions assess the survey respondents’ opinions on what are the obstacles to firm growth and performance.

Geographic coverage

National

Analysis unit

The primary sampling unit of the study is the establishment. An establishment is a physical location where business is carried out and where industrial operations take place or services are provided. A firm may be composed of one or more establishments. For example, a brewery may have several bottling plants and several establishments for distribution. For the purposes of this survey an establishment must make its own financial decisions and have its own financial statements separate from those of the firm. An establishment must also have its own management and control over its payroll.

Universe

The whole population, or the universe, covered in the Enterprise Surveys is the non-agricultural economy. It comprises: all manufacturing sectors according to the ISIC Revision 3.1 group classification (group D), construction sector (group F), services sector (groups G and H), and transport, storage, and communications sector (group I). Note that this population definition excludes the following sectors: financial intermediation (group J), real estate and renting activities (group K, except sub-sector 72, IT, which was added to the population under study), and all public or utilities sectors.

Kind of data

Sample survey data [ssd]

Sampling procedure

The study was conducted using stratified random sampling. Three levels of stratification were used in the sample: firm sector, firm size, and geographic region.

Industry stratification was designed in the way that follows: the universe was stratified into 5 manufacturing industries, 1 service industry -retail -, and 1 residual sector. The four identified manufacturing sectors each had targets of 160 interviews, with other manufacturing having a target of 120 interviews. Both retail and other services had targets of 120 interviews each.

Size stratification was defined following the standardized definition for the Enterprise Surveys: small (5 to 19 employees), medium (20 to 99 employees), and large (more than 99 employees). For stratification purposes, the number of employees was defined on the basis of reported permanent full-time workers. This seems to be an appropriate definition of the labor force since seasonal/casual/part-time employment is not a common practice, except in the sectors of construction and agriculture.

Regional stratification was defined in four locations (city and the surrounding business area): Bogota, Cali, Medellin, and Barranquilla.

For Colombia, two sample frames were used. The first was supplied by the World Bank and consists of enterprises interviewed in Colombia in 2006. The World Bank required that attempts should be made to re-interview establishments responding to the Colombia 2006 survey where they were within the selected geographical regions and met eligibility criteria. That sample is referred to as the Panel. The second sample frame was produced by Centro Nacional de Consultoría S. A. using the Confecámaras and Chamber of Commerce Bogotá, 2008.

The quality of the frame was assessed at the onset of the project through visits to a random subset of firms and local contractor knowledge. The sample frame was not immune from the typical problems found in establishment surveys: positive rates of non-eligibility, repetition, non-existent units, etc. In addition, the sample frame contains no telephone/fax numbers so the local contractor had to screen the contacts by visiting them. Due to response rate and ineligibility issues, additional sample had to be extracted by the World Bank in order to obtain enough eligible contacts and meet the sample targets.

Given the impact that non-eligible units included in the sample universe may have on the results, adjustments may be needed when computing the appropriate weights for individual observations. The percentage of confirmed non-eligible units as a proportion of the total number of sampled establishments contacted for the survey was 13.20% (448 out of 3395 establishments).

Complete information regarding the sampling methodology, sample frame, weights, response rates, and implementation can be found in "Description of Colombia Implementation" in "Technical documents" folder.

Mode of data collection

Face-to-face [f2f]

Research instrument

The current survey instruments are available: - Core Questionnaire + Manufacturing Module - Core Questionnaire + Retail Module - Core Questionnaire - Screener Questionnaire

The "Core Questionnaire" is the heart of the Enterprise Survey and contains the survey questions asked of all firms across the world. There are also two other survey instruments - the "Core Questionnaire + Manufacturing Module" and the "Core Questionnaire + Retail Module." The survey is fielded via three instruments in order to not ask questions that are irrelevant to specific types of firms, e.g. a question that relates to production and nonproduction workers should not be asked of a retail firm. In addition to questions that are asked across countries, all surveys are customized and contain country-specific questions. An example of customization would be including tourism-related questions that are asked in certain countries when tourism is an existing or potential sector of economic growth.

The standard Enterprise Survey topics include firm characteristics, gender participation, access to finance, annual sales, costs of inputs/labor, workforce composition, bribery, licensing, infrastructure, trade, crime, competition, capacity utilization, land and permits, taxation, informality, business-government relations, innovation and technology, and performance measures. The questionnaire also assesses the survey respondents' opinions on what are the obstacles to firm growth and performance.

Cleaning operations

Data entry and quality controls are implemented by the contractor and data is delivered to the World Bank in batches (typically 10%, 50% and 100%). These data deliveries are checked for logical consistency, out of range values, skip patterns, and duplicate entries. Problems are flagged by the World Bank and corrected by the implementing contractor through data checks, callbacks, and revisiting establishments.

Response rate

The number of realized interviews per contacted establishment was 0.28. This number is the result of two factors: explicit refusals to participate in the survey, as reflected by the rate of rejection (which includes rejections of the screener and the main survey) and the quality of the sample frame, as represented by the presence of ineligible units. The number of rejections per contact was 0.31.

Complete information regarding the sampling methodology, sample frame, weights, response rates, and implementation can be found in "Description of Colombia Implementation" in "Technical documents" folder.

Colombia E-Commerce Transactions: AOV: Travel & Tourism: Travel & Tourism data was reported at 124.549 USD in 16 Sep 2024. This records an increase from the previous number of 123.749 USD for 15 Jul 2024. Colombia E-Commerce Transactions: AOV: Travel & Tourism: Travel & Tourism data is updated daily, averaging 96.309 USD from Dec 2018 (Median) to 16 Sep 2024, with 1593 observations. The data reached an all-time high of 1,825.850 USD in 24 May 2021 and a record low of 8.000 USD in 29 Oct 2020. Colombia E-Commerce Transactions: AOV: Travel & Tourism: Travel & Tourism data remains active status in CEIC and is reported by Grips Intelligence Inc.. The data is categorized under Global Database’s Colombia – Table CO.GI.EC: E-Commerce Transactions: by Category.

The Latin American general aviation market, valued at $1.42 billion in 2025, is projected to experience robust growth, driven by factors such as increasing tourism, infrastructure development in remote areas, and a rising demand for air travel within the region. The market's Compound Annual Growth Rate (CAGR) of 6.15% from 2025 to 2033 suggests a significant expansion over the forecast period. Key segments contributing to this growth include helicopters, vital for emergency medical services and tourism, and turboprop aircraft, popular for regional connectivity and cargo transport. Business jets, though representing a smaller segment, are expected to show notable growth fueled by increasing high-net-worth individuals in the region. The rise of e-commerce and the need for efficient logistical solutions also fuels demand, particularly for smaller cargo aircraft. However, economic volatility, fluctuating fuel prices, and regulatory hurdles could potentially constrain market expansion. Brazil, Mexico, and Colombia are expected to be the dominant markets within Latin America, due to their larger economies and more developed aviation infrastructure. Competition among leading manufacturers like Embraer, Textron, and Leonardo is expected to remain fierce, pushing innovation and cost-efficiency in aircraft design and maintenance. Growth in the Latin American general aviation market hinges on several factors. Continued economic development and government initiatives promoting regional connectivity are crucial. Investments in airport infrastructure and air traffic management systems will also be key to unlocking further market potential. Moreover, the adoption of advanced technologies, such as more fuel-efficient aircraft and advanced avionics, will play a significant role in driving down operating costs and improving safety standards, attracting more players and increasing market penetration. Sustained efforts to streamline regulations and address safety concerns are also essential to maintain market confidence and attract foreign investments. The growth forecast assumes a stable macroeconomic environment and continued expansion of the tourism sector. Notable trends are: The Helicopters Segment to Experience the Highest Growth During the Forecast Period.

The number of international visitor arrivals in Panama was close to *********** in 2022, after having plummeted in the previous two years due to the COVID-19 impact on tourism worldwide. Before the pandemic, the country had more than *** million arrivals by foreign visitors.

On the right path

Panama received a Travel & Tourism Competitiveness Index (TTCI) score of *** out of seven points in 2019. The Central American country ranked ****** in Latin America and the Caribbean, shortly trailing Mexico, Brazil, and Costa Rica. The index measures how attractive a country is to developing business in that sector. In that year, the travel and tourism policy and enabling conditions were the country’s highest-rated sub-index, with a score of ***. However, the overall Panamanian 2019 TTCI score was the lowest recorded since 2013.

Cash cow

As a small but highly international travel hub, Panama’s tourism sector is mostly driven by foreign visitors. In 2019, the ************ nation ranked for the third largest expenditure generated by international visitors in the region, outperforming other major destinations like Brazil, Argentina, and Colombia. Inbound tourism spending represented around ** percent of the country's GDP throughout the ***** —an economic activity that was nonetheless severely affected by COVID-19. As an early-2021 forecast projects, the entire Panamanian tourism sector would need around five years to recover from the effects of that global health crisis.