Bogotá's tourism GDP accounts for 2.5% of the city's economy, a total of US$1.8bn, revealed a new report by the World Travel & Tourism Council (WTTC), Latin America City Travel & Tourism Impact. Bogotá's tourism economy represents 29.1% of Colombia’s tourism activity.
Latin America City Travel & Tourism Impact is one of a series of reports by WTTC which looks at the contribution of Travel & Tourism to city economies and job creation. The study covers 65 cities, six of which are in Latin America.
International spend accounts for 41% of Bogotá's tourism revenue, highlighting the importance of international visitors for the city. Most trips are for leisure rather than business purposes. The top international markets are United States (27%), Mexico (10%), Spain (5%), Brazil (5%) and Argentina (4%). Domestic demand is still responsible for 59% of tourism revenue, and spending from Colombian arrivals is forecast to double by 2026.
The total contribution of Colombia’s Travel & Tourism sector to GDP is COP51,05bn (US$16.7bn), or 5.8% of GDP. The total contribution of Travel & Tourism to employment, including jobs indirectly supported by the industry, was 6.1% of total employment (1.3 million jobs). Over the next ten years, the sector is forecast to generate 219,500 jobs.