As international arrivals increase, hoteliers expand to serve more business travelers.
Spending on corporate travel to, from and within Colombia was US$5 billion (15.4 trillion Colombian pesos) in 2017. Colombians’ business trips abroad accounted for half of that spending. Spending by all corporate travelers averaged growth of 9% a year between 2012 and 2017, with big increases in 2015 and 2016. Growth is expected to dip to 8% per year, on average, through 2020, but the performance of different business traveler groups should be more balanced. BCD Travel increased its stake in the Colombian market earlier this year.
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