Research Bogota; Hospitality
Development & Expansion
Analysis of a country from an hospitality point of view : Colombia, Bogota
Introduction:
According to a study made by Jones Lang LaSalle Hotels, four of the top spots in South America for investors are Bogotá, Colombia; Buenos Aires, Argentina; Lima, Peru; and Santiago, Chile. According to that fact, I will try to explain in what reasons Bogota could be better and a more attractive place for investors in the hotel industry then others. 1) Country overview
Colombia is among the largest economies in South America and has the continent’s second-largest population.
Bogotá, the capital of Colombia, has over seven million residents and is Colombia’s principal commercial and financial centre. Almost one third of the country’s domestic companies are located in Bogotá. Bogotá is the main gateway to Colombia and the distribution hub for tourism within the country and as such is experiencing growing demand for hotels.
1.1) PESTLE highlights
Political landscape * President Juan Manuel Santos has imparted political stability, but internal security remains a problem * Colombia signed free-trade agreements with the US and the European Union in 2011–12 and the relations with Venezuela are also improving.
* According to Transparency International, the country ranked 78th (out of 178 countries) in 2010 Corruption dropping since 2009. The country scored 3,5 on a scale of 10 (0 = corrupt).
Economic landscape * The country has strong macroeconomic policies, but the increasing current account deficit and external debt offer cause for concern (budget deficit = 3.6% of GDP in 2010) * Colombia escaped a contraction in 2009 as Domestic consumption raise, increasing private investment, high public expenditure, increased consumer confidence and strong exports supported economic growth of 4.9% in 2011. * A favorable foreign investment regime has made Colombia the second most sought after destination for FDI in South
Analysis of a country from an hospitality point of view : Colombia, Bogota
Introduction:
According to a study made by Jones Lang LaSalle Hotels, four of the top spots in South America for investors are Bogotá, Colombia; Buenos Aires, Argentina; Lima, Peru; and Santiago, Chile. According to that fact, I will try to explain in what reasons Bogota could be better and a more attractive place for investors in the hotel industry then others. 1) Country overview
Colombia is among the largest economies in South America and has the continent’s second-largest population.
Bogotá, the capital of Colombia, has over seven million residents and is Colombia’s principal commercial and financial centre. Almost one third of the country’s domestic companies are located in Bogotá. Bogotá is the main gateway to Colombia and the distribution hub for tourism within the country and as such is experiencing growing demand for hotels.
1.1) PESTLE highlights
Political landscape * President Juan Manuel Santos has imparted political stability, but internal security remains a problem * Colombia signed free-trade agreements with the US and the European Union in 2011–12 and the relations with Venezuela are also improving.
* According to Transparency International, the country ranked 78th (out of 178 countries) in 2010 Corruption dropping since 2009. The country scored 3,5 on a scale of 10 (0 = corrupt).
Economic landscape * The country has strong macroeconomic policies, but the increasing current account deficit and external debt offer cause for concern (budget deficit = 3.6% of GDP in 2010) * Colombia escaped a contraction in 2009 as Domestic consumption raise, increasing private investment, high public expenditure, increased consumer confidence and strong exports supported economic growth of 4.9% in 2011. * A favorable foreign investment regime has made Colombia the second most sought after destination for FDI in South