IVIS Country Analysis – Columbia

COLOMBIA
280,259 Arrivals in the United States

Loss of 41,180 over 2002, -12.8%

72.7% of all Colombian Long-Haul Travel

-5.2% over 2002

SUMMARY

In 2003, total outbound travel from Colombia declined 1.8 percent over 2002 to 777,846. Colombian long-haul travel also declined in 2003, down 1.9 percent from the year before. The United States, which earns a market share of nearly three quarters (72.7%) of total long-haul travel from Colombia, similarly saw Colombian arrivals decline 12.8 percent in 2003 over 2002. Because arrivals to the U.S. from Colombia decreased more than total long-haul travel from Colombia, the U.S. market share (MSI) fell 5.2 percent in 2003 over 2002.

Columbia continued to enjoy steady economic growth in 2003. Real GDP grew 3.5 percent, while real private consumption also increased equivalently (2.9%). Consumer prices rose 7.1 percent during 2003. Colombia's unemployment rate is still very high at 17.0 percent, but this is slightly lower than it was in 2002.

For the thirteenth consecutive year, the Colombian peso depreciated against the U.S. dollar in 2003 by 13 percent. The peso also depreciated against other world currencies, thus contributing to the loss of total outbound travel from Colombia in 2003.

With a market share of 72.7 percent in 2003, the United States is undeniably the top country destination for long-haul travel from Colombia. The Dominican Republic (8.5%), Egypt (1.5%) and Hong Kong (0.8%) also attract long-haul travelers from Colombia.

Source: Global Insight

Regionally, the United States, with 72.7 percent of all long-haul travel from Colombia in 2003 had only meager competition for long-haul travel from Colombia. With 23.5 percent of long-haul travel from Colombia, the Caribbean captured most of the rest of the market share. Asia earned 1.6 percent of Colombian long-haul travelers in 2003 and Africa claimed 1.5 percent of the Colombian long-haul market.

Source: Global Insight