Medellín is increasingly booming in the international context. This is demonstrated by the increasing figures in foreign investment, the number of visitors, the realization of events, the economic effect of tourism on the city and the growth of exports. These aspects make Medellín attractive for business, international fairs and conventions and help it to maintain its dynamism in the commerce, transport, hotel and tourism sectors, among others.
“The Medellín Mayor’s Office, through the Visitors & Conventions Bureau, The Agency for Cooperation and Investment of Medellín and the Metropolitan Area -ACI Medellín-, Plaza Mayor and Ruta N, works to promote the city abroad and attract more and better opportunities,” said María Fernanda Galeano Rojo, Secretary of Economic Development.
In 2017, Medellín registered a growth of 76% in domestic investment and direct foreign investment, compared to 2016. As of December 11, this year, the city obtained 372.72 million dollars for this same concept.
Visitors
According to the Tourism Information System -SITUR in Spanish-, until December 10 of this year, 679,891 visitors arrived in Medellin, from which 254,541 were foreigners. This represent an increase of 4.21% compared to 2016. The average hotel occupancy was 62%. The largest number of people from outside the country that arrives in the city is from United States, 49%. They are followed by Panama with 18% and Mexico with 15%.
In the last five years, the arrival of foreigners has increased by 109% (121,368 in 2012 and 254,541 on December 10, 2017). This represents revenue for the city, taking into account that each visitor from outside the country who comes for business reasons spends an average of 250 dollars a day in hotel, transport, commerce, restaurants, among others, while the vacation visitor spends 180 dollars in an average day.
Business and events
In 2017, five business rounds were held in the agriculture, chemical and life sciences sectors, which reported earnings of 11.8 million dollars.
328 businessmen attended 1,461 business meetings. The business rounds were attended by representatives of the United States, Canada, Chile, Costa Rica, Ecuador, Guatemala, Jamaica, Peru, Trinidad and Tobago, Paraguay and Bolivia.
The total of important events for the city, including this year and until 2020, will be 92. It is estimated that these yield 17.6 million dollars in a positive economic impact for the city. Ten years ago, the capital of Antioquia captured about 15 events, which means a growth of 500%.
Plaza Mayor, the main fairground of Medellín, increased the offer of own events by 233% in 2017. It went from performing six events in 2016 to 16 this year. This, in addition, represented an increase in the number of attendees of 78.6%, going from 70,000 in 2016 to 125,000 in the current year.
Business
In 2017, 108 companies from Medellín entered the export activity for the first time, which generated 723 jobs, and 65 international missions were carried out.
This year, 49 technology-based companies arrived in the city, generating 2,782 jobs. There are currently 204 companies from 30 countries that have created 4,650 jobs in five years.
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