Foreign investment in Medellín is increasingly growing, mostly, due to tourism, events and conventions boom. This has led to the arrival of international hotel chains such as Marriot and Hilton.
According to Cotelco, Medellín went from 176 hotels and 7,370 rooms in 2016, to 197 hotels and 8,628 rooms in 2018. By 2019, there will be 34 new projects in Antioquia.
“Antioquia has the highest rates of investments for the construction of hotels in Colombia with 674 billion pesos. This also shows an excellent rate of employment, since the figures show that 56,640 workers were employed by hotels, thus generating social and economic development for the city and the region, “ says Johana Martínez, Executive Director of Cotelco Antioquia-Chocó Chapter.
The following hotel chains are in Medellín with projects both, under construction and newly opened: Decameron, Hilton, Travelers, Wyndham, Atton, Viaggio, Quinta Inn, Marriott, Metro Hotel, City Express, Click Clack and Blue Doors.
This Hospitality sector accelerated growth rate is due to the continuous increase of travelers’ arrival in the city, around 735,570 visitors in 2017, out of which 274,693 were foreigners. This is a 4.8% increase over 2016 figures, according to SITUR.
Undoubtedly, tourism growth and Medellín’s appealing to foreign investment for its City-Region strategy, are key elements for the realization of SAHIC South America 2018, one of the most important international events in the sector.
“Medellín is a city we can always learn from. Today we are a global reference in terms of social and urban innovation, and this transformation has been possible thanks to the commitment of all sectors of our society. We believe in a Medellín which is responsible for the region and is connected to the world,” said María Fernanda Galeano, Secretary of Economic Development of Medellín.
On the other hand, as pointed out by Federico Guerra Hoyos, Secretary of Productivity and Competitiveness of the Government of Antioquia, the region has valuable advantages and attractive aspects which make it an ideal destination for investment in tourism: “the department has the greatest rates of bird species in the world. This natural beauty is very close to villages with hotel infrastructure, which, added to the host talent of its inhabitants, make our territory an unforgettable place.
The Medellín Mayor’s Office through the Ministry of Economic Development; the Government of Antioquia through the Productivity Secretariat; the Medellín conventions and visitors Bureau, Plaza Mayor and ACI Medellín, work together to make SAHIC South America 2018 a success.