Colombia’s hotel sector received 90% more investment in 2010 compared to the year before, financial magazine Dinero reported Monday.
In total, the sector received $1.7 billion against 900 million last year. According to the magazine, this year’s investment is the highest in the past eight years.
Between 2004 and 2010 Colombia saw an increase in hotel rooms of 16,000, while another 10,000 were remodeled.
Bogota hotels is the city drawing the most foreign investors. 4,000 of 6,000 new hotel rooms were financed by foreign investors.
Since 2009, the Colombian government offers income tax exemption for investors in the hotel sector.