Colombia suffers a contraction of the GDP and a great fall in its tourism industry
According to data from the National Administrative Department of Statistics, in the second quarter of 2020, GDP decreased by 15.7% and economic activities related to tourism suffered a drop of 34%
Recently, the National Administrative Department of Statistics - DANE - revealed the latest figures for the decline in Gross Domestic Product. According to the source, in the second quarter of 2020, GDP decreased 15.7%, when compared to the same period last year.
“The results obtained are undoubtedly a sign that the paralysis in productive activities has been having a significant impact on the generation of people's income and consequently, the loss in their purchasing power is evident, which is especially hitting the tourism sector. In addition, the late reopening has generated a decrease in the income of those who work in this activity, ”said Paula Cortés Calle, executive president of ANATO.
This is confirmed by DANE figures, which show that during the second quarter, the GDP of the branches of economic activities related to travel and tourism (transport and storage; accommodation and food services; and artistic and entertainment activities and recreation and other service activities), decreased 34% on average, compared to the same period of 2019, which means a percentage drop higher than the national total.
"It must be taken into account that this is an approximation to the reality of the sector, given that the aforementioned branches are made up of other types of companies, so that when disaggregating the sector's service providers, the impact could be greater ”, concluded the union leader.