An internal JP Morgan report indicates that Colombia's annualised GDP will fall 2% in the first quarter of 2021. The financial institution, however, projects growth of 6% in the second quarter and 4% in the third quarter.
Colombia’s national mining agency (ANM) has granted a 30-year extension of mining titles held by Toronto-based Caldas Gold. With the extension, the miner can increase gold and silver production at its Marmato underground mine, in Caldas department. Mining and energy minister Diego Mesa said that the extension will generate investments of $275mn over three years.
MMining suspensions and a protracted strike cut Colombia's coal production to a 16-year low in 2020. Colombia, the world's fifth-largest coal exporter, produced 54.1mn t of thermal and coking coal and metallurgic coke last year, according to preliminary figures provided by the Mining and Energy Ministry. This is down from 80.3 million t in 2019.
A study by the Colombian Association of Travel and Tourism Agencies (Anato) reveals that more than 70% of companies in the sector believe that flexible packages will be decisive in stimulating tourism demand. The study also indicates that 51% of the companies in the sector will offer tailor-made packages, as this is considered another important factor for the recovery of the sector, after the COVID-19 pandemic.
Annual hotel occupancy in 2020 recorded a 35.8% decline compared to 2019, the Colombian Hotel and Tourism Association (Cotelco) said. According to Cotelco, in December, the drop was 23.8% compared to the same month in 2019.