Medellín, one of Colombia's most attractive tourist destinations, is taking a new step towards strengthening its hotel infrastructure with the construction of a modern hotel in the exclusive area of the Golden Mile, in El Poblado.

 This ambitious project, with a foreign investment of US$45 million, will not only contribute to the development of tourism, but will also generate more than 700 direct and indirect jobs during its construction and operation.

With 24 stories and a height of 88 meters, this new building will add 244 rooms to the city's hotel offer, which will allow it to meet the growing demand of national and international tourists. The project, which covers an area of 28,406 square meters, is the result of more than seven years of collaboration between various local and departmental entities, consolidating Medellín as a key center for foreign investment in the tourism sector.

Cristina Zambrano, executive director of the International Cooperation Agency of Medellín (ICA), highlighted the joint effort that has made this project a reality: “We are happy to have been able to accompany this investment, which is now a reality for our city. All the articulated work of the private sector, with local actors and the public sector, is now bearing fruit for the tourism sector”.

The construction of this hotel adds to the 27,764 beds registered by Cotelco Antioquia, an indication of the constant growth in the region's tourism infrastructure. Medellín is becoming an increasingly attractive destination, not only for tourists, but also for investors who see the hotel sector as an opportunity for growth.

Colombia is one of the main recipients of foreign direct investment in the tourism sector in Latin America, attracting 12% of total investment in the region. According to UN Tourism, in 2023, the country received 5.87 million international arrivals, reflecting its importance on the world tourism map. The main outbound markets include the United States, Ecuador, Mexico, Venezuela and Peru.

This hotel project in Medellín is a clear sign of the confidence that international investors have in the country. In addition, the growth of tourism is driving the need for high-quality infrastructure, diversifying the options for visitors in different areas of the city.

With initiatives such as this one, Medellín continues to consolidate itself as a benchmark for innovation, economic development and tourism in Colombia, opening new doors for foreign investment and sustainable growth.

Bibliography:

INFOBAE