The agreement reached between the National Government and the banking sector, to allocate 8.4 billion pesos in credits to the tourism sector, is undoubtedly a great initiative to activate demand and support travel agencies, 90% of which are micro-enterprises or family businesses, said Paula Cortés, president of Anato, the association of this sector of the economy.
You can read: Forced investments will no longer be necessary: credits for strategic sectors will increase by 28%
He pointed out that this is a great opportunity for entrepreneurs, the growth of their companies and the strengthening of employment in the travel industry, a sector that has not been able to recover since pre-pandemic times and which, specifically in travel agencies, by June 2024 revealed a drop of 32%, compared to 2019.
“It is important to know how the distribution of credits will be carried out, their duration and the guarantees that these would have for our entrepreneurs, through the FNG, so that the banks offer competitive rates, which are truly beneficial and easy for them to access,” explained the union leader.
You can see: Appetite for credit in Colombia has picked up again, but it still falls short
Travel agencies
iStock
The above, taking into account that, according to studies carried out by Anato, in 2023 The financial expenses of its members grew by more than 50% on average, mainly due to the increase in interest rates. For this reason, in order to make proper use of the Credit Agreement, it is necessary for interest rates to be lower.
And he added: “Therefore, Anato and its travel agencies have joined this important strategy and expressed our willingness to participate in the working groups and join forces towards this objective of activating demand and making tourism grow faster. We appreciate the efforts of the National Government and the private sector, through the Colombian financial system, to prioritize our sector within the economies that are part of this Pact for Credit. We are sure that teamwork will transform this challenge into an achievement for all,” Cortés Calle concluded.
Also read: Housing and payroll, the only types of credit that are growing
Currently, 40% of travel agencies’ income comes from the sale of airline tickets.
Private file
It is worth remembering that Jonathan Malagón, president of Asobancaria, explained that the sectors will have more resources and more loanable funds for the development of their activity, with which they will be able to consolidate the Colombia’s economic recovery process.
“We announce the agreement on strategic investments, the result of constructive and concerted dialogue with the Government, which will allow the disbursement of 250 billion pesos in loans,” said Malagón.
Paula Galeano Balaguera
Portfolio Journalist
