Cartagena is Booming

Positive Economic Growth and Tourism

Positive Growth & Returns

Cartagena has experienced significant growth in recent years, transforming from a historical port city into a vibrant hub for commerce and tourism. The city’s strategic location along the Caribbean coast has attracted both local and international investors, leading to a surge in real estate development and infrastructure projects. With its rich cultural heritage and stunning coastal scenery, Cartagena has become a popular destination for travelers seeking a blend of history and vitality. The local government has also implemented initiatives to promote sustainable tourism, preserving the city's unique charm while accommodating increasing visitor numbers. As new businesses flourish and the population expands, Cartagena is poised to become a key player in Colombia's economic landscape, offering opportunities for innovation and development in various sectors. The city's growth is not just about numbers; it reflects a dynamic community that embraces its past while looking toward a promising future.

Economic Growth

Cartagena's economy stands out as one of the most rapidly expanding in Colombia. Over the past four years, this vibrant city has significantly contributed to the department's economic landscape, generating approximately 66% of its GDP. This remarkable performance has not only bolstered local prosperity but has also positioned Cartagena as a key player on the national stage, accounting for around 2.3% of Colombia's total GDP. The city's growth can be attributed to various factors, including its strategic location, thriving tourism sector, and expanding industrial base. As Cartagena continues to evolve, it is poised to attract even more investment and opportunities, solidifying its status as an economic powerhouse in the region.

Tourism Growth

In 2023, Colombia's tourism income saw a remarkable growth of 22.4%, highlighting the country's increasing appeal to travelers worldwide. Among its many attractions, Cartagena stands out as a popular destination, celebrated for its vibrant energy, rich artistic culture, and stunning proximity to the Caribbean islands. Visitors flock to this historic coastal city to experience its colorful streets, colonial architecture, and lively atmosphere. The alluring beaches and dynamic art scene further enhance Cartagena's charm, making it a must-visit location for those seeking both relaxation and cultural enrichment. As Colombia continues to invest in its tourism sector, destinations like Cartagena are likely to thrive, drawing even more tourists eager to explore the beauty and diversity of this pearl of the Caribbean.

Property Demand

Cartagena is currently witnessing an increasing demand for short-term rentals, creating a significant opportunity in the market. However, there is a noticeable gap, particularly for larger properties that can accommodate big groups, which are in short supply. This scarcity can be attributed to the fact that larger rentals often fall beyond the investment capabilities of moderate investors, leaving a void that has yet to be filled. As travelers seek more spacious accommodations for group stays, the potential for growth in this segment becomes evident. Addressing this demand could not only benefit investors willing to explore this niche but also enhance the overall tourism experience in Cartagena, making it an attractive destination for larger parties looking for comfortable lodging.