Is 2015 your year to visit Colombia?
Weak Colombian Peso
The weak Colombia Peso is creating some great opportunities to spend time in Colombia. This may be the year to plan your extended vacation to this beautiful country. With the US Dollar value versus the COP at a multi year high, the deals are definitely there. Fuel prices are down and the Colombian Peso is low, so you can find bargains on every front. There are low cost airfares, low cost lodging and food, meaning Colombia could be exactly what the doctor ordered.
The COP is very weak and some suggest this will lead to inflation in the future. Right now though, it is great of those of us from the USA because our dollar buys more than it has in the last several years. For Colombia, there is also a bright side since it will be more difficult to buy imported products in Colombia those items manufactured in Colombia will offer a much better value to most. The downside to that is, the most desired items are imported. Most clothing and probably all electronics are imported and the cost will surely rise. According to a report from Bloomberg earlier in 2014, the Colombians welcome the lower peso value as it helps with exports of Coffee, Flowers and Bananas.
To prevent an inflationary breakout from higher import prices, other developing countries are raising interest rates and selling dollars to strengthen their currencies. But Colombian policymakers are letting the peso decline, because inflation is hovering close to a six-decade low, contained in part by lower food and gasoline prices. The peso’s slump benefits coffee, banana, and flower exporters. It also provides an export edge to industry, which contracted for most of 2013.
“The weaker peso is good news for Colombia,” Finance Minister Mauricio Cárdenas told reporters on Feb. 5. “It gives us complete tranquillity.”
Colombian tourism also welcomes the weakened COP. Many more travelers are discovering Colombia for the first time. Tourist destinations such as San Andrés and Santa Marta are enjoying an increase in visitors and those visitors are spending more money than ever, helping those local economies and the Colombian economy as a whole.
Travel is brisk to other parts of Colombia as well, including Cartagena, Bogota and Medellin. A fantastic thing about Colombia is there is something for every type of traveler. If you want to see beautiful nature, with exotic plants and animals, you can find it in Colombia. If walking along beautiful beaches is your thing, you will surely find it here. There has never been a better time to travel to Colombia and all at a bargain.