Colombia: Food Service - Hotel Restaurant Institutional
The Hotel Restaurant Institutional (HRI) sector in Colombia is still rebuilding from the mandatory 6-month lockdown that caused serious economic damage across the sector. Emerging from the lockdown, U.S. exporters face new market conditions in the country, resulting from changes in consumer habits and preferences during the pandemic. In 2020, the Colombian GDP for lodging and restaurants declined 37 percent, reducing its share of Colombia’s economic activity from 3.8 percent in 2019 to 2.5 percent in 2020. The HRI sector is expected to recover at a slow pace, reaching pre-pandemic levels by 2023.