Comparison of tourism incentives by Latin American countries in tax matters

Abstract

The present study attempts to conduct a comparative analysis of the economic incentives granted by the
different countries in the Latin American scope to potential domestic and foreign tourism investors as well
as tourists themselves in the study’s target countries. Likewise, it is intended to see if the incentives granted
in Colombia are appealing enough as to attract foreign investors with capitals good enough to make the
tourism business a strong player within the economy and capable enough to generate employment and
wealth plus, in fact, expediting the economic growth of the country.
Along that line of thinking, the analysis will be carried out from a tax incentives standpoint for further
advice on necessary adjustments that will allow Colombia to be more competitive in the tourism business’
international scenario, thus highlighting the importance of tourism in our economy.