Economic and financial impact of the Covid-19 pandemic on hotel entities in the municipality of Suesca

Abstract

The world economy has been affected because of the COVID-19 virus, one of the most affected sectors in Colombia is the hotel industry since the measures imposed on tourism restrict its development. This is the case of the establishments that provide lodging services in the municipality of Suesca -Cundinamarca, an important tourist destination in the department of Cundinamarca, strongly impacted by this sanitary contingency. This research seeks to analyze the economic-financial impact of the pandemic on hotel entities, specifically in Suesca. This situation has left this sector vulnerable and the data collected in the research indicate that this situation considerably affected the income of these entities; however, it is essential to take into account the new alternatives implemented to keep this industry afloat, such as camping sites, glampings and cabins, which may generate an unfavorable effect financially speaking, on traditional hotels.