Academia Open
Vol. 10 No. 1 (2025): June

Green Energy and Tourism Drive Colombia’s Economic Growth and Stability: Energi Hijau dan Pariwisata Mendorong Pertumbuhan dan Stabilitas Ekonomi Kolombia

Shavqiyev Erkin (Department of Digital Economy of SIES)
Ulugmurodov Farkhod Fakhriddinovich (Department of Digital Economy of SIES)
Ulmasov Diyorjon (Samarkand Institute of Economics and Service)



Article Info

Publish Date
16 Mar 2025

Abstract

General Background: Colombia's economy has undergone significant transformations, influenced by global and domestic factors. Specific Background: While historically reliant on agriculture and energy resources, recent shifts emphasize services, infrastructure, and trade diversification. Knowledge Gap: Despite sustained economic growth, challenges persist in employment generation, economic equity, and macroeconomic stability. Aims: This study analyzes Colombia’s economic transition, assessing policy changes, GDP fluctuations, and structural composition to identify key drivers of economic recovery. Results: Findings indicate that economic growth prospects are strongly linked to investments in green energy and tourism expansion. Inflation reached 9.7% in 2023, negatively affecting consumer spending, while rising public debt necessitates careful fiscal management. Novelty: This research provides a comprehensive evaluation of Colombia’s evolving economic model, highlighting the role of sustainable investments and technological modernization in fostering long-term stability. Implications: The study offers critical insights for policymakers in designing strategies to enhance economic resilience through green technology investments, service sector expansion, and global market adaptation. Highlights: Economic Shift – From agriculture to services and trade diversification. Key Drivers – Green energy and tourism boost economic growth. Policy Focus – Manage inflation, public debt, and macroeconomic stability. Keywords: Colombian economy, economic transition, green energy, GDP fluctuations, policy planning

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Journal Info

Abbrev

acopen

Publisher

Subject

Medicine & Pharmacology Public Health

Description

Academia Open is published by Universitas Muhammadiyah Sidoarjo published 2 (two) issues per year (June and December). This journal provides immediate open access to its content on the principle that making research freely available to the public supports a greater global exchange of knowledge. This ...