Colombia has risen to the number one position for export investors after her fast recovery from recent civil wars. It tops the figures for investment growth in South America as business and government want to catch up on the times lost to the bitter guerrilla wars. Within the last decade Colombia’s economy has grown annually by an average of 4.7%, despite the global financial crisis, and has replaced Argentina as second largest South American economy. This growth has led to an increased per capita income (2015: US$14,164) and a growing middle class. Private domestic consumption is therefore of major interest for foreign companies who wish to become involved in the country with the third largest Latin American population after Brazil and Mexico.
Its favourable geographical location with access to both the Atlantic and Pacific oceans and attractive conditions within the free trade zones, enforce Colombia’s position as a regional hub. International firms are increasingly taking advantage of the improved international connections, highly educated employees, and best investment protection schemes within Latin America.
Strategic upgrading of the public infrastructure will continue to improve the desirability of the market and US$ 33 billion have been allocated for this purpose within the next few years.
- Population: 47 million
- GDP: US$ 683 billion (PPP basis, 2015)
- Main economic activity: Financial and other services, industrial production, trade, agriculture, mining, tourism
- Main imports: oil derivatives, airplanes, automotive and –parts, computers and IT
- Main exports: Oil and petroleum derivatives, coal, coffee, cut flowers, nickel
Head of International Business Development, Glice Innovational AG
Director Americas, Trunz Water Systems AG
Verkaufsleiter Lateinamerika, Keller Druck AG
Processes Applied: Market Testing
Deputy Sales Director, Doppelmayr Seilbahnen GmbH
Processes Applied: Business Model Implementation