Why Colombia?

 

Colombia has the fourth-largest economy in the region and stands out for being one of the most stable economies in Latin America. Also, Colombia offers an attractive domestic market of more than 51 million inhabitants, being the 3rd largest country in Latin America and has multiple regions and business centers with a wide variety of sectoral demands. Furthermore, the attractive incentive policy and the preferential access that Colombia offers to more than 60 countries and 1.5 billion consumers around the world boost the arrival of investments.

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Latest News

Economy & Business

Fitch maintains Colombia's BB+ rating as the country's future prospects improve. 

Fitch Ratings, one of the big three credit rating agencies, confirmed the nation's credit rating at BB+, anticipating a stable future environment and business outlook. Fitch also thinks Colombia's ability to avert any upcoming economic fturbulence will be strengthened by the country's robust foreign direct investment as well as its strong exports-focused approach and trade (Finance Colombia, 2023). 

 

Colombia positions as the fourth-largest economy in Latin America as inflation decreases  

The central bank of Colombia's technical panel reduced its projection for inflation in 2023 to 9% from 9.5% before and decreased its expected growth for the fourth-largest economy in Latin America to 0.9% on Wednesday. The changes in the team's quarterly monetary policy report come after the bank's board unanimously decided on Monday to keep the benchmark interest rate steady at 13.25% for another month (Reuters, 2023) 

 

Exploring Colombia's Energy Market: Opportunities for International Collaboration 

To promote international investment in the renewable energy sector, the Colombian government has offered a number of incentives. These consist of tax breaks, exemptions from tariffs, and open bidding for renewable energy projects. Numerous foreign businesses have already expressed interest in investing in Colombia's renewable energy sector, showing that the government's efforts are beginning to bear fruit. 

Additionally, Colombia's energy transformation creates chances for cooperation in skill and capacity development. The energy sector in Colombia offers a wide range of chances for international cooperation. The country is a desirable location for international energy corporations due to its shift towards renewable energy and energy efficiency as well as its welcoming investment environment. International businesses can collaborate with Colombia to access a promising market and make a difference in the worldwide fight against climate change (Energy Portal Europe, 2023). 

 

Politics

Colombia, Jamaica, and Panama have joined forces to address urban plastic waste.

In order to reduce marine plastics and plastic pollution in Latin American and The Caribbean cities through a circular economy approach project, the United Nations Environment Programme (UNEP) leads an initiative, with funding from the Global Environment Facility (GEF) and support from the Cartagena Convention Secretariat seeking to help Colombia, Jamaica, and Panama to adopt closed-loop policies at the city level, engage the private sector to do the same, and create an inter-city network among Latin American cities (United Nations, 2023).

 

Colombia and ELN rebels start a six-month truce

The major achievement for President Gustavo Petro in his campaign to put an end to decades of armed conflict is the implementation of a six-month truce between the Colombian government and the largest remaining armed rebel group in the nation.

The National Liberation Army (ELN) and the government are currently engaged in continuous peace negotiations that were renewed last year, and the current truce is scheduled to last through February of 2024 creating a positive and peaceful scenario for Colombia nationals and tourists (Al Jazeera, 2023)

 

Travel & Culture

Medellin qualifies as the best city to travel in July of 2023 for British Tourists  

The temperature, average sunshine hours, cost of lodging, food, and transportation, among other variables, were all taken into account by MoneyTransfers' travel specialists when deciding which destination offers the finest travel conditions. One of the most underestimated destinations in the world is the lovely Colombian city of Medellin, which was selected as the top vacation spot for July 2023. Tourists may enjoy everything the city has to offer "without worrying about spending a fortune" thanks to the "incredibly low" average daily costs of around $56 (£43)turning it into a perfect destination for tourism and business (The Express UK, 2023). 

 

The tourism push in Columbia results in the construction of high-end hotels worth US$1.5 billion. 

The Colombian government is sanctioning unprecedented amounts of tourism-related investment, which is proving beneficial for high-end hotel developments in the country in northern South America.The Tourism Sector Plan 2022–2026 is being implemented by the country's Ministry of Trade, Industry, and Tourism, and it has already made a significant impact on the nation's tourism industry in its first year converting Colombia into a top destination for tourists (Top Hotel Project News, 2023). 

 

What  draws so many tourists to Colombia?  You need to see it yourself¡¡ 

With five distinct geographical regions contained inside its borders—the Caribbean, the northern desert and grassland plains of los Llanos, the Amazon rainforest, the Andes mountain peaks and alpine region, and the Pacific Coast—Colombia can be considered a microcosm of South America.  This diversity is really appealing and makes it a delight to discover Colombia's geographic and cultural diversity, intriguing history, delectable cuisine, and friendly, welcoming culture, which is full of surprises for tourists (Adventure Travel News, 2023). 

Colombia´s Trade Partners

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