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 52 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

DP World announces new Freight Forwarding office in Bogotá, Colombia

DP World has opened a new freight forwarding office in Bogotá, Colombia, marking a significant expansion of its logistics services in the region. The company aims to strengthen its global supply chain network, enhancing trade routes and facilitating smoother transportation for businesses in Colombia. This move is expected to improve the country's logistics efficiency, giving local companies better access to international markets. DP World's presence will also contribute to the economic growth of Bogotá by creating jobs and supporting trade activities. The new office highlights Colombia's strategic importance in global trade and logistics (Business Wire, 2024).

Centre for the Fourth Industrial Revolution to Launch in Medellín, Colombia

The World Economic Forum is launching a Centre for the Fourth Industrial Revolution in Medellín, Colombia, a move that positions the city as a hub for technological innovation in Latin America. The centre will focus on emerging technologies such as artificial intelligence, blockchain, and the Internet of Things, aiming to help the region harness these advancements for economic and social development. By fostering collaboration between governments, businesses, and academic institutions, the centre will drive digital transformation and policy reform. Medellín’s selection underscores Colombia’s growing role in the global tech landscape. This initiative is expected to create new opportunities for innovation and entrepreneurship in the region (World Economic Forum, 2024).

Colombia Makes Its Biggest Gas Discovery in Four Decades

Colombia has announced its largest natural gas discovery in 40 years, located off the coast of the Caribbean Sea. This significant find is expected to increase the country's natural gas reserves and reduce reliance on energy imports. The discovery could have a positive economic impact by providing more affordable energy options and supporting industrial growth. Additionally, it enhances Colombia’s position as an important energy player in Latin America. The project is set to attract foreign investment and create jobs, contributing to the nation's long-term energy security and economic development (Finance Colombia, 2024).

Politics

Colombia: Strategic Option for the United States

Colombia continues to strengthen its strategic relationship with the United States, reaffirming its role as a vital ally in the region. Both countries benefit from their collaboration on security, economic development, and efforts to combat drug trafficking. The U.S. recognizes Colombia's geopolitical importance, making it a key partner in addressing regional challenges. This partnership has also opened up opportunities for investment and trade between the two nations, fostering mutual economic growth. Colombia’s stability and shared values with the U.S. make it a crucial player in promoting democratic governance in Latin America (U.S. Department of State, 2024).

COP16 and its Role in the International Agenda: Natural Capital in the Spotlight

The COP16 summit, held in Colombia, has placed natural capital at the forefront of the international agenda. The conference emphasizes the urgent need for sustainable management of ecosystems and biodiversity to tackle global environmental challenges. Leaders and stakeholders from around the world are discussing the critical importance of valuing natural resources not only for environmental protection but also for their contribution to economic development. The event highlights how biodiversity can be integrated into financial systems and economic models, encouraging countries to invest in environmental preservation. COP16 aims to drive a global shift towards recognizing the value of natural capital and its essential role in sustainable development (France24, 2024).

Colombian Government Steps Up Enforcement of Ban on Animal Testing for Cosmetics

The Colombian government recently intensified its enforcement of the ban on animal testing for cosmetics, reinforcing the country’s commitment to ethical and sustainable practices in the beauty industry. This legislation, which prohibits the use of animals in testing cosmetic products and ingredients, marks a significant milestone in Colombia's efforts to align with international standards on animal welfare. The increased enforcement includes strict regulations and oversight to ensure compliance by both local and international companies. This move has been applauded by animal rights organizations and positions Colombia as a regional leader in cruelty-free cosmetic production. The government’s actions reflect a broader push towards ethical and sustainable development in the industry (Finance Colombia, 2024).

Travel & Culture

Colombia Reports Increase in Foreign Tourist Arrivals During First Half of 2024

Colombia experienced an 8.5% rise in foreign tourist arrivals during the first half of 2024, totaling 3.1 million non-resident visitors. Bogotá, Antioquia, and Bolívar were the top destinations, with the United States leading as the main source of travelers. This reflects improved connectivity, a growing reputation for sustainable tourism, and an increase in cultural events and eco-tourism initiatives. Additionally, government efforts to strengthen the tourism sector have contributed to making the industry a key driver of Colombia's economic growth (Finance Colombia, 2024).

Bogotá, Most Visited Destination in Colombia in Q1 2024

Bogotá emerged as the most visited city in Colombia, attracting 1.6 million visitors, which represents a 7.6% increase from the previous year. The capital accounted for 36.7% of the total visits, followed by Antioquia and Bolívar. The report highlights a significant rise in air travel, with nearly 13.1 million flights recorded. The majority of foreign visitors hailed from the United States, Ecuador, and Mexico. The growth underscores Bogotá's appeal as a prime destination for leisure and cultural experiences (Bogotá Mayor's Office, 2024).

Bogotá: Strategic Host for Routes Americas 2024 and Aerospace Innovation Hub

Bogotá will host Routes Americas 2024, a major event for air route development, thanks to its strategic location between the Atlantic and Pacific oceans. El Dorado International Airport offers strong domestic connections, making the city a key hub for exploring Colombia's diverse tourism. The country has seen significant growth in tourism and air transport, supported by Colombia's Aeronautics Strategic Plan 2030, which aims to modernize infrastructure and double cargo transport. Bogotá is also recognized for its thriving economy, attracting multinational companies and being an aerospace innovation leader (Routes, 2024).

 

Colombia´s Trade Partners

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