There’s so much more to Colombia than its strategic geographic location and robust infrastructure that makes the city a significant business hub in the region. Its diverse economy is constantly growing, with key sectors such as sustainable energy transition, food sovereignty, agro-industrialisation, healthcare reindustrialisation, and knowledge-based services showcasing how Colombia is a fertile soil for capital to flourish.
Colombia is one of the very few countries that can enjoy year-round production of numerous and immensely diverse products. This is because its tropical location and mountainous topography create a series of remarkable factors like diverse soils, varying climate zones, abundant land, plenty of sunlight, and rich water sources that make the country a dream destination for agro-industrial investments. The FAO has recognised that Colombia has great potential to serve the role of one of the world’s pantries by producing, processing, and exporting large amounts of food.
ET SpotlightManagro, Valle del Cauca, Colombia
The aforementioned water resources have allowed Colombia to build one of the cleanest energy matrixes in the region: nearly three-quarters of its energy is hydroelectric. Recent governments have sought to implement modern regulatory, institutional, and market frameworks to continue diversifying Colombia’s energy sources, aiming for a sustainable transition away from fossil fuels.
The 76th session of the UN General Assembly recognised Colombia as a Global Champion in the High-Level Energy Dialogue in 2021, and BloombergNEF's Climatescope 2022 ranked the country as the 4th global destination for renewable energy investments.
ET SpotlightAes Corporation, Meta, Colombia
This capacity is already being utilised by companies in the tech and manufacturing sectors. Once again, the country’s geographic location enjoys stable temperatures throughout the year, favouring optimal data centres’ energy consumption levels. Additionally, according to SSON Analytics Global Data Analytics Center in 2022, Bogotá was considered one of the safest cities concerning natural disasters, compared to other urban centres like Mexico City, San Juan de Puerto Rico, or São Paulo. Major global companies have decided to increase their capacity in the country to meet growing demands. IBM, for instance, built a 5000-m2 complex, and its data centre reached a power of 1.9 megawatts, with two 100% redundant generators, while Etix invested in a modern Tier IV-certified data centre near Cali.
ET SpotlightGeneral Motors Bogotá, Colombia
The Colombian software and IT services sector is of great relevance to both the national and international markets. In 2021, it positioned itself as the third-largest IT market in Latin America, exceeding USD 1.8 billion, according to IDC. It continues to pioneer the development of public policies and regulation of AI, and the country’s time-zone compatibility with both U.S. coasts renders it an ideal nearshoring location for operations. Additionally, high-quality telecommunications connections (with 10 submarine cables in operation and 2 more under construction) allow for excellent connections and faster data transmissions.
Connections like these greatly favour the development of knowledge-based services, such as the audiovisual and software industries. For years, Colombia has exported series and hit soap operas such as Yo Soy Betty, La Fea, Café Con Aroma De Mujer, Sin Tetas No Hay Paraíso, and Pasión De Gavilanes, which have been broadcast in many countries around the world. Today, the sector continues to export high-quality productions to the Latino market in the U.S. and Europe, with reality shows, documentaries, and cultural programs, among others, joining the offer. Moreover, the national film industry has gained unprecedented notoriety in recent years, being present, nominated and awarded at events such as the Oscars, Golden Globes, and the Cannes Film Festival. It is now easy for production companies to find state-of-the-art production equipment that meets the most demanding standards, such as studios, cameras, optics, and lights, as well as local businesses that provide stunts, RVs, and air and land vehicles for the needs of any large shoot. Post-production, dubbing, and special effect studios are ready and waiting to provide their services once shooting wraps up.
Colombia is brimming with cheerful and committed people who always go above and beyond expectations. Another advantage that the South American nation offers to its investors is human capital. The country ranks third in the availability of qualified labour, with 3 universities in the global top 500 and 13 in the Latin American top 100, according to the Labor Observatory. Colombia provides constant training and education campaigns, and the National Apprenticeship Service (SENA) promotes various spaces for technicians and technologists to be trained in different areas. The country pays competitive salaries, which has attracted large companies to move their operations to Colombia to serve markets like Spain and the U.S. This cost-effective resource is ready to adapt to the fourth industrial revolution the world is currently experiencing.
ET SpotlightNestlé Valle del Cauca, Colombia
Large multinational companies in the cosmetics and personal care sector, such as L'Oréal, Unilever, P&G, Johnson & Johnson, Kimberly Clark, Belcorp, and Yanbal, among others, have productive operations in Colombia. In 2021, the value of sector exports reached USD 602 million. But there are also growing businesses such as the automotive manufacturing industry, in which the country ranks fourth in Latin America, and the construction materials industry, with a network of trade agreements that allows 0% tariffs to enter important markets in Europe and North and South America.
Colombia’s unbeatable location profiles it as an export platform to satisfy consumers in the Americas. The development of transport infrastructure, leveraged with public-private investment models that are still underway, reduces transportation times from the source to ports, where excellent air and sea connections allow for competitive delivery times, with access to the U.S. in 5 days and access to the Netherlands and other European ports in 12 days.
So, if you're planning to invest, there's a place where you can get more than what you aspire to from your investments. And if one thing is certain, it’s that investing in Colombia always means more.
(This article is generated and published by ET Spotlight team. You can get in touch with them on etspotlight@timesinternet.in)
