Improved Business Environment in Colombia

This section provides information about the Improved Business Environment in Colombia:

  • Historically, Colombia has been distinguished by outstanding economic stability. GDP growth remained constant over the last seventy years.
  • Colombia has managed to control inflation, and it has never experienced hyperinflation. This stability has been reinforced by the inflation rates of a single digit from 1999.
  • Colombia has never failed to fulfill its international financial obligations.
  • According to the Nominal GDP, Colombia is the 36th greatest economy in the world and 5th in Latin America and the second largest Spanish speaking population in the world.
  • According to The World Bank, Colombia: the third most “business friendly” country in Latin America and the first country in Latin America that best protects investors and its rank fifth worldwide.
  • In six years Colombian exports tripled, growing from US$ 13,129 million in 2003 to US$ 32,852 million in 2009.
  • Agencies examining the economy showed improvement in Colombia's confidence index. For 2008, S& P, one of the most prestigious risk examining agencies, gave Colombia a BB+ rating in regards to its long term foreign currency debt.
  • Foreign Direct Investment is four times greater than six years ago, growing from US$ 1,720 million in 2003 to US$ 7,201 million in 2009.  International companies including SAB Miller, Drummond, Votorantim, Phillip Morris, GE Money were among the many to invest in multimillion dollar projects in Colombia.
  • In six years international visitors in Colombia  tripled growing from 668 thousand visitors in 2003 to 1.7 million visitors in 2009. While tourism in the world fell 4% in Colombia it  increased 10.2% in 2009.

If interested in obtaining more data on Colombian Growth and Stability, we invite you to go to this section.

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Proexport Colombia  is the bureau in charge of tourism, foreign investment and export promotion in Colombia.

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