Bogota, Fifth Business-Friendly Country in Latin America
According to the annual ranking of AméricaEconomía magazine, the Colombian capital climbed for the second year in a row, placing it fifth place out of 52 cities in the region.
Bogota moved up the ranking thanks to its rating in the Sub-indicator of “Human Capital and Growing Economy”, which measures, among others, the quality of universities, their curriculum, and their publications.
Likewise, Bogota improved in the “Executive Services” indicator. Variables like the number of ATMs, number of schools with international pre-university studies, hospitals and clinics with the highest quality standards and presence of international hotel chains, among other factors, help the city provide entrepreneurs all the services they need to work.
The city not only gives investors a positive business environment, but also a thriving value-added services industry, a qualified work force including 4 million people, and a strategic geographical location to engage in business operations both in Colombia and all of Latin America.
The Colombian cities analyzed by AméricaEconomía besides Bogota include: Medellin (15th place), Cali (21st place), Cartagena (25th place), and Barranquilla (29th place).
AméricaEconomía’s ranking is based on the Urban Competitiveness Index (Indice de Competitividad Urbana, ICUR) methodology and calculations, which include quantitative and perceptual variables that companies and executives take into account when they chose a city for business purposes.
The following variables are assessed: Macroeconomic and political-social structure in the country, local economy dynamics and strength, business services, quality of life, safety, physical and digital connectivity, intellectual capital, environmental sustainability, among others.