Major industries in Colombia: prepared to welcome international investors

Investment incentives

Articles

22 of November of 2021

Investors have more reasons to invest in Colombia, as it demonstrates why it is the world’s most welcoming place. Not only is it one of the top 3 best countries to do business with in Latin America, but its economic sectors are prepared to show the best of Colombia industrial production.

Colombia is open for business

Colombia is a country with a growing Gross Domestic Product and increasingly attractive policies for entrepreneurs. Thanks to its privileged geographical position, the variety of its climates and products, as well as the development of a legal, stable and flexible policy, the most welcoming place is the ideal platform for global trade.

The country’s large coastline on both the Atlantic and the Pacific oceans, which facilitates trade through the sea and the development of different port areas. Moreover, Colombia is directly connected to five countries in the region, making it a perfect place for bilateral trade development.

In the medium term (2022-2025) Colombia has positive prospects for economic growth compared to other economies in the region. International Monetary Fund.

On the other hand, the agro-industrial sector, tourism and technology industries are some of the economic sectors that have the country projected as one of the best places for foreign investment.

The agro-industrial sector is growing

Colombia's agricultural sector was one of the few to record GDP growth in 2021, increasing 1.5% compared to the same period in 2020, according to DANE. Growers and producers of special Colombian Products such as green coffee, fresh Colombian fruits like Hass avocado, banana, mango, Tahiti lime, oranges and blueberries, palm oil and beef, have seen an increase in demand.

8.5% annual growth in demand for packaged food is projected, a figure that would be above the world average and would make the region a market of interest that can be served from Colombia. Euromonitor.

Technology and innovation are leading

Services such as virtual education, telemedicine, psychology, physical training and remote technical services has accelerated new sources of online businesses. On the other hand, Colombian software and IT services have had business opportunities in North America. For example, Colombian companies have gained market with e-commerce, cybersecurity, Internet of Things, and web development solutions.

Sustainable tourism and biosafety

Colombia is ready to welcome travelers and investors interested in business tourism with the adoption of biosecurity measures. The most welcoming country has continued to obtain important recognitions that maintain its position as a top global tourist destination. For example, it has the “Certified Check-in, biosafe COVID-19", making it the first country in Latin America with this type of certification.

Also, more than 50 resolutions were adopted by the government which announce biosecurity protocols for all economic sectors including touristic activities, making it possible to visit nature, take an adventure and enjoy well-being tourism in Colombia.

Tourism is a key industry for the country, it generates more foreign exchange than other economic sectors.

Colombian people make the difference

The gradual reopening of the market begins to boost the labor force and employment opportunities. Colombians are the key to favorable growth for all sectors, regions and industries. Their skills and attitude towards work, as well as their warmth to build relationships, is one of the biggest reasons to invest in Colombia. For instance, the country’s services for outsourcing and BPO services are well-renowned.

The most welcoming place to do business awaits you with open doors. Discover why Colombia, here.