Colombia is one of the most stable economies of Latin America, ranked as the 3rd most business friendly country in Latin America and the Caribbean. With an increasing middle class and a historic boom over the past decade, the country has become interesting to Dutch companies willing to expand to new markets. The country has 49 million inhabitants and access to a global market of 1.2 billion people due to their wide range of free trade agreements. The trade triangle of Medellín, Cali and capital city Bogotá is viewed as Colombia’s core business centre, while the three coastal cities Cartagena, Barranquilla and Santa Marta are crucial from a logistics point of view.
Even though Colombia has had to deal with its harsh reputation in the past, the country’s government worked hard to overcome this. Especially since signing a peace treaty in 2016 with a powerful rebellious group, the country has become much safer. This is noticeable in terms of doing business, where Colombia often acts as a business hub for other Southern American countries. Foreign investment has increased since 2010 and the Colombian gross domestic product has grown the most in comparison to surrounding countries.
Due to the country’s advantageous geographical location and a well-developed logistics infrastructure network, Colombia has become one of the largest exporters worldwide. Accounting for around 58% of Colombia’s exports are oil, coal, and coffee. Although agriculture is the driver behind the Colombian economy and the country’s healthcare is the most developed in South America, these industries still remain interesting for Dutch companies. Opportunities also lay within the sectors of water management, infrastructure, technology, urban mobility, energy and hydrogen.
Are you interested in exploiting the many benefits that the Colombian market has to offer? Through tailor-made research and more than 30 years of experience, IBR would like to explore your company’s opportunities in Colombia with you.