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10 reasons that make Bogota one of Latin America’s strongest cities for business

Fecha: 29 April, 2021
10 razones por las que Bogotá es una de las ciudades latinoamericanas más fuertes en los negocios

Bogota is the political and economic capital of Colombia, the city that is 2600 meters closer to the stars, the one that was once named South American Athens, and also one of the most important business capitals in the region. 

Learn below 10 reasons that make Bogota one of the strongest cities for business in Latin America. 

1. It has a large number of world-class human talent.

Bogota has a labor supply of more than 6 million people, larger in number than cities such as Lima, Mexico City, Santiago and Buenos Aires.

In addition, its human talent is world-class, and is recognized for its academic preparation, willingness and adaptability. According to the Goblal Cities of the Future ranking, Bogota is the seventh largest city in the world with the best human capital. 

(Financial Times highlights Bogota’s human talent in Global Cities of the Future ranking)

2. Attracts investment and projects from foreign companies

Bogota is the city in Colombia with the most foreign investment projects. In 2019, these accounted for 48% of the total number of projects that came to the country, a rather high figure considering that Colombia is one of the 10 developing countries that received the most greenfield foreign investment projects in that year.

Among the countries with the most investment projects in Bogota are the United States, Spain, France, the United Kingdom and Germany.

3. It has a strong and resilient economy

Bogota’s economy is the engine of the Colombian economy, as its GDP represents 31% of the country’s GDP. Its gross domestic product is even higher than that of many countries, such as Panama, Costa Rica, Uruguay, Bolivia or Paraguay. 

4. It has a strong entrepreneurship ecosystem

Bogota has the second best emerging entrepreneurship ecosystem in Latin America, according to Startup Genome. It is also home to more than 28 startups with investments of more than US$1 million, such as Rappi, Muy, Merqueo, Platzi, among others.

5. It is inclusive and values women’s talent.

Bogota is an inclusive city that provides opportunities and believes in the talent of all people regardless of gender. Proof of this is that more than 70% of startups and ventures in the city have women on their boards of directors, according to a survey conducted by Invest in Bogota in 2020.

6. It is a leading city that projects itself into the future.

For conditions such as its human capital, business environment, cultural experience and stability, Bogota has been named by AT Kearney as one of the global cities in Latin America. In addition, for its human capital and lifestyle, it has been recognized as one of the American cities of the future by FDi.

7. It is a fintech business center

Bogota is consolidating its position as one of the most important financial technology centers in the region. In 2020, it was ranked by Startup Blink as the second Spanish-speaking city in the global index of the fintech ecosystem.

8. It has one of the best airports in the region.

El Dorado International Airport is the main cargo airport in Latin America and the third airport in the region in terms of passenger traffic. 

It was also the first airport on the continent to receive five stars from Skytrax for its implementation of security measures against covid-19.

El Dorado is the first airport in the Americas to receive five stars from Skytrax)

9. It is a leader in business tourism

Bogota is the leading city in business tourism in South America according to the World Travel Awards, and is also the Colombian destination with the highest number of international events. 

And since Bogota is also a leader in culture and entertainment, it is one of the cities in Colombia that receives more foreign visitors, with 50% of those who come to the country.

(South America’s Leading Business Travel Destination 2020)

Bogota: the top business tourism capital in South America

10. Balancing business with sustainabilit

Bogota is in continuous development and growth, but does not forget sustainability. Proof of this are some of the large projects it is currently developing that combine business and investment with environmental sustainability.

These include the Canoas WWTP, which, with an investment of more than $4.5 billion, will help to decontaminate the Bogotá River and clean the city’s wastewater; and the fleet of more than 1,480 electric public buses, making Bogotá one of the cities in the world with the largest fleet of this technology. 

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Need more information?

Contact Invest in Bogota to receive all the information and advice you need to invest in Bogota and Colombia.