Bogota is the economic and political capital of Colombia, the city that stands out 2,600 meters closer to the stars, the town that was once named the South American Athens, and, also, one of the most important business cities in the region.
Get to know 10 reasons that make Bogota one of the strongest business cities in Latin America.
1. It has a large and world-class human talent pool
Bogota has a workforce of more than 6 million people. This number is higher than the available human talent of cities such as Lima, Mexico City, Santiago, and Buenos Aires.
Furthermore, its human talent is world-class and has been recognized for its academic education, willingness, and adaptability. According to the Global Cities of the Future ranking, Bogota is the 7th great city in the world with the best human talent.
(Financial Times highlights Bogota’s human talent in the Global Cities of the Future ranking)
2. It attracts foreign companies’ investments and projects
Bogota is the city that attracts the most foreign investment projects in Colombia. In 2019, these projects represented 48% of the total number of projects that arrived in the country. This number is high when it is considered that Colombia is one of the top 10 developing countries to attract the most projects of that nature in the above-mentioned year.
Among the nationalities of the companies that have developed the most investment projects in Bogota are the United States of America, Spain, France, United Kingdom, and Germany.
3. It has a resilient and strong economy
Bogota’s economy drives the economy of Colombia. Bogota’s GDP represents 31% of the total GDP of the country and is even higher than the GDP of entire countries such as Panama, Costa Rica, Uruguay, Bolivia, and Paraguay.
4. It has a robust entrepreneurship ecosystem
Bogota has the second-best emergent entrepreneurship ecosystem in Latin America, according to Startup Genome. The city is also home to more than 28 startups that have received investments of more than 1 million dollars, such as Rappi, Muy, Merqueo, and Platzi, among others.
5. It is inclusive and values women’s talent
Bogota is an inclusive city that gives opportunities and believes in the talent of every person, no matter who she or he is. A good example of this is that more than 70% of entrepreneurships and startups in Bogota have women on their board of directors, according to a survey done by Invest in Bogota.
6. It is a leading city that looks towards the future
Due to its human talent, business environment, cultural experience, and stability, Bogota has been recognized by AT Kearney as one of the top Global cities of Latin America.
In addition, due to its human talent and its lifestyle, it is considered one of the American Cities of the Future by fDi.
7. It is a fintech center
Bogota is developing into one of the top fintech centers on the continent. In 2020, Bogota was recognized as the number two Spanish-speaking city in the Fintech Ecosystem Global Index, by Startup Blink.
8. It has one of the top airports in the region
El Dorado International Airport is the top cargo airport in Latin America and the third in the flow of passengers.
It was also the first airport in South America to receive five stars by Skytrax, because of its biosecurity measures against covid-19.
(Bogota El Dorado Airport is the first airport in South America to receive the 5-Star COVID-19 Safety Rating)
9. It is a leader in business tourism
Bogota is the top business tourism city in South America, according to the World Travel Awards. It is also the city that holds the largest number of international events in Colombia.
The capital city of Colombia is a leader in culture and entertainment as well. Proof of this is that Bogota is the city that receives the most foreign visitors in Colombia.
(South America’s Leading Business Travel Destination 2020)
10. It balances business with sustainability
Bogota is undergoing construction and permanent development, but it does not ignore sustainability. A good example of this are the city projects that are being developed, which combine business, investment, and environmental sustainability.
Among these, one can highlight the Canoas Wastewater Treatment Plant. With an investment of more than $4.5 billion, it will contribute to the recovery of the Bogota River and treat the wastewater of Bogota. Also, Bogota’s fleet of more than 1480 electric buses is one of the largest electric bus fleets in the world.