Investment projects in Bogota: the road to job creation and prosperity

Fecha: 30 May, 2023

The Colombian capital has experienced significant growth in foreign direct investment in recent years. From 2012 to 2022, more than 164,000 jobs have been generated in the Bogota-Region thanks to the 1,410 new and expansion investment projects that have come to the city, generating a value of $21,938 million. In addition, in the same period, Bogota-Region has been responsible for 59% of the participation in foreign direct investment projects, reflecting its importance as an investment destination in Colombia.

WeWork, Decathlon Colombia, Mercedes-Benz, Concentrix LTD, Claro, Endava, IBM, Scotiabank Colpatria, Amazon Web, Nestlé, Pull & Bear, Sutherland Global Services, Globant, L’Oreal, SABMiller, Acer, Asurion, Banco Bilbao Vizcaya Argentina (BBVA), Huawei Technologies and DHL Express are some of the companies that have invested in the last decade in the Bogota-Region. These companies have been confident in the city’s potential as a favorable destination for business, investment, and growth in both talent and new markets.

In 2020, as a result of the pandemic crisis, investment amounts were reduced to approximately USD 870 million, showing a recovery by 2022 where growth in investment was achieved reaching USD 1,538 million. The number of investment projects also increased significantly from 97 in 2020 to 143 in 2022.

This has meant that since 2020 approximately 51,052 jobs have been created in the city and an investment of approximately USD 3.96 billion has been generated.  

Our role in new and expansion investment projects

Between 2018 and 2022, Invest in Bogota managed to attract 200 foreign direct investment projects, valued at approximately $1,493.32 million and generated an estimated 39,777 jobs.

The best year in terms of the amount of investment attracted was 2019, totaling $610.07 million. However, due to the pandemic, 2020 saw the biggest decrease in both investment amounts and projects.

Due to this, the corporation has been working hard to improve and in 2022 attracted approximately $291.93 million more than in 2020, likewise, in 2022 Invest in Bogota obtained 14 more investment projects compared to 2020.

This means that in 2022, our agency brought to Bogota-Region 44 investment projects, valued at $406.62 million, thus generating approximately 10,750 jobs. This is a demonstration of the adaptability and resilience of the Colombian capital’s economy.

Additionally, in 2022, companies such as Acalis de Colombia, Accedo, Amadeus IT Group, Associated Brands Colombia, Astellas Pharma, Asurion, Blackshiip SAS, Clamper, Kapital, SGS Colombia S.A.S., Rhenus and many more bet on the ecosystem full of opportunities for business that Bogotá-Region represents.

Moreover, based on figures from Invest in Bogota, the most attractive sectors for foreign direct investment projects in Bogota-Region in 2022 were software and IT services, corporate services, communications, financial services, textiles, automotive OEM, and consumer products.

What does the future hold?

Invest in Bogota will focus on projects involving science, technology, innovation, and sustainability. The alliance between public and private sector actors will allow the promotion of projects related to renewable energy, data centers, telecommunications, IT services, creative industries, food and agricultural technology, sustainable manufacturing, medical devices, and pharmaceuticals, among others.

Invest in Bogota will also continue to participate in high-impact infrastructure projects, such as the expansion of El Dorado International Airport and the construction of the Bogota Metro, which will be fundamental for the city’s socio-economic development. The construction of the capital’s Metro, this project is expected to generate approximately 17,000 new direct and indirect jobs.

In this way, our agency not only seeks to boost investment and employment in the city but also aims to be a key player in the transition of Bogota’s economy towards the new trends of the global market.

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