19 de December 2019
Bogota gains ground as a key destination for IT and BPO companies in India
Together with the support of ProColombia, Invest in Bogota recently toured different cities in India in order to promote Bogota as a key investment destination in Latin America for technology and service outsourcing companies.
The investment promotion agency Invest in Bogota – together with ProColombia – toured the Indian cities of Mumbai, Bangalore, and New Delhi to promote Bogota as a key city for hosting IT and service outsourcing operations, sectors in which India is a world leader. The tour included visits to more than a dozen companies, some of which already have a presence in Colombia’s capital.
The current trend of India’s companies is to migrate its offshore operations to nearshore ones to give support to North America. This consists of having sites close to the geographic locations of clients to which services are provided in order to take advantage of being in the same time zone and having short travel distances. This trend has caused great opportunities to open up for Latin American markets, especially for cities like Bogota.
All of this has been made possible for Bogota due to factors such as its strategic location, as it is in the same time zone as the east coast of United States; Colombia’s ten submarine cables, which make it the second country in the region with the best connectivity; the skilled human talent available in the areas of interest for these sectors (in the last ten years, the number of Colombians who have graduated in fields of interest for these sectors has tripled, and more than half of these graduates are located in Bogota); the number of bilingual people in the city, which is host to more than 70% of the country's bilinguals; and the competitive cost of its salaries.
It is also important to keep in mind that between 2014 and the first half of 2019, Colombia received about USD $24 million in new or expanding investments in the IT/BPO sector, which helped to create over 1,300 direct jobs. Bogota has been a key player in this investment, as 48% of its service outsourcing sites and 68% of its IT companies are based there.
“Based out of Bogota, we provide IT and BPO services not only to Latin American countries such as Chile or Argentina, but to other countries as well, such as the United States, Spain, the Netherlands, and Ireland, and we hope to continue expanding our markets. These sectors are in constant growth. From 2015 to 2018, the export of IT services in Colombia has grown by 8%; while between 2013 and 2018, service outsourcing has increased by 12%,” states Juan Gabriel Pérez, Executive Director of Invest in Bogota.