Bogota, on the top 5 of Latin American capitals recommended to invest

Date: 25 May, 2022

The city was highlighted in the most recent edition of Best to Invest, a publication of Site Selection magazine, which included the Colombian capital for aspects such as its economic outlook and the evolution of its entrepreneurship and innovation ecosystem.

The positioning of Bogota as one of the most important destinations in Latin America for attracting Foreign Direct Investment (FDI) projects was recently revalidated by Site Selection magazine, which in its most recent edition of the Best to Invest publication highlighted the Colombian capital as one of the five metropolitan areas recommended for investment in the region.

Bogota shares the recognition with Mexico City, Buenos Aires, Santiago and Monterrey, in a ranking that, on this occasion, was based on economic projections and indexes such as the Kearney Global Cities Report 2021 and the Global Startup Ecosystem Report 2021 (GSER).

According to the GSER, a publication of the international platform Startup Genome, Bogota is part of the list of the 100 most important emerging entrepreneurship ecosystems in the world, a ranking in which the Colombian capital ranks as the second city in Latin America.

“For Bogota, in a changing global environment such as the current one, it is very important to continue to be highlighted as one of the Latin American capitals that leads in attracting investment,” said the Executive Director of Invest in Bogota, Isabella Muñoz.

As part of its strategy to attract foreign investment, the capital is seeking projects that promote diversity, knowledge transfer and social and economic development.

In 2021, Foreign Direct Investment had a significant rebound in Bogota, exceeding USD 1,551 million through 115 investment projects. This is equivalent to a 78% growth compared to 2020.

In addition, investment in startups will be key to the recovery of FDI in the Bogota Region, at a time when investment flows in startups are experiencing a historic moment. “Only in the first quarter of 2022, according to Invest in Bogota calculations, there were 41 capital raising operationsfor US$ 553 million, which represents 35.3% of the transactions carried out in 2021,” Muñoz added.

Colombia, attractive for investment

The regional section of Site Selection’s ranking also highlights that Colombia is one of the five most attractive countries for investment in Latin America and the Caribbean.

“Colombia confirms its position as one of the most attractive destinations for investment in the region. Its economic performance, institutional solidity, incentives, clear rules, in addition to multiple development poles and a competitive export platform, make our territory a welcoming nation for foreign direct investment, which maintains its growth and expansion pace, thus being one of the country’s development axes,” says Flavia Santoro, president of ProColombia.

Data from the exchange balance of Colombia’s Central Bank show that FDI in the country reached US$3,994.8 million between January and April 2022.

The result represents a 78.6% growth when compared to the same period last year and is also higher than the US$3,381.9 million reached between January and April 2020.

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