15 de April 2016

Financial Times ranks Bogota 4th ‘State of the Future’ of South America

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Bogota has been ranked as the fourth South American region of the future among 133 states and regions evaluated in the South American States of The Future ranking of the Financial Times’ fDi Intelligence research center, thanks to its favorable business environment, economic potential, human capital and connectivity. The city climbed one position regarding the ranking of 2014, and now ranks higher than Santiago and Lima.

The ranking, published today in fDi Magazine, evaluates 5 categories: Economic Potential, Human Capital and Lifestyle, Costs, Connectivity and Business-Friendly Environment. It also includes a sixth category called FDi Strategy where experts qualify the foreign investment strategy implemented by each of the regions analyzed.

In the latter category Bogota was recognized as having the second best strategy for promoting foreign investment, after Paraná and bettering such important regions as Sao Paulo and Rio de Janeiro.

"This ranking goes to confirm how attractive the Bogota Region is for business. In the last year over 30 new foreign companies arrived, creating jobs and production chains, and making Bogota a more competitive and productive environment that leverages the economic and social development of its citizens and all Colombians," says Juan Gabriel Pérez, Director of Invest in Bogota, Bogota’s investment promotion agency.

The important results obtained this year are a reflection of the investment promotion strategy that has been implemented by Invest in Bogota together with the Office of the Mayor of Bogota and the Bogota Chamber of Commerce of. In this regard, Freddy Castro, District Development Secretary, notes that "these findings ratify the leadership and international positioning of the Bogota Region as an important regional center for business, thanks to the work done by the public and private sectors. We will continue working to consolidate Bogota as a city that bases its development on knowledge and attracting investment and human talent."

The report prepared by fDi Intelligence highlights Invest in Bogota’s use of web platforms and digital channels and its active planning and organization of promotional events for the target markets. It also emphasizes the follow-up by the agency on projects installed in the city to ensure greater success in attracting investment and reinvestment, as well as the strategy for attracting anchor companies, which contribute to the generation of clusters and strengthening production chains.

The results obtained in the other categories evaluated for Bogota, were as follows:

  • Favorable Environment for BusinessSecond. In this category, the Bogota Region outperforms those of Buenos Aires and Rio de Janeiro.
  • Economic potential: Ranked fourth, following the evaluation of such macroeconomic variables as GDP, population growth, unemployment and inflation, as well as FDI flows.
  • Human Capital and Lifestyle: Bogota ranks fifth according to the size of its workforce as a percentage of the population, number of students and higher education institutions and life expectancy.
  • Connectivity: Ranked fourth in internet connectivity, mobile telephony and roads and airport infrastructure.

On learning of the ranking, Mónica de Greiff, President of the Bogota Chamber of Commerce, said that "thanks to the entrepreneurs who have bet on Bogota as a competitive city we have achieved these important results, which we accept as a challenge to continue to build, together, a city that offers a friendly environment for business. There are now 650,000 entrepreneurs and businessmen and women who reaffirm Bogota as an engine of the Colombian economy."

Other Colombian regions including Atlántico, Antioquia and Casanare were also evaluated in the ranking. Among these, Bogota is the only Colombian region ranking in the top 10 in the overall ranking.