06 de December 2019
Foreign Direct Investment in Bogota may exceed US $2.9 billion in 2019
In an analysis conducted by Invest in Bogota, Bogota’s investment promotion agency, new and expanding investments in the Bogota-Region are estimated to grow by about 10% compared to 2018. Five different economic sectors are expected to draw capital inflows to the city.
New and expanding foreign direct investment in the Bogota-Region – including some of Bogota’s surrounding municipalities that are part of the Department of Cundinamarca – may amount to over US $2.9 billion in 2019, which is 10% greater than the amount registered for 2018. Calculated by Invest in Bogota’s Research and Market Intelligence team, this estimate accounted for both Bogota’s historical FDI records and some of its macroeconomic variables.
“This forecast confirms that Bogota is one of the leading investment destinations in Latin America,” states Juan Gabriel Pérez, Executive Director of Invest in Bogota. According to Pérez, 2019 may also be Bogota’s third consecutive year for growth in foreign investment, which started in 2016 at an estimated amount of over US $1.7 billion.
This analysis also revealed that during the first half of 2019 more than US $1.4 billion in foreign capital may have been brought into the Bogota-Region for new projects and expansion projects, a 22% increase compared to this same period for 2018. This investment came as a result of over 80 projects that created about 11,000 direct jobs for the city.
This same period experienced a significant influx of investment projects in the software & IT service sectors (13%), corporate services (12%), communications (7%), textiles (7%), commerce (6%) and pharmaceuticals (5%).
“The sectors in Bogota that receive the most investment projects align with both Invest in Bogota’s promotion strategy and with Bogota-Region’s Smart Specialization Strategy, which is geared to using innovation and technology to make Bogota and Cundinamarca a more prosperous and competitive region,” Pérez states.
The sectors that are part of Invest in Bogota's investment promotion strategy – and where projects, opportunities and investment potential have been identified – include the life sciences (including the medical device, pharmaceutical, cosmetic and health service industries); technology-based services (including the IT and BPO industries); light manufacturing (including construction materials, and food and beverages); citywide infrastructure projects; and the creative industries.
More than 500 investment projects in Colombia’s capital
One of the most noteworthy figures from Invest in Bogota’s analysis is the total amount of investment projects in the Bogota-Region between 2016 and the first half of 2019. The analysis calculated that this region had over 500 projects come from different international companies, creating an estimated 57,000 new jobs.
For this period, the Bogota-Region is estimated to have received approximately US $8 billion in foreign direct investment in new projects and expansion projects, a figure similar to that which was reached for the entire four-year period of 2012-2015.
Between 2016 and the first half of 2019, and by number of investment projects, the European Union as a whole is the main investor for the Bogota-Region (41%). By country, the United States is ranked first (24%), followed by Spain (17%), France (8%), the United Kingdom and Chile (4%). Overall, investment projects in the Bogota-Region came from companies from 44 countries.