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General facts and figures of Bogota (2021)

Population: DANE, National and regional population forecast 2018-2050.
GDP: DANE, Regional accounts. GDP current prices. Due to the availability of information, the data corresponds to the GDP of Bogotá.
Unemployment rate: DANE, Labor Market statistics
Imports, exports: DANE, International trade statistics.
National long-term rating: Rating assigned by Fitch Ratings for long-term debt of Bogotá relative to other issuers within the country.


Bogota is Colombia’s engine

 

1 Process Invest in Bogota based on DANE, Regional accounts, GDP current prices. This calculation includes services such as: electricity, gas and water services; trade, restaurants and hotel services; transportation, storage and communication services; financial, real state and insurance; social and personal services; professional services and artistic activities, entertainment and recreational services.
2. Share of export and import of Bogotá and Cundinamarca in Colombia´s total export and import. Invest in Bogotá process based on statistics of international trade of DANE.
3. Bogotá Chamber of Commerce Observatory.


Colombia

Moody’s long-term credit rating for Colombia. Baa2 ratings are subject to moderate credit risk. This grade denotes grade of investment.
Sources: DANE, population forecast; DANE, Regional Accounts; DANE, Quarterly accounts; DANE, Consumer Price index; DANE, Integrated Household survey; Legiscomex; Confecámaras; Central Bank of Colombia Colombia; District Treasury of Finance; Fitch Ratings; Moodys.


Privileged geographical position

One of the main attractions of Bogota is its privileged geographical position. Located in the center of the Continent and the country, the capital has an area of 1,775.98 km2 and offers a whole range of international connections. El Dorado airport is the first airport in Latin America to be recognized in the Covid-19 airport security classification with 5 stars, due to its high standards of cleaning and disinfection, best hygiene practices and compliance with biosecurity protocols. In addition to being the first airport in the world to be certified as a Leed Platinum building in operation and maintenance of existing buildings, version 4.1, awarded by the U.S. Green Building Council.

See the Bogota’s Strategic Location section 


Market

Bogota-Region represents a market of over 11 million people, equivalent to 22% of the nation’s population (50.37 million in 2020). Its strong and diversified economy explains why it makes sense to invest in Bogota.

Learn more about Market Access of Bogota


Business Environment

Colombia’s economic situation is reflected in its capital’s positive indicators. Bogota has a favorable climate for business. In 2021, Bogota’s GDP accounted for 25% of Colombia’s total, namely USD 79.47 billion. In 2021, Bogota Region’s per capita GDP reached USD 10.144, significantly higher than the USD 6,158 per capita GDP for the country.

In 2021, the Metropolitan Region hosts 28% of the country’s corporations, 52% of its financial transactions, and 39.1% of the country’s international trade.

The metropolitan Bogota Region exported USD 5,360 million (FOB) and imported USD 34,593 million (CIF). In addition, the number of companies with foreign capital that have decided to start operations in Bogota has increased by more than 200 in the last ten years; in 2021, a total of 1,295 foreign companies set up their operations in the city. 

The strength of Bogota’s economy is evident in its dynamism. During part of the last decade, the city’s average economic growth was higher than that of Latin America. In 2021, the economic region grew by 10.3%, while Latin America was growing around 6.2%.   

The city’s solid economic performance is reflected in the outstanding stability of its prices. Bogota has one of the lowest inflation rates among the most important cities in Latin America. In 2021, inflation was 4.62%, below cities as Buenos Aires and Rio de Janeiro.

Learn more about Business Enviroment


Foreign Investment

Bogota Region is a business-friendly city that offers investors one of the best entrepreneurial environments in Latin America. According to the latest World Bank analysis, Bogota is the third city in Latin America for easiness in conducting business.  

Flows of foreign direct investment (FDI) to Colombia have performed remarkably well throughout the last decade, reaching an all-time high of USD 16 billion in 2013. 


Business Climate in Colombia and Bogota Region

Colombia is one of the best business environments in Latin America and one of the most competitive countries in the region. In the last decade, the country has made efforts to improve its investment climate, and as a result, foreign direct investment into the country has grown.

Due to the stable and investor-friendly business climate, investment flows peaked in 2013 with more than USD 16 billion of FDI. In 2021, foreign investment was USD 9,402 million. This figure presented an increase of 26% between 2020 and 2021 and a recovery of 67% compared to 2019.

Source: Colombia’s Central Bank, Balance of payments.

In fact, according to investment trends, Colombia is one of the largest recipients of FDI in Latin America, which sets it as one of the best countries to invest in the region.


Growing International Trade 

Thanks to trade liberalization measures, Colombia’s foreign trade reached more than USD102 billion in 2021. In that year, trade in the country increased by 37% and reached higher levels than in 2019, evidencing Colombia’s rapid economic recovery after Covid 19.

Source: DANE, Trade Balance

Contact an advisor

Contact Invest in Bogotá to receive all the information and advice you need to invest in Bogota and Colombia.

Mauricio Romero

Mauricio Romero

Gerente de Apoyo Estratégico mromero@investinbogota.org

Need more information?

Contact Invest in Bogota to receive all the information and advice you need to invest in Bogota and Colombia.

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