This is the first chapter of Ongresso‘s Colombia Market Entry Guide 2022, we present an overview of what you should know and/or be aware of when expanding your business to Colombia. More information about the region and services offered can be found on the Ongresso website. To stay informed about regional news and international business updates in Latin America, follow Ongresso on social media.
Chapter 1: Colombia – The Gateway to South America
Colombia has grown into one of the leading economic powers in the region over the past 10 years, overtaking countries such as Chile, Argentina, and Brazil in annual percentage GDP growth. Despite the continent’s many political challenges, Colombia is now a major destination for many international companies and investors. And rightly so, because with Medellin (Ranking as third best city in the world according to the Time Out Index 2022) and Bogota (One of Latin America’s fastest growing mega cities), Colombia provides an attractive market for international expansion. The country’s undisputed strengths include its geographical location, abundance of natural resources, and an innovative business environment that has been fostered by the local government and flourished thanks to its talented and well-educated workforce.