BOGOTÁ: AN ATTRACTIVE MARKET
Bogota has a market of more than 10.8 million inhabitants supported by a solid and diversified economy. In 2017, the city·s GDP represented 32.4% of Colombia·s total. It is higher than that of several Latin American countries such as Costa Rica, Uruguay, Panama or Bolivia. This is one of the largest and most dynamic markets in the region.
The productive structure of the city is diversified and has been consolidated as the country·s service center: services represent around 68% of GDP, 16% of commerce, industry 10%, and construction 5%. It is the financial capital of Colombia, and it generates almost half of the GDP of that sector in the country.
- Bogota is the largest business platform in Colombia, where more than 424 thousand companies are located, 32% of the companies in the country.
- It is one of the creative capitals of Latin America, it gathers 92% of the creative services of the country.
- According to the Doing Business 2019 Servicios al usuario Report of the World Bank, Colombia ranks fourth among the best countries to do business in Latin America, after Mexico.
- Thanks to this favorable environment for business, the number of multinationals that have decided to start operations in Bogota has multiplied. Currently, more than 1,550 companies with foreign capital are located in the city.
- According to the IMD ranking for 2017, Colombia has the fourth-most qualified labor force in South America, behind Chile, Argentina, Brazil and ahead of Mexico, Peru and Venezuela. It ranks 58th out of 63 economies.
- According to the ICCA 2018 ranking, Bogota was the city in Latin America with the highest number of attendees at events in 2017, with 52,868 people in 52 registered events; 2,231 participants above Buenos Aires that recorded 131 events.
- Since 2015, Bogota is part of the BestCities Global Alliance, the select group of 12 cities in the world recognized for their ability to hold major international events. It is the only Latin American city with this recognition.