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The Report: Colombia 2019

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    Country Profile

  • 220 Pages
  • July 2019
  • Region: Colombia
  • Oxford Business Group
  • ID: 4806568

The World Bank is Forecasting an Expansion of 3.5% in Columbia for 2019, Higher than the 2.6% Global Projection

Colombia is home to a distinctive blend of ethnicities, cultures, and geography, has the second-largest population in South America and is the continent’s fourth-largest country. After spending much of the second half of the 20th century embroiled in the world’s second-longest modern civil war, the 2016 peace accord brought a formal end to the conflict between FARC and the government. The end of the formal conflict has boosted the country’s image abroad, allowing the tourism industry to fulfil its potential in areas that were previously out of bounds.

In spite of its heavy focus on natural resource exports, the country has rebounded from a commodity-induced slowdown in the middle of the decade, with the World Bank forecasting expansion of 3.5% in 2019 – higher than the 2.6% global projection – and 3.6% in 2020. Looking ahead, economic growth will be spurred by strong consumer spending and increased investment in the construction sector as the country continues to roll out its Fourth Generation road infrastructure programme.

Product's Target Market:

  • CEO
  • Academic
  • Investor
  • Financial Analyst
  • Risk Analyst
  • Financial Adviser
  • Business Development Manager
  • Investment banker
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Table of Contents

  • Colombia in brief
  • Fruitful prospects: A new focus on innovation is set to bolster healthy growth levels and consolidate the recovery from years of armed conflict
  • Interview: President Iván Duque Political solutions: The socio-political outlook is more encouraging than it has been in many years, but there is still work to be done
  • Interview: Ángel Gurría, Secretary-General, OECD
  • Interview: Justin Trudeau, Prime Minister of Canada
  • Small steps: Moderate growth is on the horizon amid strain from migrant populations and subdued commodity prices
  • Interview: Alberto Carrasquilla, Minister of Finance and Public Credit
  • Part of the team: Colombia works to achieve policy objectives with the support of recent OECD membership
  • Interview: Flavia Santoro Trujillo, President, ProColombia
  • Interview: Juan José Echavarría Soto, General Manager, Banco de la República
  • Fiscal stimulus: A tax reform package should spur hiring and investment, but may not help to close the public deficit OBG Business Barometer: Colombia CEOSurvey
  • Talent map: Changing global migration patterns bring both challenges and opportunities for the economies of developing nations
  • Steady gains: The banking sector is poised or stable growth on the back of improving macroeconomic activity and regulatory reforms
  • Interview: David Bojanini, CEO, Grupo SURA Fintech revolution: Technological solutions are driving the evolution of the sector landscape
  • On the up: Despite the recent slowdown, a number of developments bode well for increased dynamism and investment opportunities
  • Interview: Juan Pablo Córdoba, President, Colombian Securities Exchange
  • Global growth stage: Creative start-ups and policy reform help to deepen a virtuous cycle of venture capital investment
  • Market analysis & data provided by Bancóldex Ties that bind: Colombia increases its bond offering to promote environmental sustainability and achieve development goals
  • Interview: Javier Díaz Fajardo, President, Bancóldex
  • Indexed growth: Inclusion in global indices often results in a greater flow of funds to capital markets, but it is just one aspect of the economic picture
  • Premium lines: New products and technology are aimed at enhancing insurance penetration among the population
  • Digital disruption: Insurance technology taps the premium growth potential in emerging markets
  • Evolving approach: Momentum builds as oil and gas resources are expanded
  • Interview: María Fernanda Suárez, Minister of Mines and Energy
  • Promising finds: Non-conventional deposits energise activity in the industry
  • Interview: Astrid Álvarez Hernández, CEO, Grupo Energía de Bogotá
  • Bright future: New laws and partnerships offer high potential for renewables
  • Cheaper and greener: As costs decline, renewable sources are seeing an inexorable rise, particularly among developing economies
  • Good prospects: Recent measures to modernise and formalise extractive activities support the industry’s recovery
  • Interview: Kelvin Dushnisky, CEO, AngloGold Ashanti
  • Gold rush: The industry is moving in the right direction with new projects and efforts under way to combat illegal production
  • A hard bargain: The administration has submitted a proposal to Congress to reform community consultations in resource extraction
  • Going places: Private sector activity is being harnessed to provide an integrated system of increasing internet coverage and digital transport infrastructure
  • Interview: Ángela María Orozco Gómez, Minister of Transport
  • Take the high road: Increased transparency and financial diversification help the road programme get back on track
  • A breath of fresh air: Cities are seeking to combat congestion and pollution through digitalisation and green public transport
  • Ticket to ride: A combination of large-scale infrastructure investment and vehicle-sharing platforms are boosting urban mobility
  • Building up: Social housing and urban infrastructure projects drive recovery, with increased private sector involvement
  • Interview: Roberto Moreno, President, Amarilo
  • Over land and sea: China’s implementation of a new trade network is energising the global construction industry
  • Raising the skyline: Policymakers and private developers are steadily laying the groundwork for sustainable growth
  • Foundational shift: Private equity spending is driving change in retail ownership
  • Urban adaptation: Rapid urbanisation and young, growing populations put pressure on emerging markets to solve housing deficits
  • Turning a corner: Production, sales, and exports pick up across the board, while investment in free zones and government programmes continue
  • Interview: José Manuel Restrepo, Minister of Commerce, Industry, and Tourism
  • Smart buys: Discount grocers and e-commerce see considerable growth as consumers increasingly weigh their options
  • Into high gear: Economies around the world are preparing for the opportunities and challenges brought about by the next industrial revolution
  • Space to grow: A number of environmental and social factors bode well for agricultural expansion and value addition
  • Healing herb: Farmers tap into the lucrative medicinal marijuana market thanks to recent legislation
  • Seeking sustainability: Digital and precision farming practices are poised to bolster global agriculture resiliency
11. ICT
  • Signal boost: Public and private sector initiatives have seen positive results in increasing internet coverage and digital transport infrastructure literacy Roundtable: Ignacio Roman Vila, President, Avantel; Fabián Hernández, President, Telefónica Movistar Colombia; and Marcelo Cataldo, President, TigoUNE
  • Bridging the divide: The ever-expanding digital economy is creating widespread opportunities in emerging markets
  • Ready for take-off: The peace dividend and new sector infrastructure are fuelling growth in the number of annual visitor arrivals
  • Interview: Jean Claude Bessudo, President, Aviatur
  • Blueprint for growth: A development plan is created to promote collaboration and formalisation
  • Meeting expectations: Security and engagement key to further growth in the meetings, incentives, conferences and exhibitions industry
  • Room to manoeuvre: The hospitality sector is expanding and evolving to support growing numbers of international travellers
  • Doctor’s orders: A patient-focused approach and universal coverage are set to improve the quality and accessibility of services
  • Investing in health: Advancing medical technology leads to improved patient care and cost savings
  • Change agent: Education reform look to increase participation rates and optimise student outcomes
  • Numbers game: Greater utilisation of data analytics can help drive human capital development
  • Interview: Alejandro Moreno Salamanca, Managing Director, Inalde Business School
  • Digital classroom: Investment in education technology surges as markets around the world recognise its transformative potential
15. TAX
  • EY Colombia
  • Reform drive: A look at tax challenges facing the new government
  • Interview: Jaime Vargas, Tax Managing Partner and International Tax Services Leader, EY Colombia
  • A bed for the night: Selection of hotels in Bogotá and Medellín
  • Listings: Directory of government bodies, foreign embassies, and airports
  • Facts for visitors: Useful things to know before your trip to Colombia

Companies Mentioned

  • AngloGold Ashanti
  • Aviatur
  • Banco de la República
  • Bancóldex
  • Colombian Securities Exchange
  • Grupo Energía de Bogotá
  • Grupo SURA Fintech
  • Grupo SURA Fintech revolution
  • Inalde Business School
  • OECD
  • TigoUNE