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New legislation for medicinal cannabis allows Colombian farmers to access new markets
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In 2017 Colombia, Argentina, Australia, Mexico and Germany joined Chile, Jamaica and Italy in legalising cannabis for medicinal purposes. As one of the world’s newest and fastest-growing industries, the legal medical marijuana market could to reach $146bn by 2025, according to a report by business consulting firm Grand View Research. Colombia has passed legislation at a time when many countries…

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Agri-business opportunities in Colombia continue to grow
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With vast natural resources, a diverse climate and varied topography, agri-business opportunities abound as Colombia’s role as a global food supplier continues to grow. According to the UN Food and Agriculture Organisation (FAO), Colombia receives the most rainfall of any Latin American country and ranks 10th globally for precipitation. Its varied elevations also provide for growing a number…

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New ICT laws and attention to innovation increase Colombia's internet coverage
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With high demand for telecommunications services, an emphasis on innovation in commerce and industry, and the passing of a new ICT law in June 2019, Colombia’s ICT sector is poised to regain momentum in the coming years. According to international analyst BMI Research, the market value of the country’s ICT sector was $6.29bn in 2018, with this predicted to increase by 6.8% in 2020. Structure…

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Growing digital economy creates opportunities in Colombia and emerging markets
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More and more commercial transactions are moving online and the so-called digital economy continues to expand its reach into every facet of the traditional analogue economy. For businesses, this means they have access to new channels to reach existing clients as well as new opportunities to expand market share with a competitive digital offering. For consumers, the ever-expanding digital economy…

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Security and engagement growth in the meetings, incentives, conferences and exhibitions industry
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Countries and regions across the world have long understood the potential of the MICE segment as a vehicle to drive high-value tourism and economic development. In recent decades this has led to significant investment, with nations working to position themselves as centres for the industry, both regionally and globally, aided by greater air connectivity. At the same time, the industry has…

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Colombia's new tourism infrastructure and sustained peace fuel growth in tourist numbers
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Over the past decade and a half the long-kept secret of Colombia’s cultural heritage and natural beauty has spread throughout the international tourism circuit. The country’s potential as a regional tourism hotspot has been recognised by organisations and publications worldwide, with business-focused media outlet Forbes listing Colombia as one of the 10 “coolest places” to visit in…

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Hospitality sector in Colombia and other emerging markets expand to support growing numbers of international travellers
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Aided by easier and cheaper travel, global tourism has experienced two decades of almost uninterrupted growth. According to the World Bank, the number of international departures more than doubled between 1997 and 2017, from 687m to 1.57bn per annum. With the global middle class estimated by the US-based think tank Brookings Institution to be expanding by as many as 160m people per year until…

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Advancing medical technology leads to improved patient care and cost savings
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Rising health care costs, ageing populations and changing lifestyles in emerging economies are stoking demand for medical technology (medtech) solutions. These entail not only smart devices that remotely monitor and transmit biometric data, but any instance of technology that assists in the delivery of health services. While these initiatives are under way around the world, there are significant…

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Universal coverage and increased accountability improve access to Colombia's health services
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In recent decades Colombia’s health sector has gone through substantial changes and improvements, shifting from being underdeveloped to one of the highest ranked in the region. In a October 2018 review of 191 of the world’s health care systems, the World Health Organisation (WHO) ranked Colombia 22nd, ahead of Canada and the US. However, the system is under significant financial strain,…

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Colombia's education reform reinforces school standards and participation rates
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With the second-largest population in South America after Brazil, Colombia’s responsibility to educate its population is of regional significance. In a bid to maintain competitiveness in the global economy, as well as close the sizeable access and attainment gap between rural and urban areas, the government has set ambitious targets and increased funding. Since the 2016 peace deal between…