Colombia

Since the drop in commodity prices in 2014, Colombia’s economy has been recovering and is set to expand in 2019 and 2020. In May 2018 Colombia was invited to become the 37th member of the OECD, a positive development that should increase the country’s international political and economic prominence in the coming decades. However, challenges to ensuring Colombia’s continued economic progress remain.

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Covid-19 has had a significant impact on the Latin American residential real estate market, with the economic slowdown and increased investor uncertainty serving to dampen growth in the short term. Nevertheless, the pandemic has stimulated demand for both rental properties and accommodation with outdoor space, while also accelerating the digitalisation of the industry and boosting competition among mortgage lenders.

‘Nearshoring’ – whereby companies shift their offshore production capacities closer to home – is experiencing significant growth in Latin America amid the coronavirus pandemic.

Colombia has taken a step towards improving the efficiency of its multi-modal logistics network with a new policy designed to increase the flows of goods internally while also facilitating export growth.

While 2019 was a rather mixed year for Colombia’s economy, the country closed the year on a positive note, with 3.4% GDP growth.

En un contexto de crecimiento económico positivo, el gasto de los hogares en Colombia ha evolucionado favorablemente en 2019 gracias a unas bases macroeconómicas sólidas y a factores demográficos.

Colombia busca expandir y diversificar sus lazos comerciales con China a través de una serie de nuevas alianzas, confirmadas por el presidente Iván Duque durante su reciente visita de Estado a esa nación.

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