Latin America has a population of more than 600m people and a combined GDP of over $5trn, and both have grown significantly since the turn of the century. Nonetheless, the region has been hit hard by the ebbing of the commodity super cycle in recent years, as well as still relatively sluggish global growth in the wake of the 2008-09 financial crisis. The region has been in outright recession…
In recent years Latin American nations have enthusiastically embraced renewable energy sources, and a total of $16.5bn has been invested in the segment across the continent. In November 2016 Chile inaugurated the $343m, 196-MW El Romero solar power plant, which provides enough power to fuel a city of 1m people; while Costa Rica ran on entirely clean energy for seven months in 2016. Yet while…
In November 2016 Colombia received its first import of liquefied natural gas (LNG) at the Sociedad Portuaria El Cayao (SPEC) terminal in Cartagena. The cargo, sourced from Trinidad and Tobago’s Atlantic LNG facility, was delivered by a floating storage regasification unit (FSRU) owned by Norwegian firm Höegh Grace. A year after a serious energy shortage due to weak hydroelectric production,…
After delays and several false starts, the Colombian gold mining segment gained momentum in 2016 with the awarding of environmental permits for four gold mines. This follows the March 2015 permit given to Canada-based Red Eagle Mining, which, little more than a year later, became the first medium-sized gold mine to enter into production in Colombia for 50 years. When these four projects enter…
Recent hydrocarbons discoveries have resulted in a renewed push for exploration in the Colombian Caribbean Region, as government and energy sector stakeholders set their eyes on a series of largely unexplored onshore and offshore blocks. Barranquilla, the capital of the Atlántico department, is well placed to serve as an energy hub for a prospective offshore industry. The city has a variety…
Colombia’s ambitious fourth generation (4G) road programme is a key part of the government’s transport infrastructure development strategy. The programme aims to build 45 new highway links and upgrade and renovate existing stretches of roads across the country for a total investment of $24bn. Most of the concessions are public-initiative, public-private partnership (PPP) agreements, although…
With economic growth reducing poverty and increasing the size of Colombia’s middle class, government programmes are having a major impact in lowering the country’s housing deficit. Programmes to allocate free homes to the lowest-income segments, reduce the costs of acquisition and ease access to banking credit for other segments of the population have absorbed a considerable amount of state resources.…
With the agriculture sector seeking ways to boost production and increase output, many eyes are on Colombia’s fruit sector, which has the potential to deliver big returns to the industry. In Latin American, Colombia is the country with the third-largest area of planted land for only fruits and vegetables at 921,000 ha, after Brazil and Mexico. However, in terms of production volume it ranks…
With rising numbers of internet users and improved access to telecoms services across the country, Colombian consumers are turning to e-commerce as an easy option for shopping. So far, online transactions have focused on a select group of products. However, expansion of e-commerce activities promises to expand online shopping into a growing number of products and services as a rising number…
Economic stability and enhanced security have drawn interest from hotel groups looking to capitalise on increased business and investment activity in Colombia. However, recent falls in oil export revenues have reduced fiscal incentives to expand tourist infrastructure, and the hospitality industry is hoping that the rising number of tourists will support ongoing expansion. Room For Growth The…
