FDI Report B
ogotá, originally called "Bacatá" (planted fields) by the native Muisca people, is an original, trendy and relatively unexplored
destination that is emerging as an increasingly important business hub. The Colombian capital has become one of the most important cities in South America, with a creative and innovative spirit that has seen it become the financial cen- tre of the Andean region. Its venues for business, events and conventions confirm it as a favourite destination for executives worldwide. Its public spaces include plazas, numerous parks and modern avenues. It has a permanent cultural agenda that is reflected in its more than 60 mu- seums and art galleries. In 2011, Fortune magazine ranked Bogotá
as one of the top 15 new business cities in the world. The presence of multinational companies such as Citibank and McDonalds as well as the availability of a skilled workforce, solid infra- structure and potential customers, has led to Bo- gotá's new status. This comes in marked contrast to a 2009 survey carried out by The Economist, which then declared Bogotá the worst city to live in in South America, citing the constant threats of violent crimes and domestic strikes. Bogotá has a population of 7.4 million peo- ple, making it the sixth largest city in Latin America. It has a GDP of US$70.3 billion, more than countries such as Ecuador, Uruguay, Costa Rica and Panama. It has received foreign direct investment in excess of US$24 billion over the past ten years. The economic stability that
Bogotá has shown in recent times is now being recognised by entrepreneurs and investors. Credit-rating agencies Standard and Poor’s, Fitch and Moody’s rate Bogotá as a dependable desti- nation where investments are not speculative. Bogotá is strategically located in the centre
of the Americas. It is five hours by plane from New York, Mexico City and Sao Paulo and has excellent air connectivity, with several daily non-stop flights to all major cities in the Amer- icas. Due to its location and transport connec- tions, many companies have chosen Bogotá for their regional headquarters, shared service cen- tres and logistical hubs to serve Latin America. There is high availability of skilled human resources in the city. There are four million workers, 861,000 higher-education students and
BLOOMING BOGOTÁ BUSINESS IS By: James Brown
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