Colombia Population 50.88 million
Economic and Political Outlook Latin America's fourth-largest economy has recovered well from the COVID-19 crisis. According to data compiled by the central bank gross domestic product expanded 10.6 per cent in 2021. However inflation in April was 1.25 per cent on a monthly basis and 9.23 per cent on an annual basis, making it the highest in the last twenty years. In addition around 40 per cent of the population live below the poverty line and violence is escalating.
Left-wing candidate Gustavo Petro, a former guerrilla fighter and mayor of Bogota, won the election in June and proposes a major change to the economy to address growing inequality. He proposes free higher education and a universal public health-care system while raising taxes on the wealthiest Colombians.
Online Regulatory Update Colombia put in place regulations for online-based gaming in 2016. Te gaming board (Coljuegos) has gradually begun to liberalise the market and has increased the number of products on offer in the territory including Pari-mutuel sports betting which went live for the first time in 2014.
Today online sports betting accounts for around 8 per cent of the market with foreign operators making up almost the entire online gambling sector. Investors have been encouraged by a clear set of rules when it comes to entering the Colombian market, and reasonable tax rate. Tere are now 18 licensed sports betting sites in Colombia and around 3.8 million active player online accounts.
Land-based Regulatory Update In Colombia illegal gaming accounts for an estimated 20 per cent of the industry and there are at least 70,00 illegal slot machines located throughout the country. Te number of casinos and slot parlours has remained stable as Coljuegos has not issued many new land based licences. According to local press, operators blame this situation on high taxes as well as illegal gaming which is still widespread.
In April 2020 the Colombian Congress approved the National Development Plan. As part of this plan the change in gaming rules will do away with the presumptive income scheme rate which means that operators currently have to pay tax even if the machines do not generate sales. Te changes to the National Development Plan implies that from now on operators will pay exclusively for operating rights of 12 per cent on gross revenues as long as they meet the minimum connectivity and industry standards which Coljuegos set out.
P84 WIRE / PULSE / INSIGHT / REPORTS
COLOMBIA
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142 |
Page 143 |
Page 144 |
Page 145 |
Page 146 |
Page 147 |
Page 148 |
Page 149 |
Page 150 |
Page 151 |
Page 152 |
Page 153 |
Page 154
