TAG: Colombia
Though there is broad agreement that Colombia faces many structural challenges, the overall outlook for the economy is positive. Of the C-suite executives interviewed in the OBG Business Barometer: Colombia CEO Survey, 91% indicate that they feel positive or very positive about local business conditions in the coming 12 months. Underpinning this positive sentiment is Colombia’s rise in prominence on the global platform amid the ongoing crisis in Venezuela. However, CEOs note that infrastructure will remain a priority for the country’s development, with the majority (51%) stating road infrastructure as the most crucial.
CEOs in Colombia remain largely positive about the economy, in part given the country’s rising prominence in global political affairs amid the ongoing crisis in Venezuela. However, they are also in broad agreement regarding the numerous structural challenges the country faces in the short to medium term.
Defined by the UN as “the interface between economy, culture, technology and social aspects”, the term “creative economy” can seem rather abstract at first appearance. However, it is globally one of the most dynamic industries, more than doubling its value between 2002 and 2015 to reach $509bn, according to the UN Conference on Trade and Development. For a country bidding to diversify, ease dependency on commodities, innovate and add value to its economy, it seemed like a natural niche for Colombia.