TAG: The Americas
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.
The mining sector is emerging from what has been arguably its most challenging period in the 21st century. The commodity supercycle boom at the start of the century generated high expectations for the mining sector as emerging markets grew rapidly, led by the BRICs. With the price of most base metals peaking in 2012, the subsequent downturn cast shadows over the sector worldwide and disproportionally affected commodity-producing countries, many of them in South America.