Colombia

A handful of international awards and recognition have placed Colombia’s health system on the global radar as the sector seeks to conform to international standards. A recent reform to the universal health care system in 2012 improved coverage and made access to services more affordable, boosting the potential for the pharmaceuticals industry and allowing Colombia to build its presence has a...

Sport has not only become a vehicle for social inclusion in Colombia, but also a budding industry contributing to economic development. While public sector investment has been promising, the private sector has been more reticent, and has mainly focused on sponsoring big-name teams and athletes. This is likely to change now that the basis of professional sports development, aside from football,...

An improved perception of security has boded well for Colombia’s tourism sector. Identified as a strategic growth area in the National Development Plan, the sector has grown consistently in the past few years, earning $21.2bn in 2012 and accounting for 5.3% of GDP, a figure expected to reach 5.4% in 2013, making the sector the third-most-important source of foreign currency behind oil and coal....

Identified as one of five sectors with strategic importance for its ability to bring about growth in other sectors, the research and innovation sector is set to undergo development in the near future as the 2012 tax reform will see 10% of all revenues from the extractive industries go towards funding innovative projects promoted by regional governments. The contribution of innovation to the...

The ICT sector is undergoing considerable development as the government implements its Vive Digital Plan, a strategy that targets the overall improvement of telecommunications connectivity and is expected to facilitate $12.5bn worth of investments into the sector between 2011 and 2014. The telecoms sector saw the mobile penetration rate surpass 100% in 2012 and its first major auction of 4G...

Selected as one of five strategic growth areas in the National Development Plan, the agricultural sector has traditionally been one of the primary growth engines in Colombia. However, recent supply and demand fluctuations have created challenging times for the sector and government funding has become central for ensuring its short-term viability. This is likely to improve as completion of...