Because of its location, workforce, market access, costs, business climate, operating environment, quality of life, and many more reasons, Bogota is the best place for your business.
Companies located in Bogota have direct access to the US$282 billion Colombian market - one of the largest and most dynamic markets in Latin America.
Thanks to the different Free Trade Agreements (FTAs) in operation, companies based in Bogota have access to an extended market of US$43 trillion and 1,570 million inhabitants.
Bogota is strategically located in the center of the Americas —five hours by plane from New York, Mexico City, and Sao Paulo — and has excellent air connectivity, with several dailies non-stop flights to all major cities in the Americas.
Thanks to its location and air connections, many companies have chosen Bogota for their regional headquarters, shared service centers, and logistics hubs to serve Latin America.
A young, skilled, 4.6 million strong workforce in Bogota ensures the scalability of any operation. The city’s 109 institutions of higher education enroll over 759,000 students and graduate over 141 thousand professionals and technicians per year. In addition, Colombia has one of the most flexible labor regimes in Latin America.
According to the Global Competitiveness Report 2017 - 2018’s World Economic Forum report, Colombia’s Labor Market is one of the most efficient in Latin America.
Bogota is one of the most competitive cities in Latin America, with an excellent business climate.
Bogota is ranked as one of Latin America’s leading business centers – along with Miami, Santiago, Mexico City and Sao Paulo. According to the latest annual América Economía ranking in 2016, Bogota is the fifth best city to do business in Latin America.
In the past 10 years, Bogota has received US$18,369 million in foreign direct investment, mainly in financial services (14%) and communication sectors (14%).
Between 2006 and 2016 United States, Spain, France, UK, and Chile were the principal source markets of the foreign direct investment in Bogota.
As one of the major business cities in Latin America, Bogota has great opportunities to invest. Today, there are more than 1,500 Multinational Corporations (MNCs) in the city.
Bogota has a high-quality, worry-free operating environment. There is a plentiful supply of quality, cost-competitive office, warehousing and manufacturing space. The city has redundant telecom connectivity and excellent utilities. The city is a major land and air cargo transportation center and a natural logistics hub for Colombia. Finally, Bogota has all the corporate services needed by investors.
At present, Bogota has a supply of approximately 1’800,000 square meters (19.3 million square feet) of office space, including top quality high-end offices. There are more than 50 industrial parks, including several new free trade zones with excellent warehousing and manufacturing spaces.
According to the World Competitiveness Yearbook, Colombia is one of the top ten countries in the world with the highest levels of investment in telecommunications, as a percentage of GDP, and the top country in Latin America. As a result of market liberalization and significant private sector investment, Bogota boasts a redundant, high-quality telecommunications infrastructure. Currently, more than half-a-dozen private providers offer complete corporate telecommunication solutions.
Electric utility coverage is nearly 100% in Bogota. CODENSA, Bogota’s electric utility, is part of the ENEL Group of Italy and is recognized for high-quality and cost-competitive service. Gas Natural, a privately-owned utility, provides natural gas. The city-owned Acueducto de Bogota manages water and sewerage, which has 99% coverage for water and 98% for sewerage.
Bogota is a natural hub for land-based freight in Colombia. Many companies have located logistics and distribution facilities in Bogota to serve Colombia. The government is currently developing four-lane highways from Bogota to both Atlantic and Pacific seaports.
Bogota offers a wide range of corporate service providers, from international, legal, accounting, tax and consulting services, to sophisticated financial intermediaries and specialized suppliers.
Bogota has an ideal climate; average temperature is 19ºC (66 ºF). At night, temperature falls to 10ºC (50 ºF). If it weren’t for the occasional rain, it would be perfect!
The city has more than 5,000 public parks, including the Simon Bolivar Park measuring 113 acres.
Bogota is home to the world-renowned Gold Museum. But that is just one of some 77 museums on offer, which regularly showcase international exhibits such as Goya, Andy Warhol, and the Xian Terracotta Warriors. The city has 70 theaters and over 120 museums, galleries, unconventional spaces and art institutions; additionally, 80 libraries of the Network of Public Libraries.
Bogota hosts several major cultural events, including the Ibero-American Theater Festival, one of the largest independent theater festivals in the world. In 2016, the festival welcomed 90 Colombian and 44 international troupes and over two million spectators.
Bogota has 392 kilometers (243.5 miles) of bike paths, the most extensive network in Latin America.
As part of reforms to make business conditions more attractive, Colombia and Bogota offer attractive incentives for investment, including:
Companies that locate in FTZs have the following benefits:
Subject to specific investment and employment targets, investors can set up FTZs on their premises, anywhere in the country.
The Colombian tax code has several additional deductions from corporate income tax, including:
Goods and services produced in Bogota for export are exempt from the local Industry and Commerce Tax (1.14% of gross sales) and aggregated value tax (19% of gross sales). Surrounding municipalities offer this tax exemption solely on the basis of job creation and/or investment.