In the last 50 years, Colombia has grown faster than any other country in Latin America and it already had important economic growth before the pandemic.

International organizations and private analysts believe that Colombia will still experience economic growth, even with COVID-19. The local government has thoughtfully provided active support to the business sector and households, as well as giving incentives to citizens in order to boost the economy.

Therefore, Colombia is predicted to lead the economic recovery in 2021, as the World Bank estimates that it would contract by 7.2% in 2020 and grow by 4.9% in 2021.
It is important to mention that evidence of recovery was already present in the third quarter of 2020. There was growth in the economy, of 8.7% from the second quarter of the same year and this growth was seen in all economic activities.

This dynamic economy will enable Colombia to naturally attract more innovative companies by effective means of its relocation strategy, thereby recovering from the current economic crisis.

With this in mind, ProColombia made a brief review of the economic outlook for 2021 with different sectors and possible investment opportunities to continue supporting the country’s recovery.

Click here to check out the economic outlook for 2021.