NEW YORK CITY, NY / ACCESSWIRE / December 30, 2024 / Invest in Bogotá closed 2024 with a positive management balance. The agency, a public-private initiative by the Bogotá Chamber of Commerce and the Mayor's Office, certified 47 projects (28 new investments and 19 reinvestments), generating approximately USD 286 million and creating over 8500 jobs.

"Bogotá has become a business epicenter, not only in the country but in the region. Today, Bogotá has eight million inhabitants as a domestic market, and when considering its surroundings, we reach 11 million. Additionally, we offer an efficient and qualified workforce of six million people, representing 71% of the country's bilingual talent. This makes us a hub of knowledge and innovation," said Isabella Muñoz, CEO of Invest in Bogotá.

The strategic sectors attracting most investments include shared service centers, digital health transformation, food security and circular economy, energy and data centers, accelerators, and venture capital funds.

"We remain a service-oriented city, with software, technology, corporate services, transport, and logistics representing over 49% of these investment projects. However, while the number of projects decreased compared to 2023, investment amounts and job creation grew significantly," added Muñoz.

Regarding source markets, the United States continued to lead with 19 projects, followed by Mexico and Spain with seven each. Non-traditional markets entering the Bogotá region this year included Luxembourg with two projects, and Romania, Bolivia, and Trinidad and Tobago with one each.

Some of this year's most notable certifications were ERG International Group, a strategic partner for the construction of the El Campín Sports and Cultural Complex; Steward Healthcare International, a global leader in healthcare; Lanik, specializing in the design, manufacturing, and assembly of structures; and Calucé, a leader in assisted living for seniors with over 45 years of experience.

MICE Events

The Bogotá Convention Bureau, a business unit of Invest in Bogotá, also closed the year with significant figures: 36 events secured, accounting for over 90,000 hotel nights and more than 40,000 attendees; and another 42 supported events, representing over 45,000 hotel nights and more than 80,000 attendees.

_{Nighttime Panoramic View of Bogotá.}

"Bogotá has a solid infrastructure and a team of skilled professionals adept at organizing bids for world-class events. This effort is supported by collaboration with the Bogotá Chamber of Commerce, the tourism cluster, and the District Secretariat of Economic Development, reflected in these numbers," said Luis Alejandro Dávila, Manager of the Convention Bureau.

The managed events generated an economic impact of nearly USD 53 million. Supported events accounted for over USD 15 million, while captured events brought in more than USD 37 million.

Notable events included the Global Stroke Alliance 2024 & XXVI Ibero-American Congress on Cerebrovascular Disease, which generated approximately USD 683,760 and welcomed over 1,000 attendees; Kamay Code, which brought in around USD 244,200 with over 500 attendees; and the highlight of the year, Colombia Tech Week, generating approximately USD 1.6 million with nearly 10,000 attendees.

These events are part of the MICE sector (Meetings, Incentives, Conferences, and Exhibitions), positioning Bogotá as 3rd in Latin America, according to the ICCA (International Congress and Convention Association) ranking, and as the leading city in Colombia.

2024 Strategy

The Strategy Management team mobilized over 700 million pesos from a BID loan to improve processes impacting foreign companies' operations across three district entities: Cadastre, the Secretariat of Habitat, and the Fire Department.

Additionally, the Single Investment Window (VUI) was implemented to manage procedures in Bogotá and five municipalities in Cundinamarca. This makes the region the only one to offer this level of information on the platform managed by the Ministry of Commerce, Industry, and Tourism. A proposal for tax and non-tax incentives was also presented to the Tax Experts Commission, consolidating Invest in Bogotá's role as a key actor in shaping public policies for the city's economic development.

Other achievements included 13 legal bulletins with relevant information for investors and decision-makers and eight reports analyzing investment dynamics in Bogotá and capital raising by city-based startups.

_{Invest in Bogotá Work Team 2024.}

About Invest in Bogotá

Invest in Bogotá is the city's leading agency for investment promotion, international event attraction, and fostering a thriving high-impact entrepreneurship ecosystem. It's a public-private initiative supported by the Bogotá Chamber of Commerce and the Capital District.

The agency's mission is to drive socio-economic development, boost competitiveness, and enhance the quality of life in Bogotá and its surrounding region by positioning the city as Latin America's premier business destination.

For six consecutive years, Invest in Bogotá has been recognized as one of the best entities in its field globally and one of the top four in South America, Central America, and the Caribbean. This distinction comes from the Global Best to Invest Report published annually by Site Selection International.

Press Contact

Luis Alejandro Tibaduisa
Head of Press and PR
(+57) 317 780 6158
ltibaduisa@investinbogota.org

SOURCE: Invest in Bogota