April 18th, 2012
09:12 AM GMT
Share this on:

Editor’s note: The Millennials are a generation that are constantly plugged in and moving fast to make their mark on the world. CNN’s Quest Means Business is tracking four of them. In this episode, Joe Braidwood and his company, Swift Key, head to Barcelona for the 2012 Global Mobile Awards 2012 while David Lloyd, CNN contributor, writes on the attraction of Colombia from the Summit of the Americas.  Follow The Millennials to find out how Lloyd's company, Intern Latin America, was recognized at the summit.

(CNN) – Buying real estate in Colombia is not the sort of thing that your local bank branch manager is likely to recommend. But to me it is a sensible, even prudent, macro-bet on a country which is the next star of Latin America.

Colombia now takes its place alongside an Asian tiger like Indonesia and the future giant of South Africa in the CIVETS group of rapidly growing emerging markets. It is the new darling of “smart money” which views it as the hidden gem of Latin America. Although it continues to suffer from out-of-date negative perceptions, its attractiveness is coming onto both the tourist and investor’s radars.

The negative perceptions that persist present opportunities. In Colombia’s modern and industrious second city, Medellin (where Hewlett Packard has just located its entire Latin American Headquarters), prime property is found for under $750 per square meter, with rental yields in excess of 10% commonplace. There are very few places in the world with statistics like this that share Colombia’s potential. I have just made a macro-bet on Colombia via a real estate purchase.

Colombia’s traditional Achilles heel, security, has improved significantly in recent years. Popular ex-President Álvaro Uribe, (who left office with 80%+ popularity ratings), backed up by significant quantities of U.S. aid, took a hardline approach and routed the FARC guerrillas to make Colombia's cities safe again. FARC are at their weakest in decades, although considerable problems remain in some rural areas.

Colombian guerrillas killed

Proexport, the National Colombian Tourist Board, decided the country was ready to challenge the security perceptions head-on and launched a successful campaign in 2008 based around the slogan, “Colombia: el riesgo es que te quieras quedar”(Colombia: the risk is wanting to stay). Its stunning, tropical landscapes are finally starting to receive the attention they deserve: A tourist boom is under way with double digit percentage growth.

Economically, Colombia is flying ahead with annual growth of 6%. Rich in natural resources, especially oil, coal and gold, Colombia pursues the same framework of the free-trade export-led model that has elevated Chile into being the first South American country awarded membership of the "rich nation’s club" - the Organization for Economic Cooperation and Development (OECD). Chile has come far with that model and Colombia can go even further. It has the advantage of mass: Its population is the second largest in South America. Crucially, its economy is considered one of the most diversified in the continent - a key asset in a region where under-diversification is too common.

Its strengths are not going unnoticed. JPMorgan sees Colombia’s investment potential as second only to Brazil in the whole of Latin America. Foreign investors are pouring dollars in. Foreign direct investing to Colombia grew 113% between 2010 and 2011 according to official United Nations figures, injecting a record $14.4 billion into the country in 2011.

Colombia proudly follows an ambitious free trade agenda, following in the footsteps of Chile which has signed agreements resulting in free trade with more than 90% of the world’s population. Colombia is unashamedly pro-business, pro-trade and outward looking. “The message we send to our producers is you are in the world, not just Colombia. The future is about being competitive and this is as painful as giving birth”, Finance Minister Juan Carlos Echeverry said in March. A free trade agreement has just been struck with the European Union and a long awaited free trade agreement with the United States was finalized at last weekend's Summit of the Americas.

I attended the Summit of the Americas with my company Intern Latin America . It's a great time to be in Colombia - get in before it becomes mainstream.

Posted by: ,
Filed under: BusinessThe Millennials

soundoff (7 Responses)
  1. Nicolai Eslava

    Colombia is in the Gold Hour. The market, the scenario is just perfect for growing businesses. We help international companies to establish business in Colombia and we are having 15 requirements per week to find a space in this glorious time for Colombia. David, thanks for your investments and for that sincerely believe in our country.

    April 22, 2012 at 4:18 pm |
  2. USA Smart Source

    It's appropriate time to make some plans for the longer term and it's time to be happy. I have read this publish and if I may just I desire to counsel you few attention-grabbing things or advice. Maybe you can write subsequent articles regarding this article. I want to read even more issues approximately it!

    May 17, 2012 at 1:44 am |
  3. Bogdan

    The average is 3% for most cderit cards ..Plus they charge you much higher interest rates if you don't pay off your balance in full .usually in the 24-30% range for cash advances

    May 17, 2012 at 6:54 am |
  4. Janice Walker

    We can help give fresh secure water for all!

    Innovative Rain Water Harvesting for SECURE fresh water, increased agriculture by at least 50% = Jobs! Flexible, easy install, transport and design means local jobs. Capture and contain all rain for dry periods. Drip irrigation with fertigation and organics. Soil saturation is key. Ground excepts more water so less run off, wasted water and standing water. So our systems can help slow water borne illness and health for people every where.

    Aquaponics and fish hatcheries will increase food supplies.

    Needing support to expand and make a responsible ands sustainable difference.

    Unfortunately corruption has stopped many of our contracts because of the sheer numbers being spent on Innovative Water Solutions, Sanitation and Agriculture. Being crushed by enormous foundation and power brokers, has slowed life's work.

    Your support needed to make a impact now on world hunger and water crisis.

    Empowering the most rural communities with basic human rights in water and food. Self sustaining and responsible.

    USA, woman and Vet owned and operated. Able to be 1 of 3 manufactures in World. Bring Jobs to returning Vets like our frontline Marine!

    Made from recycled plastic helps landfill issues and is full cycle project. Working in USA and Haiti.

    So let see, jobs in Recycling, manufacturing, transporting, exporting, installing, education, training, SECURE water and all it brings, increased agriculture and it's full cycle, back to aiding in World hunger , health issues and secure water.

    It's a common sense approach that is proven.

    Can we work together for the greater good?

    Rain Catchers
    Janice Walker, Owner
    Rick Walker, Project Developer and Coordinator

    June 3, 2012 at 1:48 pm |
  5. icons pack

    I know one more decision

    October 9, 2012 at 5:52 am |
  6. Wegreekew

    But I'd adore to ?- I would do this in two seconds.The Spurs led for all but the opening 6 minutes [url=http://www.shopofficialpackers.com/jordy-nelson-jersey.html]Jordy Nelson Jersey Cyber Monday[/url] of the game. From a variety of wonderful alternatives to select from, business proprietors are guaranteed that they will acquire [url=http://www.shopofficialpackers.com/clay-matthews-jersey.html]Cyber Monday Clay Matthews Jersey[/url] superb use for these electrical boards. 14 (Xinhua) - Russia overpowered Germany 3-1 in a [url=http://www.shopofficialpackers.com/]Packers Jersey Black Friday[/url] thrilling affair in outsold Max-Schmelling-Halle at the CAV Women's Volleyball European Championship final here on Saturday.Nonetheless, when you were to have a look at the massive picture you'll be laborious pressed to say which club has been the best one ever. Watch The Vampire Diaries Season 3 Episode 9: Homecoming Online – Apprehensiveness overpowered the inner thoughts of everybody within the Mystic Falls.The stage of having an arrangement amongst the proprietors of hooked up dwellings is to make confident that all events fully grasp and agree to their obligations about the obligations connected with shared or adjoining walls. Its strategy also included to avoid betting all their money in as soon as a game.Strain the pudding by way of a fine mesh strainer for a sleek pudding. I train extremely hard to keep my body in shape and that's what the article and the magazine is all about.I've bought this system recently and let me show you what I've found out about this 108 page book.You can see even some randomly displayed desktop wallpapers which might be free timed ones by which some surroundings let numerous wall papers to be utilized as properly as rotated with a view to exhibit varied themes and wallpapers at specific occasions. It is possible to immediate your search to a specific item you're searching for, or leave it open to lookup the huge number of memorabilia on the internet.

    November 28, 2013 at 4:37 am |
  7. Quincy

    Thanks for a marvelous posting! I quite enjoyed reading it, you could be a great author. I will always bookmark your blog and will come back later on. I want to encourage you to definitely continue your great posts, have a nice morning!

    April 13, 2014 at 6:03 pm |

Post a comment


CNN welcomes a lively and courteous discussion as long as you follow the Rules of Conduct set forth in our Terms of Service. Comments are not pre-screened before they post. You agree that anything you post may be used, along with your name and profile picture, in accordance with our Privacy Policy and the license you have granted pursuant to our Terms of Service.

About Business 360

CNN International's business anchors and correspondents get to grips with the issues affecting world business, and they want your questions and feedback.

Powered by WordPress.com VIP