- Tourism
- Foreign Investment
- Export Promotion
Investment Opportunities in Medellín - Antioquia
Antioquia - Medellin: Colombia’s industrial capital
- Average weather: 24°C
- Population in Antioquia 2011: 6,143,809 inhabitants
- Population in Medellin 2011: 2,368,282 inhabitants
- Antioquia GDP 2010: US$ 40,885.5 million
- Antioquia GDP per capita 2010: US$ 6,740.10
- Antioquia Surface Area: 63,612km2
- Medellin Surface Area: 387 km2
Medellin is the second most important city in Colombia, following Bogota. Its exceptional architecture, creatively designed leisure areas, and constant development have transformed it in a short period of time into a metropolis with great potential for growth.
Today, Medellin has become an advanced epicenter for commerce, industry, and technology. While 20% of the country’s most important companies have headquarters in this city, each month entrepreneurs from all over the world arrive to see what the region has to offer.
Service outsourcing, software and IT services, cosmetics and hygiene products, and hotel and tourism infrastructure all have an important presence in this city.
Medellin’s urban metro transportation system is quite modern, and the city has two airports: the Jose Maria Cordova International Airport in the neighboring Rionegro municipality, and the Olaya Herrera Airport for regional and domestic flights.
Reasons To Invest
- A dynamic and growing economy: Medellín, with a PIB of USD $ 17,069 million in 2010 represented 8% of PIB in Colombia. Additionally, the department of Antioquia accounted for 31.1% of non-traditional exports from Colombia in 2010. Of that total, 45% is services.
- One of the best cities to make business in Latin America: This is indicated by the ranking of the magazine América Economía. The city promoted 23 positions in the last eight years, located in the position 15 in 2010.
- High quality of life: Factors as good quality public services, education, social and economic environment, make the city with the highest quality of life of the country, according to the National Competitiveness Report 2009-2010.
- Medellin, a city with competitive costs: According to the ranking "Cost of Living" American Journal of Economics in 2009, the cost of life of Medellin is lower than other cities as City of Panama, Buenos Aires and Santiago.
- City in which the world believes: Today the words that define Medellin are transformation, optimism, modernity, conviviality, education and culture.
Outsourcing of Services BPO:
- Opportunities for the creation of Shared Services Centers for Latam and Outsourcing Companies that provide services Costumer Care, ESO, FAO, HRO, Telemedicine and Research and Development (Medellin).
Software and TI Services:
- Opportunities for development and integration of Ti Services and Applications for M & A, Software Factories and assembly of data centers.
- Cluster of Information Technologies and Communications that allows software development for microelectronics, nanotechnology, biotechnology, agro-technology and mobile applications.
- Human Resources: In 2009, Medellin registered 13.466 graduates in programs of pregrade related to the sectors BPO and technology, as Systems engineering, Electronic Engineering, Telecommunications, Modern Languages between others.
- Sectoral Experience: in 2009 there were 31,000 people in the city with experienced in the financial sector and 134,000 people with experience in corporate services.
- Cost of workforce: Operating costs for a full-time employee are $ 12.4 in English and $ 8.5 in Spanish per hour.
- Telecommunications:
- It offers services of connectivity IP across networks of television for cable, of telephony, of optical and wireless fiber. The latter mobile and fixed across the points wimax.
- Medellin was outlined in the qualification of penetration of broad band opposite to other cities of the region occupying the sixth place in the study of América Economía of the ranking 2009.
- Investigation, development and innovation: Important initiatives and institutions that support the development of the Investigation the Knowledge and the Technology: the el Centro de Ciencia y Tecnología de Antioquia CTA, Corporación Tecnnova-UEE, the parque del emprendimiento and the Instituto del emprendimiento Cisco, between others.
- More than 20 companies inside the sector of Tics and more than 6 important companies in BPO's sector.
- The principal local players of BPO's sector in Medellin, brought sales in 2009 for COP$390.354 (approximately US$182 million), showing an average growth with regard to the previous year of 22 %.
Cosmetics and Toiletries:
Opportunities in manufacturing, research and development and distribution centers.
- 13% of the largest packaging companies that supply the cosmetics industry are in Medellín (65 companies).
- Research and Development - Centers I & D as support to the industry:
- Centro de Secuenciación Genómica (Colciencias y Univ. Antioquia) – Biontropic.
- Red de Universidades y Centros generando I&D
- The Human Capital: qualified Workforce - 8.850 graduates between 2001 and 2009 of related careers to the industry as: agronomy, agronomic, cattle engineering, chemical engineering, between others.
- Easy access to the domestic market for its central location.
- Fashion Theme Tradition in Colombia.
Tourism Infrastructure:
- Beautiful museums and plenty of parks and public spaces such as the Jardín Botánico and the Parque de los Píes Descalzos.
- Medellin has 29 squares and parks, 19 museums, 11 libraries, 25 theaters, seven religious monuments, 18 architectural Heritage sites and 31 shopping centers.
- Excellent dining and nightlife in areas such as Parque Lleras or the Milla de Oro.
- Fairs and Events: The city offers a number of fairs and annual events such as Feria de las Flores in August, The Feria Taurina in January-February, Festival Internacional de Poesía in july, Colombiatex, Colombiamoda de las Americas, among others.
- The number of visitors since 2006 has increased on a 71.66%, passing from 95,026 in that year to 163,120 people in 2010.
- Connectivity: 80 international flights per week and more than 630 domestic.
- Hotels: It has approximately 77 hotels in top form, wich means, between four and five stars. 6,000 rooms and it is going to exist 1015 between 2011 and 2012.
- Human Capital: Between 2001 and 2010 more than 1,100 graduating students of Administration of Hotel Companies. and related programs.
- At the national level, Antioquia represents 16.09% of PIB generated by the activity of Hotels and Restaurants.
Outsourcing of Services BPO:
- Opportunities for the creation of Shared Services Centers for Latam and Outsourcing Companies that provide services Costumer Care, ESO, FAO, HRO, Telemedicine and Research and Development (Medellin).
Software and TI Services:
- Opportunities for development and integration of Ti Services and Applications for M & A, Software Factories and assembly of data centers.
- Cluster of Information Technologies and Communications that allows software development for microelectronics, nanotechnology, biotechnology, agro-technology and mobile applications.
- Human Resources: In 2009, Medellin registered 13.466 graduates in programs of pregrade related to the sectors BPO and technology, as Systems engineering, Electronic Engineering, Telecommunications, Modern Languages between others.
- Sectoral Experience: in 2009 there were 31,000 people in the city with experienced in the financial sector and 134,000 people with experience in corporate services.
- Cost of workforce: Operating costs for a full-time employee are $ 12.4 in English and $ 8.5 in Spanish per hour.
- Telecommunications:
- It offers services of connectivity IP across networks of television for cable, of telephony, of optical and wireless fiber. The latter mobile and fixed across the points wimax.
- Medellin was outlined in the qualification of penetration of broad band opposite to other cities of the region occupying the sixth place in the study of América Economía of the ranking 2009.
- Investigation, development and innovation: Important initiatives and institutions that support the development of the Investigation the Knowledge and the Technology: the el Centro de Ciencia y Tecnología de Antioquia CTA, Corporación Tecnnova-UEE, the parque del emprendimiento and the Instituto del emprendimiento Cisco, between others.
- More than 20 companies inside the sector of Tics and more than 6 important companies in BPO's sector.
- The principal local players of BPO's sector in Medellin, brought sales in 2009 for COP$390.354 (approximately US$182 million), showing an average growth with regard to the previous year of 22 %.
Cosmetics and Toiletries:
Opportunities in manufacturing, research and development and distribution centers.
- 13% of the largest packaging companies that supply the cosmetics industry are in Medellín (65 companies).
- Research and Development - Centers I & D as support to the industry:
- Centro de Secuenciación Genómica (Colciencias y Univ. Antioquia) – Biontropic.
- Red de Universidades y Centros generando I&D
- The Human Capital: qualified Workforce - 8.850 graduates between 2001 and 2009 of related careers to the industry as: agronomy, agronomic, cattle engineering, chemical engineering, between others.
- Easy access to the domestic market for its central location.
- Fashion Theme Tradition in Colombia.
Tourism Infrastructure:
- Beautiful museums and plenty of parks and public spaces such as the Jardín Botánico and the Parque de los Píes Descalzos.
- Medellin has 29 squares and parks, 19 museums, 11 libraries, 25 theaters, seven religious monuments, 18 architectural Heritage sites and 31 shopping centers.
- Excellent dining and nightlife in areas such as Parque Lleras or the Milla de Oro.
- Fairs and Events: The city offers a number of fairs and annual events such as Feria de las Flores in August, The Feria Taurina in January-February, Festival Internacional de Poesía in july, Colombiatex, Colombiamoda de las Americas, among others.
- The number of visitors since 2006 has increased on a 71.66%, passing from 95,026 in that year to 163,120 people in 2010.
- Connectivity: 80 international flights per week and more than 630 domestic.
- Hotels: It has approximately 77 hotels in top form, wich means, between four and five stars. 6,000 rooms and it is going to exist 1015 between 2011 and 2012.
- Human Capital: Between 2001 and 2010 more than 1,100 graduating students of Administration of Hotel Companies. and related programs.
- At the national level, Antioquia represents 16.09% of PIB generated by the activity of Hotels and Restaurants.
| Economic Indicators 17/05/2012 |
|
| Inflation | |
| Goal of inflation | 2.0-4.0 % |
| Annual inflation | 3.43 |
| Rates of interest - 17/05/2012 | |
| Rate of intervention | 5.25 % |
| Rate Interbancaria | 5.26 |
| TRM - 17/05/2012 | |
| Exchange rate (TRM) | $ 1,793.61 |
| Nominal depreciation - last 12 months | -1.18 |
