Bogota

Bogotá anchors Colombia's economic recovery as both capital and tech hub. Colombia's economy grew 1.7% in 2024—triple the 0.7% of 2023—driven by agriculture and services. GDP reached over $1 trillion (PPP), with per capita income exceeding $19,000. Unemployment fell to 9.1% by December 2024, the lowest since 2017, while inflation declined to 5.2% and is expected to reach the central bank's target range by end-2025.

The tech sector positions Bogotá as Latin America's emerging IT hub. Software and IT accounted for 3.0% of national GDP in 2023, with sector sales of $2.17 billion making Colombia the third-largest market in the region after Brazil and Mexico. IT exports reached $1.9 billion in 2024, primarily to the U.S. and Mexico, focused on cloud computing, cybersecurity, and custom software. The market projects 6.27% annual expansion. Government investment extended connectivity to approximately three million additional people in 2024, including remote regions.

Sectoral divergence marks the recovery. Agriculture and livestock surged 8.1% in 2024, with coffee production up 22.5%—contributing 47% of national growth. Mining contracted 5.2%; manufacturing fell 2.1%. For 2025, financial services lead projected growth at 4.6%, followed by communications (4.3%) and construction (3.4%). Forecasts project 2.5-3.0% GDP growth. Colombia is emerging as a diversified middle-income economy where services and technology increasingly counterbalance commodity dependence—a transition Bogotá's tech clusters embody.