Narayan AmmachchiThe Colombian city of Barranquilla received US$268 million in investment during 2021, leading to the creation of nearly 3,000 jobs.
The tourism and construction sectors received a lion’s share of this cash inflow, according to local investment promotion agency ProBarranquilla.
American multinational Marriott has plowed as much as $30 million into a project designed to build a hotel in the City. Similarly, Caribe Aventura has agreed to invest $20 million in the construction of a theme park.
Real estate firm Alegra has announced that it would build shopping malls in the city with an investment of around US$100 million, reported El Heraldo, citing data from the investment promotion agency.
Interestingly, the service sector accounted for 45% of new projects in the city. The BPO sector alone accounted for 24% of the investment in the services sector. Sitel and HGS are the major players in the city’s outsourcing sector.
Strong infrastructure and a high number of bilinguals have long been the major factors driving BPO expansion in Barranquilla.
Foreign investment is expected to grow further in 2022 as the Andean country seems to have won the battle against the COVID-19 pandemic with a high vaccination rate. More than 75% of its citizens have received at least one dose of the vaccine.
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