Narayan AmmachchiColombia’s Caribbean region is experiencing a strong revival in economic activities, with both domestic and foreign firms expanding operations to the port cities of Barranquilla and Cartagena.
Interestingly, the BPO sector accounted for 72% of new jobs generated this year, according to local Spanish news outlet Larepublica, which cited a report from investment promotion agency ProBarranquilla.
Manufacturing and tourism were the other sectors where more jobs were created. Barranquilla received 15 new investments so far this year. Three of which came from the firms that had already been present in the region, the other companies creating jobs are new to the region.
Chinese company Waston Medical is setting up a factory at a cost of US$5 million to manufacture medical devices.
Cartagena is receiving investments in the energy and IT services sector. The port city is well connected with the outside world.
Cartagena has direct flights to several European and US cities. ICT infrastructure is also just as good in the city, as Colombia’s submarine fiber optic cable enters through Cartagena.
The Caribbean coast, Barranquilla in particular, was least affected by the COVID-19 pandemic, which destroyed hundreds of thousands of jobs elsewhere in the country.
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