Nearshore Americas
Barranquilla invest

Barranquilla Received $268 Million Investment in 2021

The 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.

Sign up for our Nearshore Americas newsletter:

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.

Narayan Ammachchi

News Editor for Nearshore Americas, Narayan Ammachchi is a career journalist with a decade of experience in politics and international business. He works out of his base in the Indian Silicon City of Bangalore.

Add comment