Traslated by Andrés Martínez Forero
‘Bogotá, My City, My Home’ continues to position the city as a top destination for foreign investment, driving both local and regional economic growth. Invest in Bogotá—the city-region’s economic development agency—recently released its latest Foreign Direct Investment (FDI) report, highlighting the arrival of 105 new and expansion investment projects in 2024, marking an 11.7% increase. This growth cements Bogotá’s standing as the third most attractive FDI destination in Latin America.
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According to Invest in Bogotá, the 105 foreign investment projects brought to the region in 2024 are expected to generate close to USD 2.4 billion and create more than 12,000 new jobs.
“It’s worth highlighting that one in four investment projects in 2024 were reinvestments. This shows that Bogotá continues to be one of the top choices for businesses,” said Carlos Suárez, Acting Executive Director of Invest in Bogotá.
With these results, Bogotá-Region secured its place as the third-leading recipient of FDI in Latin America—behind only Mexico City and São Paulo—and reaffirmed its position as Colombia’s top destination for foreign investment, accounting for 46.5% of all projects nationwide.
These figures underscore the city-region’s growing role as a key driver of Colombia’s economy and its rising capacity to attract large-scale, high-impact foreign investment.
“Bogotá-Region doesn’t just account for 46.5% of Colombia’s FDI projects—it’s attracting high-value investments in areas like data centers, shared service hubs, and logistics centers. This proves we’re well-equipped to host complex operations and remain competitive across Latin America,” Suárez added.
In terms of investment origin, the United States led with 28.6% of total projects, followed by Spain (9.5%) and Mexico (8.6%). The most active sectors included retail and consumer goods, software and IT services, and corporate services—together representing half of all FDI projects in the region.
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Global FDI Trends
According to fDi Markets, global new and expansion investment projects rose by 1.9% in 2024 compared to 2023. North America led the way with 21.2% growth, driven primarily by a 77% surge in real estate projects. The Asia-Pacific region grew 6.3%, boosted by corporate services and industrial machinery sectors. Latin America and the Caribbean saw a 3.0% increase, driven by a 19% rise in corporate services and 34% growth in textile retail.
In contrast, Western Europe contracted by 8.6% due to a drop in software, textile, and renewable energy projects. Emerging Europe remained stable (-0.3%), while Africa saw a 5.4% decline, mainly due to a reduction in renewable energy and financial services projects.
FDI in Latin America
In 2024, seven of the top 10 recipients of FDI in Latin America and the Caribbean saw growth. Mexico led the region with a 5.0% increase, driven by industrial equipment, corporate services, and telecoms. Brazil posted 6.9% growth, boosted by software, IT, and renewables.
Colombia experienced a solid 21.2% increase (based on fDi Markets data), with strong momentum in consumer goods and retail. Peru led regional growth with an impressive 69.4% surge, driven by a boom in consumer retail and corporate services. On the downside, Costa Rica saw a 56.6% drop in FDI projects, mostly due to declines in software, IT, and corporate services. Uruguay and Panama also experienced declines of 30.8% and 7.7%, respectively.
2025 Investment Outlook for Bogotá
A recent survey by Invest in Bogotá found that 70% of 65 foreign companies plan to invest in the Bogotá-Region in 2025—an encouraging sign of confidence in the city’s business climate, particularly in IT services and infrastructure.
The agency has identified nearly 120 investment opportunities that could generate over 16,000 jobs in the coming years, with average investments ranging from USD 3.4 million to USD 12.6 million per project.
Roughly half of these opportunities are in knowledge-intensive service sectors, especially health services and corporate support. The outlook suggests growing interest from Chile and Argentina, and the continued strengthening of ties with the U.S., Mexico, and Spain as Bogotá Region’s key investment partners.
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About Invest in Bogotá
Invest in Bogotá is a public-private partnership between the Bogotá Chamber of Commerce and the Capital District. Its mission is to facilitate international investment, attract world-class events, and strengthen the high-impact entrepreneurship ecosystem to enhance Bogotá Region’s socio-economic development, competitiveness, and quality of life—positioning it as the top destination for doing business in Latin America.
* FDI Markets is a specialized data intelligence tool that tracks foreign direct investment (FDI) projects worldwide.
*This article was created using information provided by Invest in Bogotá and curated by a journalist from Portal Bogotá. For suggestions, questions, or more information, visit Bogotá Te Escucha: https://bogota.gov.co/sdqs/
