Economy In Colombia

Colombia’s unemployment rate has remained below 10% and with a growing labor force, nearing 25 million, there seems to be an increasing amount of work to go around. 

Nearly 65% of the Colombian employed workforce is in the service industry, with another 20% in industry, and 17% in agriculture.

Most importantly, a growing technology sector has also attracted many young entrepreneurs and adept expats looking to work in Colombia.

The World Bank describes Colombia as a country with “a track record of conservative macroeconomic and fiscal management, anchored on an inflation targeting regime, a flexible exchange rate, and an upgraded rule-based fiscal framework, which provides secure macroeconomic stability, a key ingredient for poverty reduction”.

A Reuters poll released on September 2024 indicates that Colombia’s economy is expected to grow by 2.2% in the second quarter of 2024 compared to the same time last year, showing an increase from the growth seen in the first quarter.