One of Latin America’s top business magazines ranked Colombia’s capital city of Bogota as the 8th best city in Latin American for doing business in 2012.
Best cities to do business
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The magazine, America Economia has moved Bogota into the eigth position, up from the 16th spot in 2003 for progress in providing services, attracting foreign investment, possesing a high quality of human capital, infrastructure development and physical connectivity.
Bogota ranks in front of many notable cities including Brazil’s capital of Brasilia (9), Peru’s capital of Lima (10), and Venezuela’s capital of Caracas (44).
Cities ranking ahead of Bogota include the Brazilian cities of Rio de Janeiro and Sao Paulo, Argentina’s capital of Buenos Aires, and Panama City. Miami, in spite not being located in Latin America, ranks as number one.
The ranking system is based off of scores in social and political framework, economic growth, business services, infrastructure, human capital, environmental sustainability, and others.
Colombia scored high in environmental issues, political instability and corruption and fared better than higher ranked Buenos Aires and Mexico City in these categories.
The report claims that Colombia has a high potential for “advances in infrastructure, reducing corruption, and political instability, becoming the only non-Asian with overall development potential.”
Colombia’s second largest city Medellin ranked 20 in the index, dropping three places since last year.
More: Medellin named ‘most innovative city’ of 2012
Sources
- Las mejores ciudades para hacer negocios en America Latina (America Economia)
- Bogota, reconocida como una de las ciudades mas exitosas de America Latina (El Espectador)
- Bogotá es la octava ciudad más exitosa en América Latina (RCN Radio)
