Tag Archives: growth

Internet is booming in Colombia!

imagesLatin America must be one of the higher growth markets for “the internet” at the moment. Colombia has currently about 12million users and this number is growing with about 30-40% !!!!! a year. Actually I think we (as in my Colombian people and me 😉 ) are one of the bigger “communities” in what must be the most popular site worldwide of the moment; Facebook which I see as a great accomplishment for our third world country 😉

With a fast growing amount of users, Colombias internet economy is also growing fast. I read last week that payments through the internet grew by about 50% from last year so it seems that also business over the internet is going to be a very normal thing here soon. Slowly people are getting more confidence and we are seeing better (Colombian) made and more secure pages arriving to the market. Especially the younger crowd (more than elsewhere in the world) is leading this developments and is putting its time and effort in developing sites, ideas and business without any big investors backing them up for the moment, but they should soon wake up and smell the coffee.

watch-reloj-tokyo-flash-pimp-p2_a_MEDFor me these developments are great as I live without the internet would be a little boring; the more internet the better! 😉  Without internet I could not know how to write “guevón” (popular word among Colombians that is kind of offensive except when used with friends), how my friend in Holland is doing with his new baby, when there will be another family meeting or I would not have the cool watch that I found at www.mundounik.com, a Colombian webstore that sells some crazy watches.

Hopefully this development of the internet will continue for a long time as it is not only good for the economy (ie. it has created big opportunities for outsourcing in LA) but also the general education level of the Colombians must be rising fast with the increasing access to global news and resource information.

My refrigerator is sending me an email that we are out of tomatoes so got to order some from Carulla and make luch…

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Business Week on Colombia

http://www.businessweek.com/magazine/content/07_22/b4036001.htm

Interesting article about the economy and investing in Colombia.

On a continent whose economic history is the stuff of a blooper reel, Colombia’s strong fundamentals stand out. Its $130 billion economy, a world leader in the production of coffee, petroleum, textiles, and flowers, is growing at 6.8% a year, two full points faster than the Latin American average. In the past 10 years, Colombia has slashed its inflation rate from 18% to 5%, and since Uribe was elected, unemployment has dipped from 16% to 13%. The nation has never defaulted on its debt or experienced hyperinflation. And entrepreneurial thinking is spreading. Run a Google (GOOG ) geographical-hit query, and you’ll see that, per capita, nowhere in the world are there more searches for the words “Peter Drucker,” the late management guru, than in Bogotá. No. 2? Medellín.

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