According to investment promotion agency (IPA) Invest in Cartagena, the Caribbean coastal city has become an attractive area for investment.
Last August the Intercontinental Hotel in Cartagena was the scene of the Cartagena & Bolívar Investment Summit, organized by Invest in Cartagena, with the support of the Cartagena Mayor’s Office, the Government of Bolívar (the “department” or province where Cartagena is situated), the Bolivar chapter of business association ANDI, and the Chamber of Commerce of Cartagena , where investors, businesspeople and allies met to listen and expand their knowledge about the sectors, with the aim of promoting investment in the different gears of the city’s economy.
According to Invest in Cartagena, the 6 most important reasons to invest in Cartagena:
- Cartagena stands out as one of the most important tourist destinations in Colombia for both domestic and international tourists. According to figures from Migration Colombia, last year 433,058 foreign tourists relied on Cartagena de Indias as a travel destination, enjoying its historic center, colonial streets and the Caribbean Sea; and nationwide the increase in passengers from 2012-2018 has been 55.6%.
- It has a privileged geographical position that makes the territory a natural meeting point, since it is located in the heart of the Americas and located outside of the hurricane belt in one of the safest areas of the Caribbean Sea, 265 miles from the Panama Canal, just a two hours flight from Florida and a one hour flight from Panama.
- It has Monsú, the first industrial and logistic mega-park in Colombia. The Monsú megaproject enjoys all the national tax benefits accorded to free zones in addition to additional local tax incentives. The development of 662 acres is composed of 5 developments within the mega-project:
- High impact industrial park
- Free zone
- Logistics activity zone
- Service area
- Expansion zone.
- Today, Cartagena is positioned as a new industrial and hydrocarbon hub in Colombia, a strategic location for large multinational and national companies from different economic sectors such as industrial, petrochemical, textile and construction.
- The city has the largest number of free zones in the country, as well as accessible and strategically located land for any type of investment; such as La Candelaria Free Zone, with port access and raw materials suppliers in the immediate vicinity.
- More than 50% of the country’s customs operations are carried out in Cartagena, making the port the 5th busiest in Latin America with connections to more than 596 maritime terminals in 136 countries.
- Cartagena is a resurgent cruise destination. After decades without passenger cruises, Cartagena is back. In just 4 days, between December 11 and 15, 2018, Cartagena received 14 cruises with 38,373 people who left an estimated tourist spend of $4.2 million USD according to the Port of Cartagena