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	<title>minnesota &#8211; Finance Colombia</title>
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		<title>4 Attractive Colombian Business Locations You&#8217;ve Probably Overlooked</title>
		<link>https://www.financecolombia.com/4-attractive-colombian-business-locations-youve-probably-overlooked/</link>
		
		<dc:creator><![CDATA[Loren Moss]]></dc:creator>
		<pubDate>Sat, 04 Jan 2020 19:42:06 +0000</pubDate>
				<category><![CDATA[OpEd, Expert, or Guest Contribution]]></category>
		<category><![CDATA[Alejandro Char]]></category>
		<category><![CDATA[armenia]]></category>
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		<guid isPermaLink="false">https://www.financecolombia.com/?p=18994</guid>

					<description><![CDATA[Colombia’s economy continues to grow, and the country attracts more foreign direct investment every year. Just this October, over a billion US dollars in FDI was announced at investment Promotion Agency ProColombia’s 2019 Investment Summit. Colombia’s capital of 9 million souls, Bogotá continues to ...]]></description>
										<content:encoded><![CDATA[<p>Colombia’s economy continues to grow, and the country attracts more foreign direct investment every year. Just this October, <a href="https://www.financecolombia.com/procolombia-announces-over-1-billion-usd-in-new-foreign-direct-investment/">over a billion US dollars in FDI was announced at investment Promotion Agency ProColombia’s 2019 Investment Summit.</a> Colombia’s capital of 9 million souls, <a href="https://www.booking.com/city/co/bogota.xu.html?aid=1932612&amp;no_rooms=1&amp;group_adults=2&amp;room1=A%2CA">Bogotá </a>continues to receive most attention from foreign businesses considering Colombia, closely followed by<a href="https://www.booking.com/city/co/medellin.xu.html?aid=1932612&amp;no_rooms=1&amp;group_adults=2&amp;room1=A%2CA"> Medellín; </a>Colombia’s aspiring version of Silicon Valley with a population of 2.5 million, though suburbs and nearby bedroom communities house another 2 million for a metropolitan of over 4 million people. Still, as a country of almost 50 million people, there are other destinations that may be worth considering.</p>
<h2><strong><a href="https://www.booking.com/searchresults.en.html?city=-578007&amp;aid=1932612&amp;no_rooms=1&amp;group_adults=1">Barranquilla <em>“La Arenosa (sandy city)” </em></a></strong></h2>
<h2><em><a href="https://en.wikipedia.org/wiki/Human_Development_Index">Human Development Index:</a> .821—High, Population 1,232,462</em></h2>
<p><a href="https://www.barranquilla.gov.co/">Barranquilla</a> (above photo)is Colombia’s largest coastal city, with a population of 1.2 million; slightly more residents than nearby <a href="https://www.booking.com/searchresults.en.html?city=-579943&amp;aid=1932612&amp;no_rooms=1&amp;group_adults=1">Cartagena. </a>While Cartagena is a famous historical tourist city, Barranquilla is an industrial powerhouse and on the coast of the navigable Magdalena River, a primary gateway to the country’s interior. Barranquilla is home to Colombian architectural glass giant <a href="https://www.tecnoglass.com/">Tecnoglass (NASDAQ: TGLS),</a> an employer of almost 6,000 that uses the city’s port location to export almost half a billion dollars of glass per year to the US and other markets. The city is also suitable for outsourcing services. <a href="https://www.aib.com.co/en/">Atlantic International BPO,</a> a subsidiary of <a href="https://www.teamhgs.com/">HGS </a>is based in Barranquilla.</p>
<blockquote><p><em><a href="https://amzn.to/2ZRipDV">Global pop star Shakira</a> is a Barranquilla native.</em></p></blockquote>
<p>The city is well run. Outgoing two-time mayor Alejandro Char left office with an astounding (&amp; independently verified) 94% approval rating. There is no beach in the city, but nightlife &amp; tourism magnet <a href="https://www.booking.com/searchresults.en.html?city=-579943&amp;aid=1932612&amp;no_rooms=1&amp;group_adults=1">Cartagena</a> is less than 2 hours to the west, and the <a href="https://www.booking.com/searchresults.en.html?city=-598739&amp;aid=1932612&amp;no_rooms=1&amp;group_adults=1">beach resort town of Santa Marta</a> is less than 2 hours to the east. Ernesto Cortissoz International Airport (BAQ) has nonstop international connections to the United States, <a href="https://www.booking.com/region/pa/panama.xu.html?aid=1932612&amp;no_rooms=1&amp;group_adults=2&amp;room1=A%2CA">Panamá</a>, Ecuador, <a href="https://www.booking.com/region/aw/dutch-antilles.xu.html?aid=1932612&amp;no_rooms=1&amp;group_adults=2&amp;room1=A%2CA">Aruba,</a> and Venezuela.</p>
<p>Though rare in the rest of the country, American baseball is a popular sport in Barranquilla and the Atlantic coastal region of Colombia.</p>
<h2><strong><a href="https://www.booking.com/searchresults.en.html?city=-579248&amp;aid=1932612&amp;no_rooms=1&amp;group_adults=1">Cali “La Sultana del Valle (the Sultana of the valley)” </a></strong></h2>
<h2><em><a href="https://en.wikipedia.org/wiki/Human_Development_Index">Human Development Index:</a> .910—Very High, Population 2,445,405</em></h2>
<blockquote><p><em>Though the musical genre was invented in New York by Puerto Ricans, Cali proclaims itself the “Salsa Capital of the World” and dancing salsa is virtually a religion in the city. <a href="https://amzn.to/2QnPNij">Salsa super-group Grupo Niche</a> is native to Cali.</em></p></blockquote>
<p><a href="https://www.cali.gov.co/">Cali </a>is the largest city in the Southwest of Colombia, and the closest major city to the country’s only international port on the Pacific Ocean, <a href="https://www.booking.com/city/co/buenaventura.xu.html?aid=1932612&amp;no_rooms=1&amp;group_adults=2&amp;room1=A%2CA">Buenaventura.</a> Situated in a fertile agricultural valley, Cali is the capital of Colombia’s sugar industry, and the road from the airport into town is lined with sugar cane plantations. Not surprisingly, Cali’s economy is supported by a strong industrial and agricultural base and enjoys a low cost of living.</p>
<p>That doesn’t mean the city isn’t attractive for professional services, as evidenced by large global services delivery business parks constructed by developers like <a href="https://www.financecolombia.com/report-cali-demanding-attention-of-global-investors-as-demonstrated-by-giant-hi-tech-business-park-under-construction/">Zonamerica</a> and <a href="https://www.financecolombia.com/zfb-group-opens-multitenant-bpo-oriented-facility-in-cali/">ZF Towers Versalles. </a>Cali gets much less attention than Medellín &amp; Bogotá but the city does have the infrastructure and bilingual talent pool to support even large operations.<a href="https://www.financecolombia.com/wp-content/uploads/2020/01/Panoramic_view_Cali_Col-scaled.jpg"><img fetchpriority="high" decoding="async" class="aligncenter wp-image-19000 size-large" src="https://www.financecolombia.com/wp-content/uploads/2020/01/Panoramic_view_Cali_Col-800x228.jpg" alt="" width="800" height="228" srcset="https://www.financecolombia.com/wp-content/uploads/2020/01/Panoramic_view_Cali_Col-800x228.jpg 800w, https://www.financecolombia.com/wp-content/uploads/2020/01/Panoramic_view_Cali_Col-417x119.jpg 417w, https://www.financecolombia.com/wp-content/uploads/2020/01/Panoramic_view_Cali_Col-1536x438.jpg 1536w, https://www.financecolombia.com/wp-content/uploads/2020/01/Panoramic_view_Cali_Col-768x219.jpg 768w, https://www.financecolombia.com/wp-content/uploads/2020/01/Panoramic_view_Cali_Col-200x57.jpg 200w, https://www.financecolombia.com/wp-content/uploads/2020/01/Panoramic_view_Cali_Col-scaled.jpg 1600w" sizes="(max-width: 800px) 100vw, 800px" /></a></p>
<p>As the gateway city to both the Pacific ocean through nearby <a href="https://www.booking.com/city/co/buenaventura.xu.html?aid=1932612&amp;no_rooms=1&amp;group_adults=2&amp;room1=A%2CA">Buenaventura</a>, and to Ecuador and the rest of South America via its southern highways, Cali offer strategic advantages when ground transportation is integral to an investor’s supply chain. Ample flat terrain as a valley city make construction and transportation easy and inexpensive.</p>
<p>Cali’s Alfonso Bonilla Aragón International Airport (CLO) is located in the Cali suburb of<a href="https://www.booking.com/city/co/palmira.xu.html?aid=1932612&amp;no_rooms=1&amp;group_adults=2&amp;room1=A%2CA"> Palmira </a>and offers direct international flights to or from <a href="https://www.booking.com/region/pa/panama.xu.html?aid=1932612&amp;no_rooms=1&amp;group_adults=2&amp;room1=A%2CA">Panamá</a>, the United States, <a href="https://www.booking.com/region/aw/dutch-antilles.xu.html?aid=1932612&amp;no_rooms=1&amp;group_adults=2&amp;room1=A%2CA">Curaçao, </a>Peru, Ecuador &amp; Spain.</p>
<h2><strong>The “Eje Cafetero (the Coffee Axis)” </strong></h2>
<h2><em><a href="https://en.wikipedia.org/wiki/Human_Development_Index">Human Development Index:</a> .758—Medium (Armenia), .820—High (Manizales), Populations: <a href="https://www.booking.com/searchresults.en.html?city=-594819&amp;aid=1932612&amp;no_rooms=1&amp;group_adults=1">Pereira 4</a>76,636; <a href="https://www.booking.com/searchresults.en.html?city=-591834&amp;aid=1932612&amp;no_rooms=1&amp;group_adults=1">Manizales</a> 400,136; <a href="https://www.booking.com/searchresults.en.html?city=-577588&amp;aid=1932612&amp;no_rooms=1&amp;group_adults=1">Armenia </a>301,224</em></h2>
<div id="attachment_18998" style="width: 455px" class="wp-caption alignright"><a href="https://www.financecolombia.com/wp-content/uploads/2020/01/A-Misty-Morning-in-Manizales-scaled.jpg"><img decoding="async" aria-describedby="caption-attachment-18998" class=" wp-image-18998" src="https://www.financecolombia.com/wp-content/uploads/2020/01/A-Misty-Morning-in-Manizales-583x350.jpg" alt="A misty morning in Manizales (photo credit Loren Moss)" width="445" height="267" srcset="https://www.financecolombia.com/wp-content/uploads/2020/01/A-Misty-Morning-in-Manizales-583x350.jpg 583w, https://www.financecolombia.com/wp-content/uploads/2020/01/A-Misty-Morning-in-Manizales-800x480.jpg 800w, https://www.financecolombia.com/wp-content/uploads/2020/01/A-Misty-Morning-in-Manizales-417x250.jpg 417w, https://www.financecolombia.com/wp-content/uploads/2020/01/A-Misty-Morning-in-Manizales-1536x922.jpg 1536w, https://www.financecolombia.com/wp-content/uploads/2020/01/A-Misty-Morning-in-Manizales-768x461.jpg 768w, https://www.financecolombia.com/wp-content/uploads/2020/01/A-Misty-Morning-in-Manizales-750x450.jpg 750w, https://www.financecolombia.com/wp-content/uploads/2020/01/A-Misty-Morning-in-Manizales-200x120.jpg 200w, https://www.financecolombia.com/wp-content/uploads/2020/01/A-Misty-Morning-in-Manizales-scaled.jpg 1600w" sizes="(max-width: 445px) 100vw, 445px" /></a><p id="caption-attachment-18998" class="wp-caption-text">A misty morning in Manizales (photo credit Loren Moss)</p></div>
<p>Colombia’s “Coffee Axis” is an urban region in the heart of coffee-growing country roughly halfway between <a href="https://www.booking.com/city/co/medellin.xu.html?aid=1932612&amp;no_rooms=1&amp;group_adults=2&amp;room1=A%2CA">Medellín </a>to the north, and <a href="https://www.booking.com/city/co/cali.xu.html?aid=1932612&amp;no_rooms=1&amp;group_adults=2&amp;room1=A%2CA">Cali </a>to the south. If one thinks of it as analogous to the “Research Triangle” of <a href="https://www.booking.com/city/us/raleigh.xu.html?aid=1932612&amp;no_rooms=1&amp;group_adults=2&amp;room1=A%2CA">Raleigh</a>&#8211;<a href="https://www.booking.com/city/us/durham.xu.html?aid=1932612&amp;no_rooms=1&amp;group_adults=2&amp;room1=A%2CA">Durham</a> in North Carolina (US) or the “Twin Cities” of <a href="https://www.booking.com/city/us/minneapolis.xu.html?aid=1932612&amp;no_rooms=1&amp;group_adults=2&amp;room1=A%2CA">Minneapolis</a>&#8211;<a href="https://www.booking.com/city/us/saint-paul.xu.html?aid=1932612&amp;no_rooms=1&amp;group_adults=2&amp;room1=A%2CA">St. Paul</a> in Minnesota (also US), this region is a cluster of small cities near enough to one another to function largely as a single economic region and labor pool. The three primary cities are <a href="https://manizales.gov.co/">Manizales,</a> Caldas; <a href="https://www.pereira.gov.co/Paginas/default.aspx">Pereira,</a> Risaralda; and <a href="https://www.armenia.gov.co/">Armenia, </a>Quindió. Manizales has the most universities (7) per capital of any municipality in Colombia.</p>
<div id="attachment_18999" style="width: 477px" class="wp-caption alignleft"><a href="https://www.financecolombia.com/wp-content/uploads/2020/01/P1100286-scaled.jpg"><img decoding="async" aria-describedby="caption-attachment-18999" class="size-medium wp-image-18999" src="https://www.financecolombia.com/wp-content/uploads/2020/01/P1100286-467x350.jpg" alt="Panaca is an entertaining amusement park with an educational purpose: Teaching tourists about agriculture, animal husbandry, and Colombia's rural heritage. (Photo credit Loren Moss)" width="467" height="350" srcset="https://www.financecolombia.com/wp-content/uploads/2020/01/P1100286-467x350.jpg 467w, https://www.financecolombia.com/wp-content/uploads/2020/01/P1100286-640x480.jpg 640w, https://www.financecolombia.com/wp-content/uploads/2020/01/P1100286-1280x960.jpg 1280w, https://www.financecolombia.com/wp-content/uploads/2020/01/P1100286-333x250.jpg 333w, https://www.financecolombia.com/wp-content/uploads/2020/01/P1100286-768x576.jpg 768w, https://www.financecolombia.com/wp-content/uploads/2020/01/P1100286-1536x1152.jpg 1536w, https://www.financecolombia.com/wp-content/uploads/2020/01/P1100286-2048x1536.jpg 2048w, https://www.financecolombia.com/wp-content/uploads/2020/01/P1100286-600x450.jpg 600w, https://www.financecolombia.com/wp-content/uploads/2020/01/P1100286-200x150.jpg 200w, https://www.financecolombia.com/wp-content/uploads/2020/01/P1100286-scaled.jpg 1600w" sizes="(max-width: 467px) 100vw, 467px" /></a><p id="caption-attachment-18999" class="wp-caption-text">Panaca is an entertaining amusement park with an educational purpose: Teaching tourists about agriculture, animal husbandry, and Colombia&#8217;s rural heritage. (Photo credit Loren Moss)</p></div>
<p>Agriculture is an obvious economic engine in this peaceful, low crime area, though it also houses several universities providing thousands of bilingual students to <a href="https://www.financecolombia.com/atento-opens-3rdcontact-center-in-pereira-risaralda-8th-in-colombia/">the contact center and BPO services sector.</a> Tourism is also a draw, with activities and tourist infrastructure for domestic and international visitors. Manizales is home to <a href="https://www.financecolombia.com/colombias-wine-scene-come-long-way-says-top-sommelier/">some amazing restaurants,</a> and major amusement parks such as agriculture-themed <a href="https://panaca.com.co/">Panaca</a> and coffee-themed <a href="https://parquedelcafe.co/en/">Parque del Café</a>. <a href="https://www.financecolombia.com/santo-kaffeto-cafe-manizales-teaching-colombia-best-coffee/">Coffee is still king</a> in this area, and there are countless <em>fincas </em>(plantations) open to visitors, many with bed &amp; breakfast facilities. Nearby volcanoes fuel several natural hot springs, <a href="https://sanvicente.com.co/en/">some of which have been made into spa facilities.</a> There are abundant opportunities for ecotourism such as the <a href="https://www.parquesnacionales.gov.co/portal/es/ecoturismo/region-andina/parque-nacional-natural-los-nevados/">Los Nevados National Park, home to the Nevado del Ruiz active volcano,</a> the <a href="https://www.colparques.net/COCORA">Cocorá Valley</a> with the <a href="https://en.wikipedia.org/wiki/Ceroxylon_quindiuense">world’s tallest palm trees</a>, and <a href="https://www.booking.com/searchresults.en.html?city=-596981&amp;aid=1932612&amp;no_rooms=1&amp;group_adults=1">scenic/artisanal tourist town Salento. </a>Rather than one big city, this neighborhood of several small cities has a palpably more relaxed lifestyle but with the infrastructure, labor pool and resources of a larger metropolis.</p>
<div id="attachment_18996" style="width: 477px" class="wp-caption alignright"><a href="https://www.financecolombia.com/wp-content/uploads/2020/01/P1100537-scaled.jpg"><img decoding="async" aria-describedby="caption-attachment-18996" class="size-medium wp-image-18996" src="https://www.financecolombia.com/wp-content/uploads/2020/01/P1100537-467x350.jpg" alt="One of several roller coasters at Parque del Cafe in Colombia's Eje Cafetero (Photo credit: Liliana Padierna)" width="467" height="350" srcset="https://www.financecolombia.com/wp-content/uploads/2020/01/P1100537-467x350.jpg 467w, https://www.financecolombia.com/wp-content/uploads/2020/01/P1100537-640x480.jpg 640w, https://www.financecolombia.com/wp-content/uploads/2020/01/P1100537-1280x960.jpg 1280w, https://www.financecolombia.com/wp-content/uploads/2020/01/P1100537-333x250.jpg 333w, https://www.financecolombia.com/wp-content/uploads/2020/01/P1100537-1536x1152.jpg 1536w, https://www.financecolombia.com/wp-content/uploads/2020/01/P1100537-768x576.jpg 768w, https://www.financecolombia.com/wp-content/uploads/2020/01/P1100537-600x450.jpg 600w, https://www.financecolombia.com/wp-content/uploads/2020/01/P1100537-200x150.jpg 200w, https://www.financecolombia.com/wp-content/uploads/2020/01/P1100537-scaled-75x55.jpg 75w, https://www.financecolombia.com/wp-content/uploads/2020/01/P1100537-scaled-237x177.jpg 237w, https://www.financecolombia.com/wp-content/uploads/2020/01/P1100537-scaled-440x330.jpg 440w, https://www.financecolombia.com/wp-content/uploads/2020/01/P1100537-scaled-400x300.jpg 400w, https://www.financecolombia.com/wp-content/uploads/2020/01/P1100537-scaled.jpg 1600w" sizes="(max-width: 467px) 100vw, 467px" /></a><p id="caption-attachment-18996" class="wp-caption-text">One of several roller coasters at Parque del Cafe in Colombia&#8217;s Eje Cafetero (Photo credit: Liliana Padierna)</p></div>
<p>Logistically, the Eje Cafetero is located almost centrally between Medellín, Cali and <a href="https://www.booking.com/city/co/bogota.xu.html?aid=1932612&amp;no_rooms=1&amp;group_adults=2&amp;room1=A%2CA">Bogotá, </a>making it a good logistical destination and a hub for the domestic supply chain. Road networks are well developed, redundant and well maintained. Pereira’s Matecana International Airport (PEI) has nonstop flights to The United States and <a href="https://www.booking.com/region/pa/panama.xu.html?aid=1932612&amp;no_rooms=1&amp;group_adults=2&amp;room1=A%2CA">Panamá,</a> while Armenia’s El Eden International Airport (AXM) has flights to The United States. Manizales’ La Nubia Airport (MZL) offers domestic connections.</p>
<h2><strong><a href="https://www.booking.com/searchresults.en.html?city=-578702&amp;aid=1932612&amp;no_rooms=1&amp;group_adults=1">Bucaramanga, “the City of Parks”</a> </strong></h2>
<h2><em><a href="https://en.wikipedia.org/wiki/Human_Development_Index">Human Development Index:</a> .879—High, Population 795,734 (combined with adjoining Floridablanca)</em></h2>
<p><a href="https://www.bucaramanga.gov.co/Inicio/">Bucaramanga</a> is often the most important Colombian city that foreign investors have never heard of. Along with its high-income suburb of <a href="https://www.floridablanca.gov.co/Paginas/default.aspx">Floridablanca</a> and nearby bedroom communities of <a href="https://www.giron-santander.gov.co/Paginas/default.aspx">Girón</a> &amp; <a href="https://www.alcaldiadepiedecuesta.gov.co/Paginas/default.aspx">Pidecuesta,</a> Bucaramanga is the most economically important inland city in the eastern region of Colombia. The tropical city is near the refinery town and river port of <a href="https://www.booking.com/searchresults.en.html?city=-577984&amp;aid=1932612&amp;no_rooms=1&amp;group_adults=1">Barrancabermeja, </a>and is well connected with both Colombia’s Atlantic coast, Bogotá, and Medellín.</p>
<p>Economically prosperous, Bucaramanga has one of the strongest economies in Colombia with a 5.1% annual growth rate from 2004 to 2014, single digit unemployment, the highest per-capital local GDP in Colombia, and a business-friendly political climate. In addition to traditional economic activities such as leatherworking and shoe manufacturing, the city is a base for Colombia’s petroleum industry, with facilities for downstream petroleum firm <a href="https://www.terpel.com/">Terpel </a>and <a href="https://www.ecopetrol.com.co/wps/portal/es">Ecopetrol’s </a>research arm, the <a href="https://www.ecopetrol.com.co/wps/portal/es/ecopetrol-web/nuestra-empresa/innovacion-tecnologia/inicio">Instituto Colombiano de Petroleo</a> (Colombian Petroleum Institute) located in Bucaramanga.</p>
<p>Bucaramanga is the closest large city to Venezuela, so when Colombia’s neighbor is eventually able to return to viability, the city will be well positioned to supply the economic recovery. Bucaramanga’s Palonegro airport (BGA) has nonstop international connections with <a href="https://www.booking.com/region/pa/panama.xu.html?aid=1932612&amp;no_rooms=1&amp;group_adults=2&amp;room1=A%2CA">Panamá.</a></p>
<p>An attractive, well-kept city, Bucaramanga is known as the “City of Parks.” Bumanguesas, as its residents call themselves, enjoy adventure and outdoor sports in nearby<a href="https://www.booking.com/searchresults.en.html?city=-597529&amp;aid=1932612&amp;no_rooms=1&amp;group_adults=1"> San Gil, </a>or the <a href="https://parquenacionaldelchicamocha.com/">Panachi amusement park (Parque Nacional del Chichamocha)</a> in the Chichamocha canyon. Nearby suburb Girón’s colonial architecture and cobbled streets also make for an attractive outing only minutes from the city.</p>
<div id="attachment_19003" style="width: 759px" class="wp-caption aligncenter"><a href="https://www.financecolombia.com/wp-content/uploads/2020/01/Bucaramanga.jpg"><img decoding="async" aria-describedby="caption-attachment-19003" class="wp-image-19003 size-large" src="https://www.financecolombia.com/wp-content/uploads/2020/01/Bucaramanga-749x450.jpg" alt="Bucaramanga skyline (Photo credit: Loren Moss)" width="749" height="450" srcset="https://www.financecolombia.com/wp-content/uploads/2020/01/Bucaramanga-749x450.jpg 749w, https://www.financecolombia.com/wp-content/uploads/2020/01/Bucaramanga-800x480.jpg 800w, https://www.financecolombia.com/wp-content/uploads/2020/01/Bucaramanga-417x250.jpg 417w, https://www.financecolombia.com/wp-content/uploads/2020/01/Bucaramanga-768x461.jpg 768w, https://www.financecolombia.com/wp-content/uploads/2020/01/Bucaramanga-583x350.jpg 583w, https://www.financecolombia.com/wp-content/uploads/2020/01/Bucaramanga-200x120.jpg 200w, https://www.financecolombia.com/wp-content/uploads/2020/01/Bucaramanga-820x492.jpg 820w, https://www.financecolombia.com/wp-content/uploads/2020/01/Bucaramanga.jpg 1024w" sizes="(max-width: 749px) 100vw, 749px" /></a><p id="caption-attachment-19003" class="wp-caption-text">Bucaramanga skyline (Photo credit: Loren Moss)</p></div>
<p><a href="https://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S0120-25962015000200005">An estimation of the adjusted human development index for the Colombian departments</a> — <a href="https://www.scielo.org.co/scielo.php?script=sci_serial&amp;pid=0120-2596&amp;lng=en&amp;nrm=iso">Lecturas de Economía</a> <em>Print version</em> ISSN 0120-2596</p>
<p>Barranquilla photo credit: By &#8211;F3rn4nd0 06:21, 27 March 2007 (UTC) &#8211; Own work, CC BY 2.5, <a href="https://commons.wikimedia.org/w/index.php?curid=1848518">https://commons.wikimedia.org/w/index.php?curid=1848518</a></p>
<p>Cali photo credit: By Aleko David Alejandro Rendón &#8211; Own work, CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=8954828</p>
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		<title>Passion &#038; Progress Define Catalina Restrepo’s Tenure At The Helm Of Investment Promotion Agency ACI Medellín</title>
		<link>https://www.financecolombia.com/passion-progress-define-catalina-restrepos-tenure-at-the-helm-of-investment-promotion-agency-aci-medellin/</link>
		
		<dc:creator><![CDATA[Loren Moss]]></dc:creator>
		<pubDate>Wed, 14 Aug 2019 01:29:40 +0000</pubDate>
				<category><![CDATA[Interview]]></category>
		<category><![CDATA[Public Sector & Education]]></category>
		<category><![CDATA[aci]]></category>
		<category><![CDATA[aci medellin]]></category>
		<category><![CDATA[antioquia]]></category>
		<category><![CDATA[catalina restrepo]]></category>
		<category><![CDATA[colombia]]></category>
		<category><![CDATA[financial times]]></category>
		<category><![CDATA[fti consulting]]></category>
		<category><![CDATA[harvard]]></category>
		<category><![CDATA[jfk school of government]]></category>
		<category><![CDATA[medellin]]></category>
		<category><![CDATA[medellin cuenta con vos]]></category>
		<category><![CDATA[minnesota]]></category>
		<category><![CDATA[Museum of Antioquia]]></category>
		<category><![CDATA[SENA]]></category>
		<category><![CDATA[st. thomas]]></category>
		<category><![CDATA[twin cities]]></category>
		<category><![CDATA[world bank]]></category>
		<category><![CDATA[world economic forum]]></category>
		<guid isPermaLink="false">https://www.financecolombia.com/?p=17641</guid>

					<description><![CDATA[Catalina Restrepo has spent just a year and a half at the helm of ACI Medellín, the city’s investment promotion agency. Still, in that time she has been able to leaver her mark and create a legacy. As the current mayoral administration comes to the  close of its four year term, Finance Colombia’s pu...]]></description>
										<content:encoded><![CDATA[<p>Catalina Restrepo has spent just a year and a half at the helm of ACI Medellín, the city’s investment promotion agency. Still, in that time she has been able to leaver her mark and create a legacy. As the current mayoral administration comes to the  close of its four year term, Finance Colombia’s publisher Loren Moss wanted to discuss Restrepo’s tenure at <a href="https://www.acimedellin.org/">ACI (Agencia de Cooperación e Inversión) Medellín.</a> The agency has been extremely productive over the years in attracting business, foreign investment, and events to Medellín. Still, according to Restrepo there is more to be done.</p>
<p><strong>Finance Colombia:</strong> <strong>So we are here with Catalina Restrepo. What is your title formally?</strong></p>
<p><strong>Catalina Restrepo:</strong> Yes, the Executive Director of the Agency for International Cooperation and Investment for Medellín and the Metropolitan Area, but &#8220;ACI Medellín&#8221; is nicer (smiles).</p>
<p><strong>Finance Colombia:</strong> <strong>Right, and how much time do you have in this role?</strong></p>
<p><strong>Catalina Restrepo:</strong> It&#8217;s been one year and six months.</p>
<p><strong>Finance Colombia:</strong> <strong>And what did you do before? Tell me a bit about your story. Are you a local or from another part of Colombia?</strong></p>
<p><strong>Catalina Restrepo:</strong> I was born and raised in Medellín. I studied high school here in the city of Medellín, and then when I graduated I went to the United States. I went to Minnesota, first to learn English, although I was already in a bilingual school, and then I decided to stay to do my professional studies there in Minnesota. I did my Bachelors in Business Management, and I did a minor in French.</p>
<p><strong>Finance Colombia:</strong> <strong>University of Minnesota?</strong></p>
<p><strong>Catalina Restrepo: </strong><a href="https://www.stthomas.edu/">University of Saint Thomas.</a> Then I had the opportunity to enjoy the Minnesota cold.</p>
<blockquote>
<p style="text-align: right;">We can’t fall into the trap that “yes, Medellín is the best” no. Medellín is the best for us who love it very much, but we all have challenges, we all have to learn, so let&#8217;s say that it&#8217;s still surprising, that when they come here they come as with &#8220;could it be? Is it not?&#8221; And when they get to know us they say “oh well, yes!&#8221;</p>
</blockquote>
<p><strong>Finance Colombia:</strong> <strong>Yes, it&#8217;s like the coldest state except Alaska.</strong></p>
<p><strong>Catalina Restrepo:</strong> Of the United States. The nine months of winter, and the three of summer, but I have eternal gratitude to the Twin Cities (Minneapolis, St. Paul) because I was really happy while I was there, then I had the opportunity to work in finance in the United States, then I returned to Colombia, and returned to Medellín. I worked at the <a href="https://www.museodeantioquia.co/">Museum of Antioquia</a> as Director of Events, then I went to Bogotá, worked in<a href="https://id.presidencia.gov.co/Paginas/presidencia.aspx"> the Presidency of the Republic</a> for four years, after that I worked for the<a href="https://antioquia.gov.co/"> Governor of Antioquia</a>, then to the <a href="https://www.mincit.gov.co/">Ministry of Commerce</a>. I worked in <a href="https://www.worldbank.org/">the World Bank</a> in Bolivia on all issues of competitiveness indicators, and finally I worked in <a href="https://sena.edu.com/">SENA,</a> and then I arrived at <a href="https://www.medellin.gov.co/irj/portal/medellin">the Mayor&#8217;s Office.</a></p>
<p><strong>Finance Colombia:</strong> <strong>Wow, fascinating.</strong></p>
<p><strong>Catalina Restrepo:</strong> So during all that time gaining work experience, I continued my studies; I studied a specialization in Communications and Corporate Social Responsibility. I also did another specialization in Public Government at the <a href="https://www.hks.harvard.edu/">J.F.K. School of Government at Harvard University,</a> and finally I did a Master&#8217;s Degree in Public Relations and Communications.</p>
<p><strong>Finance Colombia:</strong> <strong>Excellent, then you have a good balance between finance and the technical, also for human relations and public relations.</strong></p>
<p><strong>Catalina Restrepo:</strong> When I worked at the Presidency of the Republic, I worked on issues of international cooperation. In the Ministry of Commerce I had the opportunity to work with multilateral organizations, then in all my work experience, I’ve always had my counterparts, and here in the ACI I had all these counterparts in the same job, so that&#8217;s what I do. Make this work fascinating, make sure this work is enriching, that it contributes a lot to myself as a person and as a professional, and it&#8217;s a job&#8230; I say that I have the most beautiful job of all, because here in ACI we work to create good news every day.</p>
<p>If there is a public entity that can offer good news, it’s ACI: Who would complain about the fact that we generate employment? Who can complain about the fact that we improve the capabilities of the citizens&#8217; territory through cooperation? Companies arrive here and demand to make us their base city, to have better human talent, to have more competitiveness, but also these citizens have formal job opportunities, so we show them every day how Medellín has transformed through all those delegations that come from all over the world, to see what happened in Medellín? In the nineties it was a city that nobody wanted to see, the most violent city in the world, to now be today the Medellín of the Fourth Industrial Revolution; that recently <a href="https://www.weforum.org/">the World Economic Forum</a> decided that Medellín is that “focus” for Latin America, it’s the fifth city in the world that has a center of that type, so they ask me what do Tokyo, Mumbai, Beijing, San Francisco and Medellín have in common? I tell them that we are the cities for the Fourth Industrial Revolution.</p>
<p><strong>Finance Colombia:</strong> <strong>It&#8217;s fascinating how Medellín has changed. I remember my first time in Colombia, in 2004, and looking at what Colombia is like now, and specifically Medellín, how the reputation has changed and how Medellin is like the Silicon Valley of South America. There are companies that are migrating from Uruguay, the United States, Europe, and not because it is cheaper—although it is cheaper—but because of the quality of life, because of its human resources, there is human talent, the connectivity that it has. Tell me then: When you arrived at ACI Medellín, the agency was already established, it already has a good reputation because of professionals like Juan Carlos Valencia and his colleagues but sometimes I think it is less of a challenge to change or to fix something that is broken, than taking something that is working and take it to the next level, as you see when you arrived. What are you proud of what you have achieved? You don’t have much time since starting, but what I&#8217;ve seen as a journalist, looking at what&#8217;s happening here, the arrival of more businesses, as there are always announcements of a company that is coming to Medellín, which chose Medellín to grow, then what do you see as your main achievements that you have made as in the last months?</strong></p>
<p><strong>Catalina Restrepo:</strong> Look, Loren, I think that the achievements are immense, and the agency has been founded for seventeen years now. It’s an agency that has been transforming and adjusting to the needs of the city, and has been an agency that has been able to adapt to its changes.</p>
<p>So, one, the agency&#8217;s human team is invaluable, and that&#8217;s the first thing. Two, the great achievements? That last year we worked very hard and we achieved almost all the goals of the development plan, from <a href="https://www.medellincomovamos.org/download/presentacion-plan-de-desarrollo-de-medellin-2016-2019-medellin-cuenta-con-vos-2016/">“Medellín Cuenta con vos 2016-2019.”</a> So, to achieve that in such a short time it&#8217;s not just my issue, it&#8217;s a matter of team commitment and working with the team and for the team, because what is the point for me to do certain things if I don’t know how to give that communication to the team so the results of the agency is everyone&#8217;s? We are a team, we have a great leader who is our mayor, and the mayor is convinced that this is a very important opportunity, and when I say this, this is the daily work of the agency.</p>
<p><a href="https://www.financecolombia.com/wp-content/uploads/2019/08/c-LCM00004.jpg"><img decoding="async" class="wp-image-17644 " src="https://www.financecolombia.com/wp-content/uploads/2019/08/c-LCM00004-583x350.jpg" alt="" width="438" height="263" srcset="https://www.financecolombia.com/wp-content/uploads/2019/08/c-LCM00004-583x350.jpg 583w, https://www.financecolombia.com/wp-content/uploads/2019/08/c-LCM00004-800x480.jpg 800w, https://www.financecolombia.com/wp-content/uploads/2019/08/c-LCM00004-417x250.jpg 417w, https://www.financecolombia.com/wp-content/uploads/2019/08/c-LCM00004-1536x922.jpg 1536w, https://www.financecolombia.com/wp-content/uploads/2019/08/c-LCM00004-768x461.jpg 768w, https://www.financecolombia.com/wp-content/uploads/2019/08/c-LCM00004-750x450.jpg 750w, https://www.financecolombia.com/wp-content/uploads/2019/08/c-LCM00004-200x120.jpg 200w, https://www.financecolombia.com/wp-content/uploads/2019/08/c-LCM00004.jpg 1600w" sizes="(max-width: 438px) 100vw, 438px" /></a></p>
<p>It&#8217;s very important for the economic development of the city, so what have we done? we have focused a little more, we have not tried to do a little bit of everything. What is the focus of 2018? What is the focus of 2019? We&#8217;re doing very well, but let&#8217;s demand more from ourselves because I know we can do better.</p>
<p>So if you see the achievements we have so far, that is, in direct foreign investment, Medellin has today $1.01 billion US dollars as of May 31, and we hope to end December 31, 2019 with almost 1.2 billion dollars. If we compare ourselves with other cities, for example with Barranquilla, Bogotá, with Cali, Medellín is second, it’s supremely well ranked, not in vain last week <a href="https://www.fticonsulting.com/fti-intelligence/energy">FTI Intelligence from Financial Times</a> recognized us as the fourth city globally in strategy.</p>
<p>So the challenges have always been there and it is to demand more because I know we can do more, capitalize on that human talent, focus much more that human talent and work hand in hand with the administration, because although we are a decentralized entity, we are the Mayor of Medellín, we are the Municipality of Medellín, we are the metropolitan area as our name says, so we  work very actively with these actors, with these allies, with the chambers of commerce, with private companies, with universities, which is what has characterized Medellín&#8217;s transformation and keeps transforming and there is a continuity in processes, which is that work between university, company, state. So, if we continue to work together, the results are seen, and this is proof that the results are visible and the impact is much greater.</p>
<p><strong>Finance Colombia:</strong> <strong>If you look for example at the next five years, what do you see? There are some things that are within the control, of ACI, as an agency, but there are also external factors, nobody knows what will happen to the economy, the price of oil, but for what can ACI do? Specifically talking to the world, talking to investors and businesses, what is your vision of the potential that ACI has?</strong></p>
<p><strong>Catalina Restrepo:</strong> I would love it if the ACI had, I don’t know if a department, a space or some professionals, dedicated solely and exclusively to offer cooperation. The ACI and Medellin is now ready. We in our time need the world to transform us, I believe that today, and given the flow of delegations that we receive weekly to learn from Medellin, my dream is that Medellin can begin to deliver that knowledge and those good practices, because what happens? It is not that they are going to be copied verbatim, no, because Medellín has a reality, San José de Costa Rica has another reality.</p>
<p>But if there is something here that has already worked, and can be adapted to San José de Costa Rica, how not to share it with that city? So that this city also grows. So that would seem incredible to me, we have made progress, but it takes a lot of time and it requires people dedicated exclusively to that, then that would be one of my dreams, I would love it if that could be achieved. In other terms also specialize a little more in investment, Medellin has great potential.</p>
<p>If we could have more, if the human team was bigger for the investment issue, which I think is key, because if we compare ourselves today with the different investment promotion agencies in the country, our team is small for the results we have achieved. So I know that with a little more human talent, we can achieve many more things, and I&#8217;m sure the agency will continue to grow, it will continue to transform and will continue to achieve great things for Medellín, and that is all that one wants, starting because we are locals, and we want Medellín to do well, because if Medellín is doing well, we are doing well.</p>
<p><strong>Finance Colombia:</strong> <strong>Yes.</strong></p>
<p><strong>Catalina Restrepo:</strong> As a citizen.</p>
<p><strong>Finance Colombia:</strong> <strong>Talking to investors and business people everywhere, it&#8217;s like Medellín has achieved a lot in the last decades. Medellin largely has already overcome its historical reputation of Medellin 1993 for example, as we talk about figures, crime, welfare or those things, also Medellin has a recent reputation for its talent, for technology. With many software companies and industrial investment companies that have industrial production centers, when you talk to these executives, who may already understand that, they already know &#8220;ah yes, there is technology in Medellin,” Medellin is safe and certainly I won’t be hijacked at the airport or all those risks, but the reality still surprises businesspeople when they come or when you talk to them and you&#8217;re talking about the value of Medellin or offering of Medellin or what is in Medellin, what still surprises those who have not visited? That there are people—there is technical talent, I know it’s already safe, I know I can fly there to three hours from the United States, what is the thing that still surprises you, what is it that you still don’t understand about Medellín, what frustrates you in this process of orientation to the city?</strong></p>
<div id="attachment_17642" style="width: 612px" class="wp-caption alignright"><a href="https://www.financecolombia.com/wp-content/uploads/2019/08/cLCM00013.jpg"><img decoding="async" aria-describedby="caption-attachment-17642" class="wp-image-17642 " src="https://www.financecolombia.com/wp-content/uploads/2019/08/cLCM00013-750x450.jpg" alt="ACI Medellín's Catalina Restrepo with Finance Colombia's Loren Moss" width="602" height="361" srcset="https://www.financecolombia.com/wp-content/uploads/2019/08/cLCM00013-750x450.jpg 750w, https://www.financecolombia.com/wp-content/uploads/2019/08/cLCM00013-800x480.jpg 800w, https://www.financecolombia.com/wp-content/uploads/2019/08/cLCM00013-417x250.jpg 417w, https://www.financecolombia.com/wp-content/uploads/2019/08/cLCM00013-1536x922.jpg 1536w, https://www.financecolombia.com/wp-content/uploads/2019/08/cLCM00013-768x461.jpg 768w, https://www.financecolombia.com/wp-content/uploads/2019/08/cLCM00013-200x120.jpg 200w, https://www.financecolombia.com/wp-content/uploads/2019/08/cLCM00013-583x350.jpg 583w, https://www.financecolombia.com/wp-content/uploads/2019/08/cLCM00013-820x492.jpg 820w, https://www.financecolombia.com/wp-content/uploads/2019/08/cLCM00013.jpg 1600w" sizes="(max-width: 602px) 100vw, 602px" /></a><p id="caption-attachment-17642" class="wp-caption-text">ACI Medellín&#8217;s Catalina Restrepo with Finance Colombia&#8217;s Loren Moss</p></div>
<p><strong>Catalina Restrepo:</strong> More than frustrating me, I am also surprised, because every time we are in the streets or every time a delegation arrives here, and right now for example I am quite surprised with the World Mayors Summit, which we had from July 10 to July 12, where had mayors from the other side of the world, I&#8217;m talking about Asia, Indonesia, China, which are very far from Medellín, we don’t speak the same language, and they know us know very well, so it’s something that is very surprising, because I say, what is it? What did we do well? That they know us, but what are we not doing so well for everyone to recognize the capabilities, because, many times when they arrive here, some make the first contact, they still have that doubt, about Medellín being the right decision: “is it?” “Could it be that they are just talking a lot of chatter?” It&#8217;s like that disbelief because it&#8217;s very difficult to go from being the ugly girlfriend to being the girlfriend that everyone wants to have, that&#8217;s what happens with Medellin, and I tell you Loren, we&#8217;ve come a long way, but we lack immensely.</p>
<p><strong>Finance Colombia:</strong> <strong>Yes.</strong></p>
<p><strong>Catalina Restrepo:</strong> We lack immensely, we can’t fall into the trap that “yes, Medellín is the best” no. Medellín is the best for us who love it very much, but we all have challenges, we all have to learn, so let&#8217;s say that it&#8217;s still surprising, that when they come here they come as with &#8220;could it be? Is it not?&#8221; And when they get to know they say “oh well, yes!&#8221; already convinced, yes it&#8217;s true and when you walk in the streets, when you talk to people, because, talking is our job.</p>
<p>It&#8217;s our job, but to hear people say how it has been transformed, how they have seen the positive impact of investment, cooperation, work, administration, it’s another story, because people are honest and the people I could say something &#8220;that doesn’t work”, “I love that&#8221; and understand that process, how it benefits our work to each citizen on foot, that is what still surprises me, and I hope it doesn’t stop surprising me, because the day I stop being surprised, then the work has lost its meaning.</p>
<p><strong>Finance Colombia:</strong> <strong>Yes, yes. Thank you very much for your time.</strong></p>
<p><strong>Catalina Restrepo:</strong> No Loren, to you, thanks to you.</p>
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		<title>Guest Analysis: Both Investors and patients Flocking to Colombia&#8217;s Clinics and Hospitals</title>
		<link>https://www.financecolombia.com/guest-analysis-both-investors-and-patients-flocking-to-colombias-clinics-and-hospitals/</link>
		
		<dc:creator><![CDATA[Renée-Marie Stephano, JD]]></dc:creator>
		<pubDate>Wed, 08 Jul 2015 16:37:48 +0000</pubDate>
				<category><![CDATA[Food, Health & Agriculture]]></category>
		<category><![CDATA[antioquia]]></category>
		<category><![CDATA[bogotá]]></category>
		<category><![CDATA[bucaramanga]]></category>
		<category><![CDATA[cartagena]]></category>
		<category><![CDATA[centro medico imbanaco]]></category>
		<category><![CDATA[clinica leon]]></category>
		<category><![CDATA[colombia]]></category>
		<category><![CDATA[edward janssen]]></category>
		<category><![CDATA[interventional concepts]]></category>
		<category><![CDATA[johns hopkins]]></category>
		<category><![CDATA[kansas]]></category>
		<category><![CDATA[magical realism]]></category>
		<category><![CDATA[maria maldonado]]></category>
		<category><![CDATA[medellin]]></category>
		<category><![CDATA[medellin health city]]></category>
		<category><![CDATA[medical tourism]]></category>
		<category><![CDATA[minnesota]]></category>
		<category><![CDATA[piedecuesta]]></category>
		<category><![CDATA[puerta de las americas]]></category>
		<category><![CDATA[trip4care]]></category>
		<category><![CDATA[universidad de antioquia]]></category>
		<category><![CDATA[university]]></category>
		<category><![CDATA[university of pittsburgh]]></category>
		<category><![CDATA[xiii]]></category>
		<guid isPermaLink="false">https://www.financecolombia.com/?p=5846</guid>

					<description><![CDATA[Surgery sounded like it was going cost Edward Janssen an arm and a leg. Even though he had medical insurance, his deductible created out-of-pocket expenses that would force the 58-year-old construction worker from Kansas to go to great pains to come up with the $80,000 to pay for a double knee repla...]]></description>
										<content:encoded><![CDATA[<p><strong>Surgery sounded like it was going cost Edward Janssen an arm and a leg.</strong></p>
<p>Even though he had medical insurance, his deductible created out-of-pocket expenses that would force the 58-year-old construction worker from Kansas to go to great pains to come up with the $80,000 to pay for a double knee replacement procedure at a local hospital in the United States. So he figured, until he learned from a medical tourism company that a trip to Colombia for his surgery would save him close to $15,000—airfare and lodging included—and afford him the opportunity to see a country he had never visited before.</p>
<p>Healthcare consumers, particularly those in Latin America, the United States and Canada, looking for medical tourism procedures are finding Colombia to be well within their comfort zones. Yes, a country once tarnished by a reputation for drugs and violence, has shed its controversial image and undergone a massive social and economic transformation to become a darling for Latin American trade.</p>
<blockquote><p>Five of the top 30 hospitals in Latin America are in this city of some 2.5 million residents and Medellin’s proximity to the United States and Canada has North Americans eyeing procedures that can cost much less than the cost of those offered at home, but with comparable quality.</p></blockquote>
<p>Astute financiers have not let this transformation go unnoticed. Investors are taking advantage of opportunities in new health- and wellness-based real estate projects and free trade zones to create a bold new sector that merges healthcare, hospitality and retirement living to generate revenue.</p>
<p>The notion that Colombia would be a burgeoning hub for anything beyond coffee– much less medical tourism &#8212; would have once seemed far-fetched. But, affordable pricing packaged with high-quality care is encouraging prospective patients to “Feel the Difference” In Colombia and attracting investors from all over the world to form medical tourism partnerships from Cali to Bogota and Medellin to Bucaramanga.</p>
<p>Groundbreaking urban planning and public transportation systems have done a great deal to sway skepticism both at home and abroad. So, too, have cold-hard facts: Colombia, the third-largest economy in Latin America after Mexico and Brazil, is growing steadily at almost 5 percent annually, comfortably above a 3 percent national inflation rate.</p>
<p>Urban areas speak to Colombia’s nearly <a href="https://www.cia.gov/library/publications/the-world-factbook/geos/co.html">47 million</a> inhabitants and the country’s economic rebound. Cable cars integrate tens of thousands of people each day from the poorer communities of Medellin where narrow hillsides are too steep for buses or cars to their modern metro system that reaches downtown employment, commerce, education, and healthcare.</p>
<p>At <a href="https://www.medellinhealthcity.com/">Medellin Health City</a>, a cluster of local providers translate internationally accredited hospitals into a unique selling point that attracts foreign investors seeking healthcare services. The improved infrastructure along with enhanced patient services that these hospitals, surgical centers and dental clinics provide is not lost on local populations or the increasing interest of insurance agents and brokers, consulting firms and employers who seek to offer quality offshore options to their insureds and employees.</p>
<p>Word is spreading well north of the equator. <a href="https://online.wsj.com/ad/cityoftheyear">Wall Street Journal Magazine</a>, Citi Bank and the Urban Land Institute combined to call Medellin the most innovative city in the world. Without diminishing from the construction of new public libraries, parks, and schools, healthcare stands worthy of merit. Five of the top 30 hospitals in Latin America are in this city of some 2.5 million residents and Medellin’s proximity to the United States and Canada has North Americans eyeing procedures that can cost much less than the cost of those offered at home, but with comparable quality.</p>
<p><strong>Epiphany</strong></p>
<p>For Sharon Burke, the “epiphany” that she could travel from her home near New Brunswick to Colombia for immediate orthopedic surgery was a far cry from the three-year trek she was told to expect through Canada’s cumbersome national healthcare system. With the help of a friend in the airline industry, Burke opted instead for the six-hour flight to Medellin, where doctors removed a small cyst and bone fragments from her knee. Another procedure realigned her knee cap with her tibia. Burke said the four-hour surgery, six-day hospital stay and month-long apartment rental in the nearby rehabilitation center cost under $6,000. She says her pain is gone and she has no regrets.</p>
<p>Patients from Spain, Germany, Venezuela and the Caribbean have also come to recognize the advantages of medical tourism procedures in Colombia and the low costs and qualified surgeons involved in their care &#8212; from oncology and cardiology to neurology and orthopedics, according to the <a href="https://www.healthcareresearchcenter.org/medical-tourism-index/">Medical Tourism Index</a>, which ranked the nation among the top international medical tourism destinations in 2014.</p>
<p><a href="https://www.procolombia.co/en">ProColombia (formerly ProExport),</a> a government agency charged with promoting foreign trade, points to a reversal in safety perceptions and alliances between government and private enterprise for elevating medical tourism revenue by some 61 percent, from $134 million in 2012 to $216 million a year later.</p>
<p>In accordance with that growth, new hospitals and clinics are sprouting up across the country, many with affiliations to big-name healthcare facilities in the United States including Johns Hopkins and, most recently, the <a href="https://www.upmc.com/media/NewsReleases/2015/Pages/fcv-colombia-agreement.aspx">University of Pittsburgh</a>, which announced a 10-year agreement with the Cardiovascular Foundation of Colombia in Bucaramanga to develop and help manage an oncology center for adults and children. The opening scheduled for next year at the Hospital International de Colombia in Piedecuesta will mark the first international private oncology program in Colombia, a nation expected to experience nearly 80,000 new cases of cancer this year; a number feared to grow to 113,000 cases annually in the next 10 years.</p>
<p><strong>Free Trade Zones</strong></p>
<p>This type of investment is consistent with cross-border accords, such as the agreement between Proexport and <a href="https://interventionalconcepts.net/">Interventional Concepts, Inc.</a>, a leading development firm in Miami, Fla., that hopes to position Colombia &#8212; South Florida’s second-most important trade partner, behind only Brazil &#8212; as a premiere destination to conduct clinical trials for innovative medical technologies and pharmaceutical companies around the world.</p>
<p>Return on investment can become a tantalizing infatuation of sorts for any healthcare startup looking to make its mark in new surroundings. Medical tourism, envious of analogous groups found in hospitality and travel, is not immune to the preoccupation. Far too often, entrepreneurs—ambitious; yet, new to the industry or with little understanding of it—will squander resources on flashy internet marketing tools to build patient portfolios and rubber-stamp their expenditures. In the meantime, they wait for electronic responses or word-of-mouth referrals that never materialize. The larger opportunity exists through a two-pronged approach. The trick is to target local consumers at the onset, but build heavily on research-based strategies that identify diverse business-to-business opportunities to secure sustainable long-term growth.</p>
<p>Economic free trade zones, designed to attract foreign investment directly to Colombia, is one option worthy of pursuit. Puerta de las Americas Zona Franca, a “megaproject” underway on the northern coast of Colombia in Cartagena already sports a 40-bed hospital. The complex is planned to grow to 200 beds and feature a five-star hotel, restaurants and, eventually, retirement living to attract not only a local senior population, but foreigners seeking quality healthcare in their final place of residence.</p>
<p><strong>Continuing Education </strong></p>
<p>Changing healthcare dynamics will also enable Colombia to compete for top doctors and clinicians, some who have trained in the United States and Europe, but will instead be attracted to return home and research at these startup sites or answer to diverse and emerging opportunities, such as treating  <a href="https://colombiareports.com/colombia-boasts-high-ratings-private-hospitals-bid-attract-medical-tourists/">50,000 foreign patients annually</a> at some <a href="https://hospitals.webometrics.info/en/Latin_America/Colombia">75</a> medical facilities across the country.</p>
<p>Michael Losack, is an exception, of sorts to this recruitment strategy. The Harvard Medical School student chose to train for two months in the emergency room at <a href="https://www.ipsuniversitaria.com.co/index.php/medellin/clinica-leon-xiii/sede-clinica-leon-xiii.html">Clinica León XIII</a>, which is enjoying a massive revitalization since consolidating with the <a href="https://www.udea.edu.co/wps/portal/udea/web/inicio/!ut/p/z1/hY7LDoIwEEW_hQVbOiCY6q5BXCAKJhixGwOmFkyhpCD8vo0aExMfs5u5554MoihDtMmHiud9JZtc6P1Ap0c88x2buBBhwEsg2zQK3N0aIPbQ_h9AdQxfhoDu0zvyMsDK9rQhSDZp7CeL0HkCPxwholzI4vEuaYoJ5ogqdmaKKeuq9Lns-7abm2DCOI4Wl5ILZp1kb">University of Antioquia</a>. The 28-year-old American calls the practical patient experience he gained invaluable, but if he decides to return to Clinica León XIII after his required academic work is completed in the United States, he may learn that continuing education is essential.</p>
<p>Training  and certification programs are sprouting up around the world in convenient and supportive locations including Colombia to encourage healthcare specialists who are passionate in professional development and interested in current information about medical tourism, corporate wellness and health destinations to learn about successful case studies, industry best-practices and product and service innovations.</p>
<p><strong>Magical Realism</strong></p>
<p>After establishing a medical tourism program in 2010, patient volume increased by 45 percent at <a href="https://www.medellinhealthcity.com/">Medellin Health City</a>, an alliance backed by the Mayor’s Office, Chamber of Commerce, University of Antioquia, and the Medical Tourism Association. Shortly thereafter and in anticipation of an even greater influx of international patients, 40 Medellin staffers took part in service development training to build up their industry knowledge and to understand the expectations of buyers of services.</p>
<p>They now know that not only a thorough understanding in the management of international patients, but a little kindness as well can make or break a medical tourism experience and become an imperative asset when competing for healthcare dollars against nearby Latin America countries including Brazil, the Dominican Republic, and Mexico. Continuing education and accreditation will continue to be at the crux of any service development strategy for Medellin Health City and the growing list of medical tourism players looking to accelerate patient recruitment to Columbia and generate the revenue that comes with it.</p>
<p>But, patient experiences can’t be measured in volume and statistics, alone. Maria Maldonado, a former associate at an international manufacturer of medical devices, was well aware of this pretention. She had already complimented her MBA with medical tourism certification after she joined Trip4Care, a Minnesota-based healthcare company. When Edward Janssen approached her about his aching knees and, more pressing, the financial dilemma he faced toward treatment, Maldonado was well-prepared to address the principles that drive medical tourism decisions.</p>
<p>“He was interested in Latin America, but was not keen on any particular destination,” said Maldonado. “We called three orthopedic surgeons within our network and ended up choosing <a href="https://www.imbanaco.com/">Centro Médico Imbanaco</a>, in Cali, Colombia—not because the procedure was less expensive, but because it would be a great opportunity to experience something he had never seen before.”</p>
<p>Now home in Kansas, with two good knees, at that, Janssen can attest to his medical destination’s latest slogan: When it comes to medical tourism, “Colombia is Magical Realism.”</p>
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