Best Buy pestel- Colombia

Topics: Macroeconomics, Colombia, Employment Pages: 4 (829 words) Published: March 25, 2014

Since 1990 Colombia has been promoted strategies to attract international investment. Actually, there is an enable regulation for external capital, privatization policy and labor market flexibility. The regulatory system of Colombia is mix because of the interrelation of public/private law and national and international law. Policies focused on same treatment to national and international investors. At the same time Colombia allows investing in almost all the economy sectors with not previous authorization. The government has implemented a policy of Negotiation of International Agreements for the Promotion and Reciprocal Protection of Investments (BITs) and Free Trade Agreements (FTAs) with investment chapters and Double Taxation Agreements (ADTs). Economical:

Colombia is the third largest economy in Latin America
PIB: US$347.000 million.
PIB per cápita: US$10.000
Household consumption: U.S. $ 225,550 which has expanded at a rate of 4% during the last year. Unemployment rate: 7.8%
Flow of Foreign Direct Investment (FDI): U.S $15.171 million. Free Trade Agreements: TLC Canada, TLC European Union, TLC United States Macroeconomic stability reflected on:
1. Persistent economic growth above the regional average.
2. Stable inflation and interest rate.

Colombia is a democratic society
Religion: 92% of the population professes Catholicism or are registered as Catholics. The labor force is one of the most qualified managerial and operational levels. The literacy rate is among the highest in Latin America.

Consumption habits:
Colombians purchase of necessity during the first part of the year. By May, when Mother´s Day and Father´s Day arrive, followed by Love and Friendship day consumption starts to be more motivated by taste. Colombians purchase in time of celebrations as degrees, first communions, birthdays and anniversaries which occur mostly in the second half of the year. Colombia's workforce is competitive in terms...

Bibliography: Banco de la Republica. (2012). Inversión extranjera en Colombia: Evolución reciente y marco normativo. Borradores de Economia(713), 1-56.
Dinero. (2014). Colombia, la tercera economía en Latinoamérica. Dinero.
Portafolio. (2014). Medio ambiente, riqueza que Colombia debe proteger. Portafolio.
Proexport. (2014). Proexport Colombia. Recuperado el 14 de Marzo de 2014, de Guía Legal para hacer negocios en Colombia:
Semana. (2013). Un buen año para la economía. Semana.
Universidad de Rosario. (2013). Tendencias actuales de la inversión extranjera en Colombia. Universidad Ciencia y Desarrollo, Programa de diculgación científica, 11, 2-7.
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