About Colombia

Welcome to Colombia, a tropical country of incredible diversity and charm. Its ever-changing geography, a history loaded with mystery and adventure, its people and cultures, have fascinated the world for centuries.

Although its excellent coffee and the purity of its emeralds have made the country famous, Colombia is also the homeland of the El Dorado legend and the magical universe of Garcia Marquez’s Macondo.If you still have not been here, you can browse our portal and realize how much you have been missing. Coming to Colombia is discovering a completely new world.

Economy of Colombia: Indicators and Report

The Colombian Economy has been growing at high rates during the last decade, due to the confidence and business opportunities that the investors have found in this emerging market. Nowadays, foreign investors see Colombia as an emerging destination for secure investment.

This section provides statistics on the Colombian Economy and a complete analysis of the current situation of Foreign Direct Investment in Colombia.

Local time

Time in Colombia is based on Greenwich Mean Time with a difference of five or six hours, depending on the season. When it is 12 noon in Colombia, in London it is 5pm, in Madrid 6pm, in New York 12 noon and in Los Angeles 9am. In summer the difference increases one hour.

Geographical location

Colombia lies between latitudes 4º south and 12º north, and between 67º and 79º longitude west. It is an equatorial country whose climatic variations are determined by trade winds, humidity and especially by altitude: the higher up you go, the colder it is. Please consider this information when you travel to Colombia.

There are only two seasons, and virtually throughout the country there are two rainy periods – from April to June and from August to November – and two dry periods. However, the country enjoys constant luminosity throughout the year, with an equal number of daylight and nighttime hours.

Currency

The official currency of Colombia is the peso ($). Entering or taking out money, in this denomination or in any other, is restricted and should be declared on entering or leaving the country.

Currency exchange

The exchange of foreign currency should be made exclusively in hotels, banks and bureaux de change, never on the street. The exchange rate fluctuates from day to day and has the U.S. dollar as the official reference rate, which is also the currency most used in the market. Payment is made on the basis of the official daily rate, after discounting commissions and services, which vary between 2 and 3%. Estimated exchange rate: $1,oo USD= COP $1,900.oo.

Cash points

The capital cities of the country have an extensive network of cash points. The majority are in service 24 hours and provide the option of the English language. The transactions generally permitted are: credit/debit balance, withdrawals, transfers and cash advances. Avoid giving the card to strangers or revealing your personal PIN code. Cash points are strategically located, particularly on thoroughfares and in shopping malls. Some, such as Cirrus, Visa and Master Card, permit international debit and credit transactions.

Debit cards

The larger stores and shops, supermarkets, and higher-class hotels and restaurants accept such cards.

Credit cards

The majority of hotels, restaurants and commercial establishments accept international credit cards. The most frequent are Visa and Master Card. Only some places accept American Express and Diners Club.

Traveler’s checks

Before acquiring them in the country of origin, it is advisable to check on the existence of representations or branches in Colombia. The traveler’s checks most used are those of American Express and Citicorp. In the more exclusive hotels you can make payments with them but they are not commonly used in commercial establishments.