Colombia Real Estate gets its share of Investor’s Attention

Bogota, Colombia - August 30, 2010 -- International Real Estate Listings.com was keenly watching and analyzing the real estate in Colombia for the last two decades. With the internecine wars between cocaine smugglers and the government coming to an end and the growth rate of Colombia being quite impressive, International Real Estate Listings.com decided to launch a separate website to assist the Colombia property owners, real estate agents, and developers in selling, renting, or exchanging their properties in the Colombian and international real estate markets. It came as no surprise that the Colombia real estate stakeholders responded immediately in large numbers to utilize the golden opportunity provided by the new website. They have been opening accounts and posted multiple listings of properties to get local and international exposure for profitable deals without the hassle of middlemen.

The Republic of Colombia is situated in the northwestern region of South America. Colombia is the second largest country in South American after Brazil and the fourth largest in Latin America in economic terms. Bogota is the capital of the country and the official language is Spanish. Official data reveal that around 46% of the population has been estimated to live below poverty line, with about 17% classified as extremely poor. Still, the recent economic growth of Colombia has been quite impressive, with the rate rising to 8.2% in 2007. The growth rate has been among the highest in Latin American countries. The frequent wars between the government and the cocaine warlords have been discouraging tourists and foreign investors for several decades but the situation has changed at present. In 2006, Lonely Planet ranked Colombia among the top ten tourist destinations in the world. The ecotourism industry has been thriving enormously in recent times, providing indirect boost to the Colombian real estate market development and international real estate investment in Colombia.

The analysis of the Colombian real estate market was done by the veteran international real estate specialist, Mr. Taylor White, PHD, who has create, a global platform to bring together property holders, developers, agents, and international real estate investors together. His aim was to cut across the linguistic, economic, and cultural barriers between various countries and facilitate real estate transactions across borders. During our discussion with him, Mr. White stressed that the launch of the new website for Colombia was an important stride in his efforts to integrate the global real estate industry. He revealed the major features of the website in promoting Colombia real estate listings, Colombia real estate for sale, Colombia rentals, and enabling international property transactions and exchanges.

Can it Get Any Hotter in Colombia? Convergys Commits to Bogota

Nearshore Americas has learned that global contact center giant Convergys, which serves half of the Fortune 50, is setting up a BPO service center in Bogota after receiving clearance to operate in a new free trade zone in the northern part of Bogota.
As many as 2,500 seats will occupied at the center within three years, according to two reliable sources. The center, which should be operational in June, will also offer financial back-office support services.
Colombia is without question one of the hottest outsourcing destinations in Latin America, and its transformation has been one of the biggest stories to hit the headlines in the Nearshore community in the last several months.
Convergys spokesperson John Pratt declined to comment late today on our report.
“This does not come as a surprise, really,” says lead BPO and call center analyst Peter Ryan, of DataMonitor, commenting on the development. “There is a lot of capacity in Colombia and the country has the potential to become the next big thing in South America,” said Ryan, comparing its rise to Chile and Argentina, which have become globally recognized outsourcing centers.
Pace of Growth: A Critical Question
Another major global BPO player to jump into the Colombian market is Teleperformance, which recently acquired Teledatos, which generated about $75 million in 2009. Teledatos operates six delivery centers in Bogotá and Medellín, employing over 5,000 workers.
The big question facing Colombia over the near term is whether BPO growth will come as a deluge or grow incrementally. If there is a huge spike in demand for call center services, for example, Ryan says this could trigger inflationary wages pressures. “It would be better if the growth is spread over the next 24 months,” he says.
The other question confronting the growing Colombia BPO sector is whether cities such as Medellin and Cartegna will be able to produce sufficient quantities of bi-lingual workers, says Ryan.
Convergys Retrofits
Convergys recently downsized in Canada, cutting over 800 workers, and shuttling those positions reportedly to the Philippines. The Cincinnati-based company says it expects to hire at least six thousand employees this year in the Philippines. The company employs over 20,000 workers in 12 sites in the Philippines.
Finally, Convergys also landed recently in Gartner’s Magic Quandrant, recognized for its service delivery in the CRM/Contact Center space.
“We believe that Convergys’ position in the Leaders quadrant for CRM Contact Center BPO providers is a positive validation of our leadership, execution abilities, and investments in our customer solutions portfolio. Our solutions, which include agent-assisted care, automation, self-service, and analytic services, enable our clients to stand ahead of their competitors based on the quality and consistency of the customer experiences we help them provide, and the customer intelligence we bring to them.” said Andrea Ayers, President, Customer Management, Convergys.

Source: Newsweek by KIRK LAUGHLIN.
http://bx.businessweek.com/global-outsourcing/view?url=http%3A%2F%2Fwww.nearshoreamericas.com%2Fexclusive-hotter-in-colombia-convergys-commits-to-bogota%2F2412%2F

JW Marriot opens luxury hotel in Bogota

As Colombia prepares for the inauguration of a new President and the Uribe Era comes to and end, major hotel brands continue to arrive to the country. This week JW Marriot opened for the first time in Bogota, Colombia.
Improved security, the dynamic economy and tax breaks for the industry are attracting the major international hotel chains that for decades shied away from Colombia. investors for the first time believe that Colombia is the place to be and the proof is on the creation of around 4500 new hotels rooms just in 2010. Hotel Brands like Hilton, Sonesta, Intercontinental, Marriot, Hyatt, Holiday Inn and many others currently have projects in cities like Medellin, Cartagena and Bogota.

The last eight years under the Government of President Uribe the amount of tourist that visit Colombia increased by 500%, just in 2009 along Colombia grew 17% in the amount of foreign visitors, making it the only country in Latin America that showed grow in this area during a global recession.

The dynamism of Colombia's economy, fueled by the boom in natural resources including coal, petroleum and coffee, is luring more business travelers. A special 20-year income tax exemption for new hotels that Colombia approved to counter the effect of the global financial crisis has been an important incentive.

To learn more about Colombia visit www.colombia.travel or www.investincolombia.com