Trying to decide where in LATAM to do business? We recommend looking at Colombia, especially if you are in the creative industry!
The Colombian economy has boomed in recent years and is currently the fourth-largest economy in LATAM.
One of the main reasons for this is because of Colombia’s Orange Economy.
We have an entire report dedicated to the important insights on the Orange Economy that you can check out!
But for now, we will give you just a small look into what’s in that report.
Ready to learn some important information about one of the fastest-growing sectors in Colombia? Let’s jump in!
Origin of the Orange Economy
The Orange Economy is the creative economy in Colombia. It merges different creative sectors to create products of artistic or cultural significance.
The Orange Economy came to be when the Colombian government realized the importance of creativity for the country. As a result, they created more projects and initiatives to influence people to use their creativity.
In addition, the Colombian Bank Bancoldex wanted to fund the expansion of creativity because of its importance. Bancoldex then created ‘Orange Bonds’.
Orange Bonds were created to give money to those who were trying to get into the Orange Economy and are very valuable.
They are so valuable that on Auction Day, more than 300 investors were bidding on more than $120 million worth of bonds!
Drivers of the Orange Economy
Since it was created, the Orange Economy has contributed over $11 billion to Colombia’s economy! Here are a few of the main drivers that have allowed the Orange Economy to boom:
- Harness Creative Industries to Create More
- Provide Better Rights of Ownership
- Increase of Digital Technology
Each of these factors has created a unique situation that allowed this economy to grow.
To go more in-depth on how these factors have contributed to the rapid growth of the Orange Economy, check our full Orange Economy Report!
Market Outlook and Growth
The Orange Economy is expected to continue to growing.
Wondering what areas within the creative industry are expected to grow? We will tell you just a few right now!
- Platform Cooperativism
- Empowering Women in Tech
- Artists as First Responders
- Amplified Culture and Landscapes
The Orange Economy has potential to grow in all parts of Colombia, but has especially immense potential in Bogotá, Colombia’s capital.
There are even plans to build an “Orange District” in the center of Bogotá. This district will be an area of commerce, cultural exhibition, renovation, and art creation!
Get the Full Orange Economy Report
Found what you read about the Orange Economy interesting? Well, there’s a lot more you can learn!
This information is just a sneak peek, so be sure to check out our Orange Economy Report for full insight into this rapidly growing sector!
Orange Economy sounding like something you want to get in on? To learn more or get started, contact us at Colibri Content!