Colombia offers an energetic and sometimes complex business environment for Swedish companies. The two countries have strong economic ties that go back nearly 130 years, when the Stockholm-based multinational Ericsson provided Colombia’s first telephones.
This report constitutes the first edition of the Business Climate Survey of Swedish companies operating in Colombia and provides a valuable baseline for future assessments. While 47 per cent of respondents described current economic conditions in Colombia as neither positive nor negative, 64 per cent reported that 2024 was profitable for their companies, nearly the same amount expect higher turnover in the next 12 months.
The strong performances and optimistic expectations of Swedish companies in Colombia correlate with signs of the country’s strengthening economy. The growth of Colombia’s GDP is projected to accelerate to three per cent in 2026, which would pass the expected average for the region and create new opportunities.
Most respondent see clear value in being identified with the ‘Swedish brand’ and a strong majority believe that it contributes positively to their business in the Colombian market, from partially to very much. Many companies indicate that Swedish origin is perceived as a mark of quality, reliability, and trust in Colombia. Yet brand awareness and sales competence are reported as the primary factors for success in the market.
Swedish companies in Colombia report that environmental concerns are present in purchasing decisions, though not across the board. These results suggest that while consumers and potential partners are increasingly aware of sustainability, it tends to be less important than factors like price, product availability, or brand familiarity. This is likely due to general market conditions and the absence of clear standards to guide environmentally responsible choices.
Want to read a full overview of the survey results with detailed analysis? Download the report today.
ABOUT THE SURVEY
Team Sweden conducts annual Business Climate Surveys in markets around the world to gain a deeper understanding of the experiences and perspectives of Swedish companies operating abroad. This first-ever Business Climate Survey for Colombia was conducted with the participation of 39 Swedish companies active in the Colombian market. The respondents represent a diverse range of sectors and sizes.
We sincerely thank all participants for their valuable insights, which have been instrumental in shedding light on how Swedish firms view the local business environment and current market conditions, as well as highlighting opportunities and challenges. Team Sweden in Colombia – consisting of the Embassy of Sweden and Business Sweden in Colombia – works to strengthen Sweden’s presence and promote Swedish industry and economic interests. We hope this report enhances Sweden’s visibility and supports Swedish companies already active in Colombia as well as those considering entry or expansion into the Colombian market.
