Something’s afoot in Colombia, says Michael Economides, and it all seems quite good.
Yes, the FARC insurgency is still a challenge. There are plenty of barriers to the government providing security and a favorable climate for development everywhere.
But after seven years of leadership under Harvard-educated Alvaro Uribe, Economides says the country’s rebound is providing a strong contrast to declining Venezuela.
The airport is clean, well organized and modernized; taxis are plentiful and run quite efficiently and honestly; hotels and restaurants are thriving and bustling. The people seem to be a lot happier than my earlier visits several years ago. The contrasts with Venezuela are palpable.
International observers have also noticed Colombia. In the latest Economic Freedom Index, a clear indication of attractiveness for foreign investors, Colombia ranks just behind outlier Chile among major South American countries, higher than Brazil and sharply-declining Argentina. Venezuela is a basket case, languishing at number 174 out of 179 ranked countries.