Colombia  

The amount of physical capital available to Colombian workers is below the global average, placing the country 72nd out of 104 countries. Furthermore, a high unemployment rate of 11% and a moderate inflation rate do not bode well for the Colombian economy. Colombia’s domestic savings rate of 20% places the country 61st on this variable. With 3.2% of loans defaulting and an interest margin of almost 5.5 percentage points, the banking sector appears weak and slightly inefficient. Colombia’s terms of trade are also moderately weak, with the country ranking at 68 on this variable. However, with a household expenditure equivalent to a quarter of GDP, domestic demand creates a sizeable market for Colombian firms. Foreign direct investment as a percentage of GDP is only 4%, reflecting the country’s weak ability to attract foreign investment.

Even though Colombia has high barriers to entry, requiring 13 formal procedures for business start-up, the number of new businesses per year is high with more than 26,000 registered, as reported in 2007. Value added in service industries is average in Colombia, ranking 69th out of 104 countries. Internet infrastructure is mixed as Colombia ranks high in terms of its internet bandwidth, while the number of secure internet servers is relatively low. The country does not have a significant high-tech sector, with the ICT export share of exported goods at 0.34%, while the high-tech export share is 4%, placing this country in the top 70 worldwide. However, Colombians have very limited access to personal computers, with only 55 per 1,000 people, as well as very low R&D expenditure, at 0.3% of GDP. Conversely, Colombia benefits from a moderate level of royalty receipts, ranking the country 50th for this variable.

Colombian citizens enjoy high levels of political and civil rights illustrated by freedom to participate in political processes and express beliefs and ideas without fear for their personal security. Furthermore, Colombia is a democratic country, characterised by highly regulated executive elections and political competition among rival parties. However, Colombia lacks a fully dependent judicial system, and there are very few checks and balances set in place to prevent arbitrary decision making by the chief executive. Colombia also benefits from competition among political parties in the legislative branch. Additionally, the country has a relatively stable regime, with the last change having occurred more than 50 years ago, placing Colombia 24th out of 104 countries on this variable.

Colombia has average levels of primary, secondary, and tertiary enrolment at 88%, 82% and 31%, respectively, ranking the country just below average on all three variables. With 28 primary students per teacher, Colombia ranks 76th in terms of class size. There is a very high ratio of female to male enrolment in education, with 104 girls for every 100 boys. The Colombian workforce is reasonably well educated, but also imbalanced; workers have below average years of secondary education and a high level of tertiary education, placing the country 76th and 33rd, respectively. On a per student basis, Colombia’s expenditure per student at both primary and secondary levels is extremely low at roughly $1,500.

Colombia has an average number of doctors and nurses per capita at 14 per 10,000 people and has sanitation facilities of moderate quality. The quality of water is better in Colombia, with 77% of people reporting satisfied.* At 62 years, health-adjusted life expectancy in Colombia is moderately high, placing Colombia 50th out of 104 countries. Infant mortality rates are also average, putting Colombia just outside the top 50 countries. Colombia performs poorly when rated on the availability of hospital beds, at 12 per 10,000 people, and the percentage of undernourished individuals is 13%. Despite a lack of adequate healthcare facilities, an astonishing 87% are satisfied with their health while three-quarters of respondents report being well rested.* Further, only one in five respondents report health problems and 28% report having experienced pain recently.*

Colombia faces severe problems related to refugees and internally displaced individuals, ranking the country extremely low at 100th out of 104 countries on this variable. It also has a legacy of group discrimination or other grievances, ranking the country at 76th. In addition, human flight from dangerous or degrading conditions is highly prevalent, ranking the country at 99 out of 104 countries. Insecurity in terms of state-sponsored violence and torture is also an extreme problem, placing Colombia in the bottom five countries. The country also suffers from extremely high casualties due to civil and ethnic unrest as well as an extremely high homicide rate, at 53 homicides per 100,000 capita per year, ranking Colombia third bottom on this variable. With only 53% of respondents reporting they feel safe walking alone at night, safety is also a concern in Colombia.* Approximately one in five respondents reported having their property stolen and one in 10 reported being assaulted, placing Colombia in the bottom 20 with respect to these variables.*

The extent to which citizens in Colombia respect property rights, the police, and the rule of law is low, and the policy and institutional framework of government is poorly developed. However, the quality of economic and commercial regulation is near the global average. A confidence level of 63% amongst respondents indicates relatively low confidence in the military, and although Colombian citizens enjoy freedom of political participation, perceptions of corruption run high, with 80% of respondents thinking the government is corrupt and 82% expressing concern about business corruption.* Even though Colombia is rated as a nation with free and fair elections, only 41% of respondents are confident in the courts and judiciary system and a comparatively low 29% believe in the honesty of elections.*

Freedom of movement, religion, and speech is ranked high in Colombia, placing the country 40th out of 104 countries. Tolerance is moderate, with 66% of respondents believing that Colombia is a good place for ethnic minorities, and roughly 62% believing it is a good place for immigrants.* Four out of five Colombians are satisfied with their freedom of choice, placing Colombia in the top 40 on this variable.*

General social capital variables in Colombia rate quite poorly. Membership of neighbourhood associations is low amongst Colombians.* While there is an average level of religious participation with 49% of respondents being affiliated with a religious organisation, there are very low levels of sport, art and environmental clubs members.* Additionally, the degree of generalised social trust between people is very low, though contrastingly 89% of respondents believe they can rely on friends and family.* Only 26% of respondents have donated money yet as many as 62% have helped strangers.* The volunteering rate in Colombia is also low, placing the country in 49th place for this variable.* Colombian citizens report high levels of religious practice, ranking Colombia 40th on this factor.*

* Data taken from the Gallup World Poll

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