Education opportunities in Colombia
Published 27 October 2014
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1. Market potential
The Colombian education and training market has been identified as a high value education opportunity (HVO) for the UK owing to:
- Significant potential for future business – accessible value to the UK in excess of £100 million
- Opportunities existing across a range of sub-sectors – including vocational education and training, internationally-recognised qualifications, teacher training and English language training (ELT)
2. Large-scale education and training opportunities in 2015/16
The Colombian education HVO incorporates a number of potential business opportunities for UK education and training providers, including:
1) ELT provision – developing capability in English language is a key issue for many national, state and city education bodies in Colombia, with several specific initiatives that offer opportunities
2) Vocational education and training – employers in Colombia and looking for higher levels of technical skills in their workforces, with an increasing focus on international standards and relevant competence in English
3. Additional market information
3.1 Geographical considerations
Colombia is located in the north-west of South America, with a Pacific coastline to the west and a Caribbean coastline to the north. The two coastlines are separated by Panama, to the north; Venezuela and Brazil lie to the east, with Ecuador and Peru to the south.
The equator runs through the extreme south of Colombia, so it is a tropical country with Amazon rainforest (in the south) and the Andes (in the west), both of which present challenges for transport and communications.
3.2 Economic context
Colombia has a population of 48 million people, making it the third largest economy in Latin America. It has a GDP of £245 billion and the World Bank rates Colombia as the 43rd easiest country to do business with. It has one of the most open markets in Latin America with 14 free trade agreements including one with the EU. Additionally, the UK is supportive of the Colombian ambition to join the Organisation for Economic Co-operation and Development (OECD).
3.3 Education sector overview
In 2014, public education spending totalled 4.4% of GDP. President Santos, in his inauguration speech in August 2014, signalled that the budget for education would become the largest across government, reflecting the importance of this area as one of his key three priorities (the others being peace and equity). Additionally, consumer spending on education is predicted to rise significantly over the next five years.