The Business Diaspora as a Factor in the Internationalization of the Colombian Economy
Keywords:
International Economics, Business Diaspora, Foreign Investment, Ethnic Trade
Abstract
The Colombian economy has internationalized due to various factors; one that has been consolidated over the last five decades has been the business diaspora. The rapid growth of migration, especially to countries with higher incomes than Colombia, such as the United States and Spain, has enabled entrepreneurial activity linked to sectors such as construction, tourism, food, ethnic commerce, apparel, and healthcare. This business sector has developed autonomously and could be a source of investment to further boost the country's economy.
References
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Kymlicka, W. (1996). Multicultural Citizenship. Barcelona, Paidós Ibérica, S.A.
Labert (2024). Colombian migration in Spain. Territory laboratory project: Technical direction of the territory laboratory. Accessed 19/06/2025 at: https://laboratoriodeterritorios.org/wp-content/uploads/2024/12/INFORME-FINAL-DE-LA-MIGRACION-COLOMBIANA-EN-ESPANA-2024-1.pdf
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Marín R. & Torres L. (2020). Invisible Colombians. Non-existent migration management. Publycrea International. www.colexret.com
Massey, Douglas (2017). Understanding international migrations. Migration theories, practices and policies. Ediciones Bellaterra.
Mejía, W. (2018). Almost two centuries of Colombian migration to the United States. Papeles de población, 24(98). Accessed 21/06/2025 at: https://doi.org/10.22185/24487147.2018.98.36
Michelin Guide (2025). Michelin Guide restaurants, Spain. Quimbaya. Accessed 19/06/2025 at: https://guide.michelin.com/es/es/comunidad de madrid/madrid/restaurante/quimbaya
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Naïr, S. (2023). Reflections on Europe, migrations and co-development. Spanish Journal of Development and Cooperation, 50(1). Accessed 19/05/2025: https://revistas.ucm.es/index.php/REDC/article/view/87820/4564456564204
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Portes, A. (2003). The Cuban-American Political Machine: Reflections on its Origin and Permanence.
Pries, L. (2002). Transnational Migration and the Drilling of Nation-State Containers. Demographic and Urban Studies. El Colegio de México, 17(3).
Ravenstein, E. G. (1885). The Laws of Migration. Journal of the Royal Statistical Society, 48, 167 - 227.
Santa Marta Golden (2025). Santa Marta Golden Café. Accessed 22/06/2025 at: https://santamartagolden.com/
Saskia, S. (2013). Immigrants and citizens: from mass migrations to fortress Europe. XXI Century Spain.
Tavernelli, R. (2011). The transnational approach to migration and the challenge of a comprehensive analysis that takes the perception of the natives as part of the process. Working Papers Series, Postgraduate Network, CLACSO, Document no. 12. Accessed 17/05/2025: https://biblioteca.clacso.edu.ar/clacso/posgrados/20120420034648/Tavernelli.pdf
Infanta Isabel Theatre (2025). Comedy night in Madrid. Ricardo Quevedo and Liss Pereira. Accessed 19/06/2025 at: https://www.teatroinfantaisabel.es/obra/noche-de-comedia-en-madrid/
Thomas, W. & Znaniecki, F. (2004). The Polish peasant in Europe and America. Centre for Sociological Research and Official State Gazette. Accessed 14/05/2025: file:///C:/Users/lizab/Downloads/adminRECYT,+15%20(1).pdf
Unexpected Events (2025). Colombian nightclubs in Madrid. Accessed 19/06/2025 at: https://discotecas-madrid.com/latinas/discotecas-colombianas-en-madrid/
Wallerstein, I. (1998). The Construction of Peoples: Racism, Nationalism, Ethnicity. In: Balibar, Étienne and Wallerstein, Immanuel Race, Nation and Class. Madrid: IEPALA.
Asocambiaria (2004). Survey of beneficiaries of workers' remittances in exchange institution agencies in Colombia.
Banco de la República (2025). Remittance. Accessed 25/05/2025 at: https://www.banrep.gov.co/es/glosario/remesas
Banco de la República (2025a). Recent evolution of external income from remittances to Colombia. Accessed 25/05/2025 at: https://www.banrep.gov.co/es/blog/evolucion-reciente-ingresos-externos-remesas-hacia-colombia
Inter-American Development Bank (2011). My House with Remittances. Accessed 18/06/2025. https://doi.org/10.18235/0007071
Bohórquez, K. (2020). Colombian companies conquering the United States through Amazon. Forbes Magazine, October 17, 2020. Accessed 19/06/2025 at: https://forbes.co/2020/10/17/negocios/las-empresas-colombianas-que-conquistan-estados-unidos-a-traves-de-amazon
Cárdenas, M. & Mejía, C. (2006). International Migrations in Colombia: What do we know? Fedesarrollo. Accessed 18/06/2025: https://www.repository.fedesarrollo.org.co/handle/11445/810?locale-attribute=en
CCB (2019). Colombian fashion lands at El Corte Inglés in Madrid. Bogota Chamber of Commerce and Bogota Fashion Week. Accessed 19/06/2025 at: https://www.bogotafashionweek.com.co/Actualidad/2019/Mayo-2019/La-moda-colombiana-desembarca-en-El-Corte-Ingles-en-Madrid
Chaves-González, D. & Batalova, J. (2023). Colombian immigrants in the United States. Migration Policy Institute, MPI. July 2023. Accessed 19/06/2025 at: https://www.migrationpolicy.org/article/inmigrantes-colombianos-en-los-estados-unidos
Colombia Unites Us (2025). Services Fair in Madrid, Spain. May 2, 2023. Accessed 21/06/2025 at: https://www.colombianosune.com/noticia/vi-feria-de-servicios-para-colombianos-en-madrid
Colombia Nos Une (2025a). Services Fair in New York, United States. September 15 to 17, 2023. Accessed 21/06/2025 at: https://www.colombianosune.com/feria-de-servicios-en-nueva-york-2023
Cruz, A. (2025). Where are there more Colombians in the United States, according to the latest report? There are almost 4,000,000 South American migrants in the U.S. and many of them are from Colombia. In El Tiempo, February 1, 2025. Accessed 22/06/2025 at: https://www.eltiempo.com/mundo/eeuu-y-canada/donde-hay-mas-colombianos-en-estados-unidos-segun-el-ultimo-informe-3421332
D'Carnilsa (2025). The best Santarrosano chorizo with the authentic flavor of our land. Accessed 19/06/2025 at: https://dcarnilsa.com/ecommerce/es/11-chorizos
Delgado, P. (2025). Remittances to Colombia lead the inflow of dollars into the country, while foreign investment falls. Analitik assesses. Accessed 14/06/2025 at: https://www.valoraanalitik.com/remesas-hacia-colombia-lideran-la-entrada-de-dolares-al-pais-mientras-la-inversion-extranjera-cae/
De Santiago Hernando, R. (1993). Classical Theory and Recent Empirical Studies on Migratory Flows. Annals of Economic and Business Studies, 8, 297 – 330. Accessed 05/06/2025 at: https://dialnet.unirioja.es/servlet/articulo?codigo=788024
FCECO (2020). "La Receta", the first guide to Colombian restaurants and distributors in Spain. It is an initiative of ProColombia and brings together more than 50 registries in Madrid and Barcelona. Fundación Consejo España Colombia, FCECO. Accessed 20/06/2025 at: https://www.espana-colombia.org/articulo/la-receta-primera-guia-de-restaurantes-y-distribuidores-colombianos-en-espana
Garay, L. J. (2006). The Colombian group residing in the Community of Madrid: socioeconomic characterization, labor insertion and social integration. In: Colombia Nos Une. Memoirs II Seminar on Colombian International Migration and the Formation of Transnational Communities (pp. 73 – 78). Bogotá, Ministry of Foreign Affairs.
Garay, L. J., & Medina, M. (2007). Colombian migration to Spain. The most recent chapter in a shared history. Secretary of State and Immigration. Madrid, Spain.
García, R. (2007). The Three for One Program of collective remittances in Mexico. Lessons and challenges. International Migrations, 4(1). Tijuana January/June 2007. Accessed 23/05/2025: https://www.scielo.org.mx/scielo.php?script=sci_arttext&pid=S1665-89062007000100007
Gaviria, A. (2004). USA Visa: fortunes and misplacements of Colombian migrants in the United States. Colombia International Magazine. No. 59. Universidad de Los Andes. Accessed 20/06/2022 at: https://doi.org/10.7440/colombiaint59.2004.02
Guarnizo. L. E. (2004). Economic aspects of transnational living. Colombia Internacional, 59(January-June), 12-47. Universidad de Los Andes Bogotá, D.C., Colombia. Accessed 19/06/2025: https://www.redalyc.org/pdf/812/81205902.pdf
Haberler, G. (1993). The Liberal Economic Order (Economists of the Twentieth Century series). Anthony Y.C. Koo (Editor).
INE (2025). Continuous Population Statistics (ECP). April 1, 2025. National Institute of Statistics, INE. Spain. Accessed 19/06/2025 at: https://www.ine.es/dyngs/Prensa/ECP1T25.htm#:~:text=El%20n%C3%BAmero%20de%20hogares%20se,el%20primer%20trimestre%20de%202025.
Infoautónomos (2025). How many self-employed workers are there in Spain and what are they like? Accessed 15/06/2025 at: https://www.infoautonomos.com/autonomos-espana-ley/cuantos-autonomos-espana-como-son/
Khoudour, D. (2007). Why do Colombians emigrate? A departmental analysis based on the 2005 Census. Journal of Institutional Economics, 9(16), 255 – 271.
Krugman, P. (2020). Against zombies. Economy, politics and the struggle for a better future. Editorial Planeta, S.A. Editorial Crítica.
Kymlicka, W. (1996). Multicultural Citizenship. Barcelona, Paidós Ibérica, S.A.
Labert (2024). Colombian migration in Spain. Territory laboratory project: Technical direction of the territory laboratory. Accessed 19/06/2025 at: https://laboratoriodeterritorios.org/wp-content/uploads/2024/12/INFORME-FINAL-DE-LA-MIGRACION-COLOMBIANA-EN-ESPANA-2024-1.pdf
Lewis, W., Arthur (1954). Economic development with unlimited supplies of labour. Manchester School of Economic and Social Studies, 22, 139-191. Consultado en 23/05/2025: http://www.scielo.org.co/scielo.php?script=sci_nlinks&ref=000220&pid=S0120-6346201000010000500022&lng=en
Maldonado, R., & Harris, J. (2024). Remittances to Latin America and the Caribbean in 2024: slowing the pace of growth. Inter-American Development Bank, IDB. Accessed 17/06/2025: https://doi.org/10.18235/0013258
Marín R. & Torres L. (2020). Invisible Colombians. Non-existent migration management. Publycrea International. www.colexret.com
Massey, Douglas (2017). Understanding international migrations. Migration theories, practices and policies. Ediciones Bellaterra.
Mejía, W. (2018). Almost two centuries of Colombian migration to the United States. Papeles de población, 24(98). Accessed 21/06/2025 at: https://doi.org/10.22185/24487147.2018.98.36
Michelin Guide (2025). Michelin Guide restaurants, Spain. Quimbaya. Accessed 19/06/2025 at: https://guide.michelin.com/es/es/comunidad de madrid/madrid/restaurante/quimbaya
MPI (2025). Colombian immigrants in the United States. Migration Policy Institute. https://www.migrationpolicy.org/article/inmigrantes-colombianos-en-los-estados-unidos
Naïr, S. (2023). Reflections on Europe, migrations and co-development. Spanish Journal of Development and Cooperation, 50(1). Accessed 19/05/2025: https://revistas.ucm.es/index.php/REDC/article/view/87820/4564456564204
Najar, A. (2015). How did Mexico become the world's leading exporter of beer? BBC Mundo, Mexico City. Accessed 01/06/2025: https://www.bbc.com/mundo/noticias/2015/06/150624_mexico_cerveza_primer_exportador_mundo_an
Niño, J. (2022). The Colombian Diaspora as an Agent of Sustainable Development. Published by the International Organization for Migration, IOM. Accessed 28/05/2025: https://www.idiaspora.org/index.php/es/learn/resources/investigacion-y-estudios/la-diaspora-colombiana-como-agente-de-desarrollo
IOM (2025). 5 Contributions of Migrants to the Growth of Economies in Latin America. Blog Carlos Escobar. International Organization for Migration, IOM. Accessed 18/06/2025 at: https://lac.iom.int/es/blogs/5-contribuciones-de-las-personas-migrantes-al-crecimiento-de-las-economias-en-america-latina
Piore, M. (1979). Birds of passaje: migrant labor in industrial societies. Cambridge University Press. Consultado 28/05/2025: http://www.scielo.org.co/scielo.php?script=sci_nlinks&ref=000233&pid=S0120-6346201000010000500035&lng=en
Portes, A. (2003). The Cuban-American Political Machine: Reflections on its Origin and Permanence.
Pries, L. (2002). Transnational Migration and the Drilling of Nation-State Containers. Demographic and Urban Studies. El Colegio de México, 17(3).
Ravenstein, E. G. (1885). The Laws of Migration. Journal of the Royal Statistical Society, 48, 167 - 227.
Santa Marta Golden (2025). Santa Marta Golden Café. Accessed 22/06/2025 at: https://santamartagolden.com/
Saskia, S. (2013). Immigrants and citizens: from mass migrations to fortress Europe. XXI Century Spain.
Tavernelli, R. (2011). The transnational approach to migration and the challenge of a comprehensive analysis that takes the perception of the natives as part of the process. Working Papers Series, Postgraduate Network, CLACSO, Document no. 12. Accessed 17/05/2025: https://biblioteca.clacso.edu.ar/clacso/posgrados/20120420034648/Tavernelli.pdf
Infanta Isabel Theatre (2025). Comedy night in Madrid. Ricardo Quevedo and Liss Pereira. Accessed 19/06/2025 at: https://www.teatroinfantaisabel.es/obra/noche-de-comedia-en-madrid/
Thomas, W. & Znaniecki, F. (2004). The Polish peasant in Europe and America. Centre for Sociological Research and Official State Gazette. Accessed 14/05/2025: file:///C:/Users/lizab/Downloads/adminRECYT,+15%20(1).pdf
Unexpected Events (2025). Colombian nightclubs in Madrid. Accessed 19/06/2025 at: https://discotecas-madrid.com/latinas/discotecas-colombianas-en-madrid/
Wallerstein, I. (1998). The Construction of Peoples: Racism, Nationalism, Ethnicity. In: Balibar, Étienne and Wallerstein, Immanuel Race, Nation and Class. Madrid: IEPALA.
Published
2025-07-11
How to Cite
Bolaños Forero, B. E., & Duarte Rojas, J. S. (2025). The Business Diaspora as a Factor in the Internationalization of the Colombian Economy. European Journal of Science, Innovation and Technology, 5(3), 232-247. Retrieved from https://ejsit-journal.com/index.php/ejsit/article/view/679
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Copyright (c) 2025 Blanca Elizabeth Bolaños Forero, Jonathan Steven Duarte Rojas
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