Military spending: The economy of defence

Military spending: The economy of defence


By bogotapost -
October 18, 2016

One of the consequences of years of violence is that Colombia has spent decades investing in its military capacity. Marian Romero finds out more about the considerable market potential of the country’s defence industry.


Colombia has invested over USD$82 million in the defence industry over the past 15 years, according to figures from the World Bank. To put this number in context, that is roughly equivalent to the amount the United States spent on the Persian Gulf War.

Last year, the country spent 3.4% of its GDP on defence – the highest percentage of any country in the region. And it’s not only about money, it’s about people too. Between 2002 and 2015, Colombian security forces grew by 45%, making them the second largest force in the Americas, after the United States.

Much of this investment has been directed at the development of infrastructure. Colombia is self-sufficient in several areas of production such as maintenance and logistics for ships, aircraft and other military assets.

More:
http://thebogotapost.com/2016/10/18/military-spending-economy-defence/