Colombia's Economy
Migrants From Venezuela
How Colombia absorbed nearly 3 million Venezuelan migrants fleeing economic collapse, granting temporary protected status in 2021, and the economic effects.
Colombia took in millions of Venezuelan migrants.
Scale
Nearly 3 million Venezuelans live in Colombia, the largest share of any country.
Why
Venezuela’s economic collapse and hyperinflation.
Protected status
In 2021, Colombia granted Temporary Protection Status for 10 years, letting migrants work legally.
Economic effects
- Short-term pressure on services and wages in border areas.
- Long-term growth from more workers and consumers.
Informality
Many migrants work informally.
Lesson
Legal status helps migrants integrate and contribute.
The legal job
With protected status, a Venezuelan nurse gets her qualifications recognised and works in a Bogotá hospital.
Thinking migrants are only a burden
Legal status helps them contribute.
Key takeaways
- Colombia hosts nearly 3 million Venezuelans.
- They fled economic collapse.
- 2021 status allows legal work.
- Integration boosts growth.
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