Macro challenges for the country’s economy over the next 30 years in Colombia in 2053 include many of the elements under discussion today. The pension issue and the aging of the populationIt includes all economic, social, educational and health factors.
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However, there are other important elements that will no longer be part of the everyday life of Colombians after a maximum of 20 years: Physical money.
To Andres Langeback, director of economic research at the Bolívar Davivienda Group, the grief of many, but the satisfaction and order of many, “In another 20 years, coins and banknotes will disappear, which is already starting to be seen in most of the Scandinavian countries.”
An analyst in that region of the world says it’s already difficult to get a bill changed. Sweden, Denmark, Norway or Finland Due to the growth that digital payment systems have achieved.
Of course, the disappearance of physical money, considered impossible to happen to many, has many advantages from many perspectives.
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For example, the control of transactions and the origin of resources will be more efficient, which will be key for governments and national and transnational control systems to fight crime.
Money
The energy transition that has already begun to be seen in the world will undoubtedly take place in three decades, in which we will talk about locomotion without the use of fossil fuels and various alternatives for daily life.
The financial system is characterized by greater financial and insurance content, Not just in cities, but in rural and geographically remote areas.
For this, Investments by technology companies in the telecom sector are vitalBut improvements in banking software and hardware, as well as advances in the adoption of artificial intelligence, together with open banking and open data, can contribute to a sector with fewer and fewer service offices.
This is assessed by a recent study by the Boston Consulting Group, in which banks’ use of digital channels will be deepened, along with identity protection mechanisms to prevent cyber fraud at the personal and commercial banking level.
(Also Read: Digital Wallets Consolidate As Driver Of Financial Inclusion)
Looking at the world’s sectoral growth trends, Langebaek says the service sector is growing the most in Western countries, while goods manufacturing is declining.
That element is occurring in Colombia and assumes that we are heading towards a Service Economy and Manufacturing Along with the agricultural sector, it will continue to decline.
Another key area of demographics, as Langebach says, is that in 2050 there will be more people aged 60 and over than people aged 18 and under. “We’re either going to have a silver society or a gray generation.”.
Thus, an aging population will necessarily and strongly influence consumption patterns, savings, geographic location, care, medical specialties and even new forms of mobility for the disabled.
Apart from this, another element At least one new pension reform cannot be avoided. Different from what is currently being discussed.
This initiative should include new age and contribution parameters, among other issues.
(Also read: Aging in Colombia: What’s next for the country’s elderly)
In the country, work for another country
In addition, according to analysts, even if people do not like it, the world has become globalized and many Colombian professionals are already working in the country, but they are associated with companies, institutions and companies abroad. As with other labor laws, these cases are not easy to monitor because they may present elements that are contrary to contracts and Colombian law under other regulations.
In that case, the government would lose control over these events, notes the analyst.
Moreover, it becomes more complicated to ensure it Pays taxes to corporations Services from overseas, for example, offer streaming.
The challenges of globalization and technological advances and the solutions they bring are not easy to manage.
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People have been leaving rural areas for decades.
100 years ago 75% of people lived in rural areas and 25% in cities, today it is the other way around.
This is coupled with high technology in food production, which will be pronounced in the coming decades.
Langeback says that we are immersed in Columbia today in ideological debates Should the government provide services or the private sector?
“Colombia must go through a period of maturity, in which not one, but both, in balance, is said to be able to provide solutions and help. “These fights must be taken to a practical and non-ideological landscape and consensus system”Says the analyst.
“My family is of Danish origin, where a plumber can earn more than a lawyer or an economist, and they are a mature country, where labor shortages and jobs are not valued if they are off the table, but through experience and knowledge the person is fit for the job”Langebach advised.
Over time, he says, we will reach an equilibrium where technical education becomes profitable as the population with expertise and degrees is cut off compared to tuition and expensive education.
Poverty, unemployment, malnutrition, drug trafficking, various forms of crime and greater openness and tolerance for diversity should be part of the agendas.
Employment in Colombia Time
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On Colombia’s agenda for the next 30 years, special attention should be paid to the issue of human rights, as evidenced by the various forms of crime the country sees as violence, and the deaths caused by the atmosphere of unrest.
It took decades to sign peace accords, but even that has not resulted in complete peace, and the challenge is to stop the bleeding, which robs the country of its potential for development.
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