Raising prices, the path companies have taken to absorb higher costs from a 23% minimum wage increase
The additional cost from the minimum wage hike has in several cases been passed on to prices. Photo: iStock
TL;DR
- 37.2% of Colombian companies are increasing prices to absorb higher costs from the minimum wage hike.
- 33.3% of companies are maintaining current staffing levels, prioritizing employment stability.
- 76.8% of businesses reported no changes in their workforce during the second half of 2025.
- Sales showed a 31.4% increase for companies in the second half of 2025, indicating gradual economic recovery.
- Future investment plans are moderating, with 21% of companies planning to invest in the first half of 2026, down from previous periods.
- Export markets are being diversified, with a focus beyond the United States to include Peru and Panama.
- Regional reports highlight business resilience despite cost pressures and economic uncertainty.