Colombia business guilds propose 2027 minimum wage increases

Business guilds in Colombia have presented initial proposals for the 2027 minimum wage increase, suggesting adjustments between 8% and 9.5%. Based on the 2026 monthly basic salary of $1,750,905, these estimates suggest the new wage could range from approximately $1,890,977 to $1,917,241, excluding transportation allowances.

Different organizations hold varying positions: Colfecar proposes an increase not exceeding 8%, while Andesco suggests a range of 8% to 9.5% by factoring in real inflation plus up to two points of productivity. The Ministry of Labor has convened the Permanent Commission for the Concertation of Wage and Labor Policies to facilitate discussions between the government, employers, and labor unions.

Minister of Labor Natalia Eugenia López indicated that the goal is to establish a permanent sectoral table to address broader labor and social policies beyond the annual minimum wage discussion. The final decision will consider several economic factors, including the Consumer Price Index (CPI), productivity, and economic growth.