Colombia faces $40 trillion reconstruction cost after earthquake

Colombia earthquake reconstruction costs economic recovery housing crisis business census

The earthquake on August 10 has triggered a massive reconstruction and economic recovery effort in Colombia. Camacol estimates that rebuilding could cost approximately $40 trillion and take three to four years. Preliminary assessments suggest nearly 200,000 homes are affected, with 170,000 requiring assisted repairs and over 30,000 being completely destroyed.

In the industrial municipality of Dosquebradas, local authorities are seeking national government support to protect approximately 10,000 jobs and restore industrial capacity. The earthquake caused significant damage to educational infrastructure, leaving several schools with total losses and creating a need for over 200 new classrooms to accommodate displaced students.

Economic recovery efforts include a national census of affected businesses, which is set to close on August 30. As of the latest reports, over 30,000 companies have registered damages, including roughly 12,000 informal businesses. Additionally, the tourism sector, represented by ANATO, is proposing tax reductions and other measures to mitigate the impact of travel cancellations and protect tourism-related employment.