Economy of Cali

ck of continuity in the development plans of the next government, and the lack of human and fiscal resources needed to implement the plans mayors. All this created a climate of mistrust among the population, industry and regional government. In this environment, the policy of economic openness government Gaviria caught the city poorly prepared.

In 1998, when the economic crisis became apparent, the national government could not respond to the call of the local politicians and mayors had to introduce austerity measures under pressure from creditor, which the vallecaucano development model to collapse. Additionally, the tightening of the country's internal conflict required a tax increase aimed at national war spending, leaving less room for local governments to collect, through taxes, the money required for their development plans.

In the century economic conditions in the country and the city have changed the rules. The model that handled vallecaucano becomings department until the 1980s, has been moved to the globalization of the economy, as evidenced in areas such as: capital inflows of the most important economic groups in Colombia, creating strategic alliances between entrepreneurs and multinational vallecaucanos, the concern of the companies in the region to optimize their resources and services, investment and diversification of economic groups. Faced with the loss of influence of traditional leaders in the region, the Cali Chamber of Commerce (CCC) has taken his place and served as facilitator of private sector resources focusing on civic and social programs.

Although no official figures of DANE of gross domestic product (GDP) by cities, according to estimates by the administration of Cali, in 1996 the GDP of Cali was 6,000 million, equivalent to 7% of U.S. GDP.