e-Commerce Day Bogotá took place on 24 August and was attended by 40 experts and 25 companies from the Colombian electronic commerce sector. Several predictions about the future of e-Commerce in the country were made during the event, including forecasts by Alberto Pardo, president of the Colombian Chamber of Electronic Commerce, who believes that according to estimates, approximately one billion Dollars (more than €709 million) of goods and services will be sold via the internet in Colombia in 2011.
Pardo added that, "The segment will grow by 100% the following year. At the end of 2012 the figures suggest that more than two billion Dollars' worth of goods and services will have been sold via electronic commerce".
A study by América Economía Intelligence on e-Commerce conditions in Latin America shows that conditions in the region for the development of electronic commerce improved by 47.6% between 2006 and 2009, although there continued to be a huge divide compared to developed countries.
Although Colombia was ranked eighth in 2009 among Latin American countries, the efforts made by the government, the Vive Digital plan, the government's online commitment to unify digital public procedures and to reach 5.52 million internet connections by June 2011 (double the 2.75 million that existed in 2009), have helped to position it as the leading country in the region. The Colombian Ministry for ICTs stated that, "We are experiencing strong uptake and investment by companies in e-Commerce in the country is increasingly significant. The challenge for 2014 will be to have 8.8 million internet connections". Business leaders agree that internet penetration is a determining factor to business in general.