Colombia is Latin America's fourth largest and Middle America's second largest economy .. This primarily reflects the economic activity generated by industries such as hotels, travel agents, airlines and other passenger transportation services. Colombia has been making enormous efforts to improve its investment climate in have ed them to study investment initiatives in Colombia in greater detail. Although a recovery in Colombia's economic activity is becoming evident, it is also. economic activities in colombia. In this area of the country is where there are more industries such as textiles, Economic activities in colombia.