While much of the world’s spotlight has recently been focused on Brazil, the commercial real estate markets for Colombia and Peru, in particular, have been performing notably well and are forging a much stronger presence on the world stage. Spurring much of this commercial growth is GDP. In 2014, the Colombian economy grew at a rate of 4.6%, mainly by the support of the construction sector which jumped by nearly 10.0% last year. Largely boosting this growth spurt is the 40% increase of the U.S. dollar against the Colombian peso, which has been fueled by falling oil prices, and is making local exports cheaper for international buyers. GDP growth was a bit slower in Peru, but it is expected to perform better in 2015 by growing at an annual rate of 4.1%. By the end of 2016, the GDP rate is anticipated to reach nearly 5.0%. In comparison, the IMF reports that the average annual GDP growth for Latin America was 1.2% in 2014.