When I was Cartagena, Colombia last year I spent some time with Edgar Gomez (EGO), who is reputed to be one of the worlds best Chacabanas designers and tailors. He's a great guy and lot of fun to spend time with.
He supplies most of the Colombian elite and celebraties, plus plenty of famous people around the world, from the King of Spain, Castro to Bill Gates.
About $220 a pop thou... you can have a tailor made Dominican Chacabana with all the bells and whistles made in Santo Domingo or Santiago for $150 or less (either way it's not cheap).
One of the advantages they DO have in Colombia, is that they DO get quality fabrics in greater quantities and varieties and at more affordable prices and may have easier access to qualified labor.