Bogota remains Colombia’s most economically active city, due to its high GDP per capita, population size and consumer expenditure. Medellín holds the highest potential for future economic growth, in terms of fastest real GDP growth over 2023-2028. Growing urban populations are projected to remain comparatively young, especially in Santa Marta which is expected to see the highest youth dependency ratio across the country’s cities by 2028.
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Colombia Cities Review is based on Euromonitor’s City Scorecard. The scorecard is a benchmarking tool used to evaluate the consumer and economic performance of 1,000+ largest cities globally. The scorecard considers indicators across eight key pillars that are at the core of a city’s consumer market development. The scorecard is built by ranking cities in a country/regional context and provides an easy-to-understand system to quickly identify city-specific risks and opportunities.
Euromonitor’s City Scorecard covers over 30 indicators in eight pillars:
• Population
• Consumer Expenditure
• Digital Consumer
• Wealth
• Possession of Household Durables
• Economy
• Labour
• Transport
Colombia Cities Review helps to evaluate potential market size by city and formulate a more informed image of the urban consumer. Key economic indicators combined with income, spending and employment data help businesses map potential market sizes. Comparative data and newest city insights will help businesses customize and tailor country market entry strategies pinpointing the cities with the most future potential.
Inform your marketing, brand, strategy and market development, sales and supply functions This cities review originates from Passport, our Cities market research database.
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