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Bogota City Review

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About This Report

Nov 2017

As an emerging metropolis in South America, Bogota accounted for 27% of Colombia's total GDP in 2016. The city is considered to have one of the most competitive business environments in the region, thanks to competitive cost structure and government incentives. Bogota is a hub of back-office services in the fields of IT, finance, accounting, human resource management, engineering and architecture design.

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Bogota City Review

BOGOTA HIGHLIGHTS

The high availability of skilled labour in Bogota brings about a 21% labour productivity premium ahead of the rest of Colombia in 2016. Foreign investment, technology and know-how boost Bogota's value-added produced per employee.

Higher labour productivity and greater employment rate boost average household income

Higher labour productivity, combined with a greater rate of employment (76% of the working-age population was employed in Bogota in 2016, versus 64% in the rest of Colombia), drive up average household earnings in the city. In 2016, disposable income per household in Bogota was 78% higher than in the rest of the country.

Greater household expenditure

The significant disposable income premium elevates household expenditure, which, excluding housing and transport, was 95% greater in Bogota compared to the rest of the country in 2016. Education, communications, and hotels and restaurants were among the budget categories that experienced the greatest differential in expenditure between households in Bogota and the rest of the country in 2016.

Fairly expensive place to live in

Bogota is quite an expensive place to live by Colombian standards, with combined expenditure on transport and housing being 107% higher in the city compared to the rest of the country in 2016. A growing middle-income class is driving up purchases of passenger vehicles in Bogota, while accelerating real estate prices is reflected in increasing housing costs.

BOGOTA REVIEW AT A GLANCE

Understanding Bogota Review structure
Chart 1 Overview
Key facts on Bogota
Summary 1 Key Facts On Bogota 2011, 2016, 2021

BOGOTA HIGHLIGHTS

History
Delimitation of the metropolitan region
Chart 2 Map Of Bogota Metropolitan Area
Main business districts

ECONOMY OF THE CITY

Industrial make-up
Chart 3 Industrial Composition Of Bogota 2016
Chart 4 Labour Productivity: Selected Cities 2016
Recent developments and outlook
Chart 5 Dynamics Of Real GDP In Bogota, Colombia And Other Cities In Latin America, 2011-2021
Summary 2 Labour Market Changes In Bogota 2011, 2016

CONSUMER PROFILE

City demographics
Chart 6 Population By Age 2016
Chart 7 Drivers Of Population Growth In Bogota 2011-2016
Household income
Chart 8 Household Distribution By Income In Bogota 2016 And 2021

CONSUMER EXPENDITURE

Structure of household budget
Chart 9 Comparison Of Household Expenditure In Bogota And Colombia, 2016
Summary 3 Bogota Household Budget Structure By Consumer Expenditure Item, % of total, 2011, 2016, 2021
City lifestyle
Major Efforts To Boost Tourism In Bogota
Bike-Friendly Bogota Is A Model For Other Cities
City affordability
Housing
Chart 10 Household Expenditure On Housing: Selected Cities 2016
Transport
Chart 11 Household Expenditure On Transport: Selected Cities 2016

DEFINITIONS

APPENDIX

Summary 4 GDP Development, 2011, 2016, 2021
Summary 5 GDP By Origin, Current Prices, US$, Million, 2011-2016
Summary 6 Population And Labour Force, 2011-2016
Summary 7 Employed Population By Economic Sector, % of total, 2011-2016
Summary 8 Population By Sex And Broad Age Groups, ‘000, 2011-2016
Summary 9 Population Growth, 2011-2016
Summary 10 Forecast Population Growth
Summary 11 Population By Educational Attainment, 2011-2016
Summary 12 Structure Of Consumer Expenditure By Main Category, 2011-2016
Summary 13 Consumer Expenditure By Main Category, Per Household, Constant (2016) Prices, US$, 2011, 2016, 2021
Summary 14 Households By Income Band, % Of Total, Constant (2016) Prices 2011, 2016, 2021
Summary 15 Households By Income Band, ‘000, Current Prices 2011-2016
Summary 16 Inflation, 2011-2016
Summary 17 Transport Indicators, 2011-2016
Summary 18 Air Pollution, Concentration In Micrograms Per Cubic Metre, 2011-2016
Summary 19 Possession of Consumer Durables, % of Households, 2011, 2016, 2021