The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
Learn moreEuromonitor addresses your unique questions and challenges across all B2B and B2C industries and geographies through custom, tailor-made research projects, designed to your specific goals.
Learn moreIf you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!
Boston Home to two of the world's leading universities (MIT and Harvard), cradle of the American Revolution and core of Massachusetts state, the Greater Boston area is a knowledge-based economy, with a population of 4.7 million in 2016. It boasts one of the highest proportions of people with a higher education in the world, and this has helped industries such as finance, professional services, healthcare and education to prosper.
Files are delivered directly into your account within a few minutes of purchase.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Boston has a large pool of highly skilled employees. 51% of Boston's adult population (aged 15+) held a higher education degree in 2016, against 35% elsewhere in the country. Consequently, Boston enjoyed a 29% premium in labour productivity over other parts of the US. The highly productive business services category accounted for 24% of employment in Boston in 2016, versus 18% in the rest of US.
Reflecting the higher labour productivity in the city and higher labour force participation rate (82% of the 15-64 year age segment, versus 74% in the rest of the US in 2016), households in Boston had on average 40% higher annual disposable incomes than in other parts of the US.
Compared to the rest of the US, an average household in Boston spent 30% more on consumer items (excluding housing and transport) in 2016. Proportionally, per household expenditure on education in Boston (3.0% of total expenditure in 2016) was higher than in other parts of the US, (2.3%) because the city is a major centre for higher education. Healthcare expenditure was also proportionally higher (23% of total expenditure in Boston, versus 22% elsewhere in the US). Boston was ranked as the seventh best place for medical care in the US in 2016.
In contrast, average household consumer expenditure on housing and transport in the city was only 18% greater than in the rest of the US in 2016, making Boston a rather affordable city, given the income advantage. In particular, Boston is not as car-reliant as some other metropolises in the country, which drives down transport expenditure.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.