Caracas City Review


About This Report

Jun 2017

Caracas is the capital of a country that is in the midst of a social and economic crisis. H Hyperinflation in Venezuela hit almost 800% by the end of 2016, and disposable annual incomes in the households of Caracas dropped by 24% in real terms over 2011-2016. Labour productivity declined by 13% over the same period, not only due to inflation but also because of continuing political unrest in the capital. In 2016, Caracas generated a GDP of only USD9.8 billion, 16% less than in 2011.

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Caracas City Review


Although Venezuela's major oil deposits are located outside of Caracas, the city still benefits significantly from the revenue generated by the oil industry. In addition, Caracas has a large and productive business services sector, compared with other parts of the country. In 2016, GVA produced per employee in Caracas, at USD6,300, was 72% higher than the average in the rest of Venezuela.

Household disposable income lags behind other major metropolitan areas in Latin America

Caracas's households enjoyed on average 42% higher disposable income than those in the remaining parts of the country in 2016. However, when compared to other major metropolitan areas of Latin America, like Quito (USD17,800 annual disposable income per household in 2016) or Buenos Aires (USD28,700), Caracas's households lag behind.

Greater expenditure on healthcare, education and communications

In 2016, expenditure on consumer items (excluding housing and transport) was 27% higher in Caracas than elsewhere in Venezuela. In particular, per household spending on healthcare, education and communications was high in the capital city in 2016, surpassing the rest of the country averages by 106%, 93% and 70%, respectively.

Greater spending on housing

Consumer expenditure on housing and transport in Caracas was 50% above the rest of the country average in 2016. The biggest difference between Caracas and other parts of the country was in housing expenditure. In 2016, households in Caracas spent 77% more on housing than those outside Caracas.

Caracas City Review


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


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


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


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


Structure of household budget
Chart 9 Comparison Of Household Expenditure In Caracas And Venezuela, 2016
Summary 3 Caracas Household Budget Structure By Consumer Expenditure Item, % of total, 2011, 2016, 2021
City lifestyle
US Issues A Warning To Due Unrest In Caracas
Not Living Up To Public Wi-Fi Access Policies
City affordability
Chart 10 Household Expenditure On Housing: Selected Cities 2016
Chart 11 Household Expenditure On Transport: Selected Cities 2016



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 Possession of Consumer Durables, % of Households, 2011, 2016, 2021