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While Novosibirsk finds it hard to compete with the likes of Moscow and St Petersburg on many economic and consumer indicators, the city has earned itself a rightful title as "the capital of Siberia". Russia's third-most populous city is currently pursuing the development of a larger urban agglomeration by the 2030s, with economic synergies to be reaped from new business, innovation and logistics clusters.
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Novosibirsk's economic role in the country is less significant than that of Moscow or St Petersburg. Labour productivity (measured as GVA per employee) in Novosibirsk was 23% lower than in the rest of Russia in 2016, not least due to the lack of a qualified workforce.
The labour productivity disadvantage is the reason for the 20% lower disposable income per household in Novosibirsk compared with other parts of the country as of 2016. However, the city boasts a more equal income distribution than either Moscow or St Petersburg.
Novosibirsk's consumer expenditure per household (excluding housing and transport) is 12% lower than that in the rest of Russia. Food is the principal expenditure category, capturing a 30% share of a typical household budget in 2016.
Per-household spending on transport and housing was 8.9% below the average figure in the rest of the country in 2016. Real estate is not as expensive in Novosibirsk as in other key cities in Russia, while its stronger public transport usage helps economise on commuting costs.
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