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Phoenix is an important business services centre; however, the main services provided are outsourced back-office functions, which sets Phoenix apart from the country's leading business hubs, such as New York or Chicago. In 2016, Phoenix's GVA per employee (labour productivity) markedly lagged behind the rest of the country's average, by 16%.
Lower average wages
In general, the outsourced functions generate less added value than traditional business services, which results in lower average wages in the city than in the rest of the US. In 2016, average household disposable income in Phoenix was 11% lower compared with the rest of the country.
Lower household expenditure compared with the rest of the country
Household expenditure (excluding transport and housing) was 7.7% less compared with the remaining parts of the country in 2016. Household spending is distributed unevenly between specific budget categories. Whilst education received 17% less household spending in Phoenix compared with the rest of the country in 2016, hotels and catering recorded 3.9% greater spending in the city than elsewhere in the country.
Affordable city to live in, compared with other major cities in the country
Phoenix is a more affordable place to live compared with other major cities in the US, such as New York, San Francisco or Los Angeles. In 2016, spending on consumer household spending housing and transport combined in Phoenix was 3.7% less compared with the remaining parts of the US.
The Phoenix City Review market research report includes:
- Major Phoenix cities scorecard
- Detailed ranking of cities in terms of future growth, wealth, labour and other key consumer and economic indicators
- Historic data on population, consumer expenditure, digital consumer and other indicators
- Five-year forecasts of trends and city growth
The Phoenix City Review in Phoenix report answers:
- How does a specific city fair in terms of consumer market attractiveness compared to a country/region?
- Which cities will be the fastest growing in Phoenix?
- What is the consumer market potential in specific cities?
- Which cities in “Country” have the largest number of wealthy consumers?
- How does the city affordability differ across country and region?
- How does labour productivity differ across cities?
- What is the household profile in different cities?
PHOENIX REVIEW AT A GLANCE
Understanding Phoenix Review structure
Chart 1 Overview
Key facts on Phoenix
Summary 1 Key Facts On Phoenix 2011, 2016, 2021
Delimitation of the metropolitan region
Chart 2 Map Of Phoenix Metropolitan Area
Main business districts
ECONOMY OF THE CITY
Chart 3 Industrial Composition Of Phoenix 2016
Chart 4 Labour Productivity: Selected Cities 2016
Recent developments and outlook
Chart 5 Dynamics Of Real GDP In Phoenix, USA And Other Cities In North America, 2011-2021
Summary 2 Labour Market Changes In Phoenix 2011, 2016
Chart 6 Population By Age 2016
Chart 7 Drivers Of Population Growth In Phoenix 2011-2016
Chart 8 Household Distribution By Income In Phoenix 2016 And 2021
Structure of household budget
Chart 9 Comparison Of Household Expenditure In Phoenix And USA, 2016
Summary 3 Phoenix Household Budget Structure By Consumer Expenditure Item, % of total, 2011, 2016, 2021
Outdoor Tourism Activities - A Boost To Phoenix's Economy
Electric Cars To Decrease Air Pollution
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 Air Pollution, Concentration In Micrograms Per Cubic Metre, 2011-2016
Summary 19 Possession of Consumer Durables, % of Households, 2011, 2016, 2021