Colombia Cities Review

October 2023

Bogota is expected to maintain its position as Colombia’s most populous city and top consumer market in 2027. The capital boasts robust internet connectivity and economic stability, making it attractive to businesses. However, high inflation in Santa Marta poses challenges to consumer purchasing power. Ibagué is predicted to experience the fastest per capita income growth. Despite global urbanisation trends, Colombia’s cities continue to grow, with Bogota leading in population numbers.

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Overview:

Colombia Cities Review is based on Euromonitor’s City Scorecard. The scorecard is a benchmarking tool used to evaluate the consumer and economic performance of 1,000+ largest cities globally. The scorecard considers indicators across eight key pillars that are at the core of a city’s consumer market development. The scorecard is built by ranking cities in a country/regional context and provides an easy-to-understand system to quickly identify city-specific risks and opportunities.

Euromonitor’s City Scorecard covers over 30 indicators in eight pillars:
• Population
• Consumer Expenditure
• Digital Consumer
• Wealth
• Possession of Household Durables
• Economy
• Labour
• Transport

Colombia Cities Review helps to evaluate potential market size by city and formulate a more informed image of the urban consumer. Key economic indicators combined with income, spending and employment data help businesses map potential market sizes. Comparative data and newest city insights will help businesses customize and tailor country market entry strategies pinpointing the cities with the most future potential.

The Colombia Cities Review market research report includes:

  • Major Colombia 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 Colombia Cities Review in Colombia 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 Colombia?
  • 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?
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Colombia Cities Review

HEADLINES

Bogota remains the central population hub in the country
Barranquilla lags behind major Colombian cities in digitalisation
Incomes to rise in Ibagué
High inflation in Santa Marta to erode consumer purchasing power
Bogota to remain the largest contributor to Colombia’s economy
Bogota increases the number of electric buses
Summary 1 City Scorecard by Pillar 2022
Chart 1 Population in 2022 and Population Growth 2022-2027
Chart 2 Population by Age by City 2022
Chart 3 Average Household Size by City 2022
Chart 4 Population Density and Net Migration 2022
Summary 2 City Scorecard in Population Pillar 2022
Chart 5 Total Consumer Expenditure in Colombia by City 2022
Chart 6 Consumer Expenditure per Capita and Consumer Expenditure Growth 2022-2027
Chart 7 City Affordability, Consumer Expenditure on Housing and Transportation 2022
Chart 8 Discretionary vs Necessity Consumer Expenditure 2022
Summary 3 City Scorecard in Consumer Expenditure Pillar 2022
Chart 9 Share of Households with Internet and Broadband Internet Access 2022
Chart 10 Possession of Digital Devices by City 2022
Summary 4 City Scorecard in Digital Consumer Pillar 2022
Chart 11 Disposable Income per Capita and Disposable Income Growth 2022-2027
Chart 12 Number of Households by Disposable Income Band 2022
Chart 13 Number of Households with Disposable Income Over USD150,000 2022-2027
Chart 14 Household Possession of Kitchen Durables by City 2022
Chart 15 Household Possession of Entertainment Electronics by City 2022
Chart 16 Household Possession of Other Durables by City 2022
Summary 5 City Scorecard in Wealth Pillar 2022
Chart 17 GDP per Capita in 2022 and Real GDP Growth by City 2022-2027
Summary 6 City Scorecard in Economy Pillar 2022
Chart 18 Economically Active Population in 2022 and Employed Population Growth by City 2017-2022
Chart 19 Labour Force Participation Rate and Unemployment by City 2022
Chart 20 Labour Productivity Value and Productivity Growth by City 2017-2022
Summary 7 City Scorecard in Labour Pillar 2022
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