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Andean Group - October 2014 (ISSN 1741-4466)

ECONOMY: Bogotá’s declining economic dominance

As Colombia’s capital, Bogotá has been the country’s main centre of economic activity for decades, accounting for a significant portion of the national GDP. But this is changing. Since 2012, Bogotá’s weighting in the national GDP index has been falling, as that of the country’s regions increases. This trend is the result of rapid economic development in previously neglected areas of the country that have benefitted from the renewed investment boom in the hydrocarbons and mining sectors. While positive, there is some concern that Bogotá is falling into economic decline, impacting the overall level of job creation and the quality of salaries in the country.

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