Bogotá, the capital city of Colombia, is a vibrant metropolis renowned for its rich cultural heritage, diverse economy, and strategic importance in Latin America. The city is a hub of economic activity. Its industrial sector is diverse, encompassing manufacturing, food processing, and textiles, making it a key player in Colombia’s economic landscape.

Additionally, Bogotá is a burgeoning technology hub, attracting significant foreign investment by tech startups and multinational companies due to its favorable business environment. Bogotá’s unique blend of historical landmarks, such as the iconic Monserrate and the historic district of La Candelaria, combined with its dynamic economic landscape, makes it an attractive destination for businesses and tourists.

But how does Bogotá perform in terms of economic performance, city brand strength, and reputation according to leading rankings and indices?

Let’s explore:

  • Bogotá’s competitiveness and financial performance
  • Bogotá’s brand strength and global attractiveness
  • Livability: Bogotá’s appeal for digital nomads and locals

Bogotá’s Competitiveness and Financial Performance

How attractive is Bogotá as a place to work and do business?

According to the Global Financial Centres Index 35, Bogotá ranks 117th overall, maintaining its previous position, reflecting stability in its financial services sector. Additionally, Bogotá’s GFCI Fintech rank is 114th, showing a decrease of 11 positions, indicating some challenges in the fintech sector.

In 2thinknow’s Innovation Cities Index 2022-2023, Bogotá ranks 251st, demonstrating significant improvement with a positive change of 42 positions. This highlights the city’s efforts in fostering innovation across various sectors especially in technology and sustainability.

Bogotá’s Brand Strength and Global Attractiveness

Which subfactors help and hurt the brand of Bogotá?

Resonance’s 2024 World’s Best Cities Report ranks Bogotá 81st overall, with specific scores in:

  • Livability: 88th
  • Lovability: 48th
  • Prosperity: 118th

The report praises Bogotá’s sustainability focus, notably the city is aiming for net zero by 2050, developing its sustainable ‘slow’ fashion brand, and through the Séptima Green Corridor initiative strives to upgrade and integrate the city’s transport network.

According to the Brand Finance City Index 2023, Bogotá ranks 88th, indicating strong brand recognition on the global stage.

Livability: Bogotá’s Appeal for Digital Nomads and Locals

Which aspects of Bogotá’s urban living make it an attractive place to live, work, and study?

The Mercer Quality of Living City Ranking places Bogotá 129th, indicating room for improvement in quality of life. The Mercer Cost of Living Ranking ranks Bogotá 214th, showing a slight decrease of 9 positions, indicating a reasonable quality of life at low cost compared to other major global cities, making the city ideal for startups and digital nomads.

The Arcadis Sustainability City Index 2022 ranks Bogotá 78th overall, with specific ranks of:

  • Planet: 20th
  • People: 82nd
  • Profit: 82nd

Bogotá is the only developing city to feature in the top 40 in the Planet ranking, despite struggling to improve the city’s and its population’s overall prosperity. The report regards the city as a model for other developing cities to follow.

Bogotá is home to several respectable educational institutions. According to the Times Higher Education ranking, Universidad Nacional de Colombia ranks within the 1201-1500 range, and the University of the Andes ranks within the 801-1000 range. The QS World University Ranking recognizes Fundación Universidad De Bogotá-Jorge Tadeo Lozano within the 1201-1400 range, Universidad Nacional de Colombia at rank 219, and University of the Andes at rank 179.

Last updated in June 2024.

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