Oxford Economics ranks Barranquilla third-best city in Colombia

Oxford Economics published its annual Global Cities Index report and ranked Barranquilla as the third-best city in Colombia. This report ranks 1,000 cities worldwide based on categories such as economic performance, human capital, quality of life, environmental commitment, and governance.

The initial results show that New York leads the ranking, followed by London and San José, California. In Latin America, Santiago, Mexico City, and Buenos Aires stand out. Additionally, the report features nine Colombian cities, with Bogotá, Medellín, and Barranquilla topping the list. The ranking also recognizes Cali, Bucaramanga, Pereira, Cartagena, Ibagué, and Cúcuta.

Oxford Economics: Barranquilla earns third place in Colombia

The Colombian capital is the best-placed city in the country, with the best economic development, ranking at 316th place. Medellín and Barranquilla complete the top three Colombian cities, ranking 422nd and 441st, respectively. You can find the full report here. Barranquilla can be found on page 90.

The unique aspect of Barranquilla is that it is the only Colombian city among the top 100 cities most committed to the environment. Its position could be supported by its efforts to restore the Mallorquín marshland (Ciénaga de Mallorquín) and the FAO’s designation as a Green City.

New York and London Lead

New York’s strength in economic development and human capital makes it the top city in Oxford Economics’ ranking. As a global center for finance, technology, advertising, media, and fashion, New York attracts foreign investment and generates new jobs, especially in cutting-edge areas like technology and telecommunications. Additionally, a GDP of $2.3 trillion and a per capita GDP of $114,000 catapult the Big Apple to the top of the ranking.

Meanwhile, the English capital is a benchmark in human capital due to its ethnic and cultural diversity, enriching its culture and fostering more globalized educational, artistic, and business exchanges. Moreover, a per capita GDP of $78,000, one of the strongest on the continent, signals the efforts recent governments have made in recovery following the 2020 pandemic.

Challenges for the Future

Oxford Economics highlighted that income inequality could slow the economic growth of cities. The sustainability of national debts will be crucial for determining cities’ development while uncertainty about rate cuts remains a question. Finally, the quality of life for city inhabitants will be at stake, especially in places not allocating economic resources to improving health infrastructure.

Recent Recognitions

In April 2024, fDi Intelligence ranked Barranquilla third for Latin American and Caribbean cities with the fastest-growing foreign direct investment. ProBarranquilla also reported a remarkable 130% increase in foreign direct investment in 2023 by BPOs. AIPH World Green City Awards 2024 awarded Barranquilla with a Certificate of Merit for its BAQ-Cultiva project. BAQ-Cultiva’s aim is in Strengthening Urban Forestry and Implementation of Urban Agriculture. Lastly, in 2023, the WRI Ross Center Prize for Cities awarded Barranquilla a prize for best green initiative.