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The Q410 BMI Colombia Retail Report forecasts that the country’s retail sales will grow from an estimated COP178,818bn (US$90.92bn) in 2010 to COP223,937bn (US$113.86bn) by 2014. Underlying economic growth, a young and increasingly urban population, the rise in disposable income and greater numbers of working women are key factors behind the forecast growth in Colombia’s retail sales. Colombia’s nominal GDP is predicted to be US$254.0bn in 2010, with 2009’s marginal growth of 0.4% expected to improve to 3.9% in 2010 as the economy begins to recover. Average annual GDP growth of 3.6% is predicted by BMI between 2010 and 2014. With the population increasing from an expected 46.3mn in 2010 to an estimated 48.7mn by 2014, GDP per capita is forecast to rise by 31.2% by the end of the forecast period, reaching US$7,197. Our forecast for consumer spending per capita is for an increase from a predicted US$3,582 in 2010 to US$5,496 by 2014.
Domestic demand will continue to be the key driver for the growth in GDP, with improvements in the security outlook feeding through to increased consumer and investor confidence. Although Colombia did not reach its target of 4mn tourist arrivals in 2009, due to factors such as the H1N1 virus and the global economic crisis, it still achieved 16% per cent growth in the number of foreign visitors last year, while the world average contracted by 4%.
In 2005, 64.5% of the Colombian population was described by the UN as economically active, with 39.2% in the 20-44 age range, which is crucial to retail sales. Over three-quarters of the population were classified by the UN as urban (77.4%). In 2010, the urban population is forecast to reach almost 80%, with 38.5% in the 20-44 age band and 67.3% of the population expected to be active. The retail sector benefits from Colombia’s status as the third most populous country in Latin America. Retail sub-sectors that are likely to see strong growth over the period include over the counter (OTC) pharmaceuticals, which BMI forecasts to grow from US$0.48bn in 2010 to US$0.80bn by 2014, a rise of 67.9%. Sales of consumer electronic products are estimated at US$3.46bn in 2010, with BMI forecasting a 43.9% rise to US$4.98bn by 2014.
Retail sales for our Latin American universe in 2010 are expected to reach US$1,166bn, based on varying national definitions. Total consumer spending for the region, based on BMI’s macroeconomic database, is predicted to be US$2,590bn. Mexico and Brazil are expected to account for an estimated 74.3% of regional retail sales in 2010, with those two countries plus Venezuela forecast to account for 84.6% of all retail sales in the region by 2014. For Colombia, its predicted 2010 market share of 7.8% is expected to fall to 6.3% by 2014.
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Original Source : – Indonesia Retail Market
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Browse All Business Monitor International Market Research Reports
The Q410 BMI Colombia Retail Report forecasts that the country’s retail sales will grow from an estimated COP178,818bn (US$90.92bn) in 2010 to COP223,937bn (US$113.86bn) by 2014. Underlying economic growth, a young and increasingly urban population, the rise in disposable income and greater numbers of working women are key factors behind the forecast growth in Colombia’s retail sales. Colombia’s nominal GDP is predicted to be US$254.0bn in 2010, with 2009’s marginal growth of 0.4% expected to improve to 3.9% in 2010 as the economy begins to recover. Average annual GDP growth of 3.6% is predicted by BMI between 2010 and 2014. With the population increasing from an expected 46.3mn in 2010 to an estimated 48.7mn by 2014, GDP per capita is forecast to rise by 31.2% by the end of the forecast period, reaching US$7,197. Our forecast for consumer spending per capita is for an increase from a predicted US$3,582 in 2010 to US$5,496 by 2014.
Domestic demand will continue to be the key driver for the growth in GDP, with improvements in the security outlook feeding through to increased consumer and investor confidence. Although Colombia did not reach its target of 4mn tourist arrivals in 2009, due to factors such as the H1N1 virus and the global economic crisis, it still achieved 16% per cent growth in the number of foreign visitors last year, while the world average contracted by 4%.
In 2005, 64.5% of the Colombian population was described by the UN as economically active, with 39.2% in the 20-44 age range, which is crucial to retail sales. Over three-quarters of the population were classified by the UN as urban (77.4%). In 2010, the urban population is forecast to reach almost 80%, with 38.5% in the 20-44 age band and 67.3% of the population expected to be active. The retail sector benefits from Colombia’s status as the third most populous country in Latin America. Retail sub-sectors that are likely to see strong growth over the period include over the counter (OTC) pharmaceuticals, which BMI forecasts to grow from US$0.48bn in 2010 to US$0.80bn by 2014, a rise of 67.9%. Sales of consumer electronic products are estimated at US$3.46bn in 2010, with BMI forecasting a 43.9% rise to US$4.98bn by 2014.
Retail sales for our Latin American universe in 2010 are expected to reach US$1,166bn, based on varying national definitions. Total consumer spending for the region, based on BMI’s macroeconomic database, is predicted to be US$2,590bn. Mexico and Brazil are expected to account for an estimated 74.3% of regional retail sales in 2010, with those two countries plus Venezuela forecast to account for 84.6% of all retail sales in the region by 2014. For Colombia, its predicted 2010 market share of 7.8% is expected to fall to 6.3% by 2014.
About Us
ReportsandReports comprises an online library of 10,000 reports, in-depth market research studies of over 5000 micro markets, and 25 industry specific websites. Our client list boasts almost all well-known publishers of such reports across the globe. We as a third-party reseller of market research reports employ a number of marketing tools, such as press releases, email-marketing and effective search-engine optimization techniques to drive revenues for our clients. We also provide 24/7 online and offline support service to our customers.
Contact:
Ms. Sunita
7557 Rambler road,
Suite 727, Dallas, TX 75231
Tel: +1-888-989-8004
http://reportsandreports.blogspot.com/
http://reportsandreports.proarticles.co.uk/
http://reportsnreports.wordpress.com/
Original Source : – Indonesia Retail Market
Buy Now : Market Research Report
