The increase in the number of employed people and the constant flow of remittances strengthened households’ disposable income, supporting more dynamic private consumption, particularly in domestic trade, vehicle purchases, and the demand for accommodation services and durable goods.
Yabrudy-Vega, Javier
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Higher household consumption of durable goods boosted retail sales within the context of improved business confidence. At the same time, the dynamism of sporting events, concerts, and festivals stimulated demand for tourism services, particularly from foreign visitors.
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Commerce strengthened, driven by a rebound in sales of cultural items, entertainment, and new vehicles and motorcycles, amid improved commercial confidence. The financial system supported this momentum with increased lending, particularly to the business sector.
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Published every six months, the Regional Economic Report (RER) offers an analysis of the main aspects of the current economic situation in Colombia.
