People’s perception of the economic situation in Colombia and Latin America it continues to be negative, this as a consequence of the increase in the cost of living for citizens.
According to the ‘Consumer Pulse’ survey, carried out by the consultancy Bain & Company76% of the Colombians surveyed decided to reduce their expenses and their consumption as much as possible in order to give performance to their monthly portfolio.
(Project seeks to subtract up to $2,000 from the price of gasoline).
According to the firm, 95% of the people surveyed throughout the region mentioned that the sectors that have impacted their pocket the most have been food (74%), home energy service (47%), personal care products (Four. Five %), transport (43%) and outings to restaurants and/or leisure (43%) food (74%), home energy service (47%), personal care products (Four. Five %), transport (43%) and outings to restaurants and/or leisure (43%).
(Second cell phones, a market that invoices more than US$100 million).
According to Catalina Fajardo, partner of the firm in Colombia“The reduction in Colombian spending is a sign of alarm for the economy and the productive sectors of the country. This reduction in consumption means a slowdown in the production of certain goods and services, which in turn translates into a brake on job creation in directly related industries. However, it also understands the concern of consumers, who see limiting spending as an option to maintain the balance of personal or family finances.“.
(‘We are taking spending to maximum levels’: Carf).
Finally, the survey showed that, although consumption of products and services has been limited, Citizens have chosen to allocate their assets and/or savings and investments that allow them to cover the increase in prices of essential services.
(Reconversion of area, the real estate trend).
Thus, 36% of those surveyed in Colombia have decided to invest their money in the real estate due to the trust it generates, while another 30% have done so in cryptocurrencies, investment funds either variable income shares in national and international markets.
(Factors that pushed inflation up after the pandemic).
This trend is expected to end once the economic indicators of the countries and the region can recover and come close to the figures they had before the pandemic. In the Colombian case, Inflation for 2023 is expected to close between 9% and 10%, according to projections from the Bank of the Republic.
BRIEFCASE
