Cundinamarca presents outstanding performance in the pillars of sophistication and diversification and the labor market, according to the Departmental Competitiveness Index 2024.
The Private Competitiveness Council (CPC) and the Universidad del Rosario presented for the eleventh consecutive time the results of their Departmental Competitiveness Index (IDC) for 32 departments of the country and the city of Bogotá. On this occasion, Cundinamarca occupies the eighth position in the measurement, with a score of 5.98 out of 10, placing it ahead of the departments of Quindío and Boyacá.
It is important to note that some methodological changes were introduced in this version. One of them is the adjustment made in the standardization method, which considers, for the calculation of the scores, the observed historical maximum and minimum values of the variables in a six-year time window. This modification allows the comparison of the results of the departments and the analysis of the evolution of their competitive performance over time.
One of the most important results of the measurement is the progress recorded in most departments in their competitive performance. Proof of this is that 32 of the 33 territories evaluated presented an increase in their general score compared to the results observed in the 2019 measurement. A result that reflects encouraging news regarding the development trends followed by the departments in recent years. six years, and progress in closing regional gaps.
The most significant advances were observed in the departments of Caquetá, Guainía and San Andrés Archipelago, which presented an average annual increase of 4.7%, 4.6% and 3.5% in their overall score, in the last six years. However, some alarm signs were identified, such as the case of Putumayo, the only department that reduced its overall score between 2019 and 2024, with an average annual drop of 0.8%. Furthermore, when comparing the evolution of the best in the measurement (Cundinamarca) with the worst (Vichada), an increase in the difference in score is observed from 5.3 in 2019 to 5.7 in 2024. A result that is explained in that Cundinamarca increased its score at a higher rate (1.3%) than Vichada did (1.1%).
Cundinamarca, second in the pillar of sophistication and diversification
Cundinamarca occupies eighth position in the IDC 2024, with a score of 5.98 out of 10. In particular, the department presents outstanding performance in the pillars of sophistication and diversification and the labor market, in which it is located in second and third position, respectively.
In terms of sophistication and diversification, Cundinamarca stands out in the indicator of diversification of the export basket, in which it occupies second position. In the case of the labor market, it registers the highest rating in the vulnerable employment variable.
On the other hand, Cundinamarca concentrates its main opportunities of improvement in the pillars of financial system and innovation in which it registers scores of 3.53 and 2.89, respectively. In the financial system, it presents significant challenges in the insurance coverage variables and commercial portfolio deepening index, in which it obtains scores lower than 2.3 out of 10.
In relation to the pillar of innovationCundinamarca presents a low performance in high-quality research, researchers per capita, journals indexed in publindex and investment in ACTI.
The department registers its greatest progress in terms of scores in the labor market pillarin which it improves by 0.7 points, compared to its 2023 results. On the other hand, Cundinamarca presents its greatest fall in the infrastructure pillar, in which it falls 0.6 points, due to its decline in the indicators of land transportation costs to the domestic market and customs.
Finally, Gustavo Adolfo Quintero, rector (e) of the Universidad del Rosario, pointed out that “with this edition of the IDC we wanted to recognize local initiatives that have demonstrated successes in public policy. Thus, we awarded recognition to three departments: Caquetá with the greatest progress in the general ranking, Cundinamarca with the best public policy in education, and Atlántico with the award for efforts towards competitiveness.”
Cundinamarca in the Departmental Competitiveness Index 2024
Follow Periodismo Público on Google News.
Subscribe to our Whatsapp channel
