02 de February 2012

Bogotá, the most attractive city for multinationals seeking talent in Latin America.

Fuerza laboral

Knowledge becomes increasingly important as a key element of the value proposition from cities competing to draw international attention.

Bogotá, D.C.  February 2nd, 2012 - IIB -- A recent study by Harvard Business Review about the talent market in Latin America, has rated Bogotá as the most attractive city for multinationals seeking to establish a base in Latin America, on account of its broad talent offering, combined with competitive wages. 

The study, by Ariel Casarín, assesses the positioning of the 35 largest cities in Latin America, regarding their talent offering, defined as the number of individuals with the proper skills and qualifications to become employed by world-class multinationals in areas such as engineering, mathematics, IT and with up to 10 years' experience. 

In a comparison between Bogotá and Santiago, cross-checking the supply and demand for talent, it is evident that Santiago may come to face a scarcity of professionals much sooner than Bogotá, even one decade, which would result in an increase in wages. 

Other interesting results from the study point out that "the talent reserve in Bogotá is of similar size to that of Santiago's, but average wages in the Colombian capital are 55% of that of its Chilean counterpart", and that "Bogotá has almost the same population base as Lima, and yet its talent reserve is four times as large".

The study concludes that in Colombia, wages in Medellín are higher than those in Bogotá, and the talent reserve is smaller. Also noteworthy is a growing trend towards the outsourcing of high-added value knowledge activities required to generate strategies to expand the human talent offering.