What is the richest city in Latin America?

Many cities in Latin America appear to have great economic potential. Generally, they are found in countries that also produce the greatest amount of wealth in the region, such as Brazil or Mexico.

However, the distribution of wealth is very unequal in the region and, for this reason, cities such as giant Sao Paulo in Brazil or Mexico City do not have the highest gross domestic product per capita.

In that ranking, however, there are other cities, some less known to most, but which have experienced recent growth in recent years.

In this sense, the top of the ranking of the richest cities is occupied by cities populated by skyscrapers, banks and corporate headquarters.

What is the richest city in Latin America?

It is in first place in several rankings Monterreylocated in northern Mexico, in the state of Nuevo León, with a GDP per capita of $31,912 per year.

Very beautiful city surrounded by mountains, with 5 million inhabitants, it is considered the most modern city in Mexico. And it has enormous influence from the United States, given its proximity: it is 475 km from San Antonio, Texas.

The ranking drawn up by Elip Inspire Furthermore, through his YouTube page, he places Monterrey as the richest city in Latin America.

In second place in this ranking is the imposing city of Panama US$31,079 per capita per yearnearly double the country’s GDP estimated at $17,357.

Dubbed the Dubai of Latin America by Forbes magazine for its recent spectacular economic growth. 90 banking institutions operate there and this makes it the financial center of the region.

Subsequently, the ranking developed by Elip Inspire, and based on the cities’ GDP per capita, places the following cities below Monterrey and Panama:

• 3. Buenos Aires ($28,788 per capita).
• 4. Montevideo (28,085 USD)
• 5. Campinas, Brazil (27,555 USD)
• 6. Santiago de Querétraro Mexico (US$26,399)
• 7. Brasilia (USD 26,183)
• 8. San José de Costa Rica (US$ 24,911)
• 9. Santiago, Chile (24,829 USD)
• 10. Mexico City, ($24,372 per capita)

In all cases, the GDP per capita, i.e. the sum of everything produced in a year in goods and services, divided by the number of inhabitants, is higher than that corresponding to the country in which these cities are located.

In the case of Mexico (where Mexico City and Santiago de Querétraro are located), according to the World Bank, the GDP per capita amounts to 11,496 dollars; in Chile, $15,355; in Costa Rica at 13,365 dollars; in Brazil (where Brasilia and Campinas are located) at 8,917 dollars; in Uruguay at 20,795 dollars and in Argentina at 13,650 dollars.

A refined and futuristic municipality

Despite the indisputable results of the Mexican city of Monterrey at the top of the ranking, achievements of style, architectural and cultural development, one could say that it is not the place but the richest place in Latin America. It is, in fact, one of the suburbs of Monterrey, called San Pedro García Garza.

With 70 km2 and 132,169 inhabitants in 2020, the municipality of San Pedro García Garza appears in first place in many rankings, such as that of the consultancy firm Fitch.

He describes it as a headquarters for corporate, financial and commercial services and assures that “it is considered one of the most developed municipalities in Mexico with one of the best levels of per capita income and average years of education in the country”.

Although Fitch does not venture numbers, some publications estimate that it was almost unknown in this city until a few years ago GDP per capita could reach $60,000.

And the data is not surprising. Worthy of an obvious elite, San Pedro García Garza has everything from impressive residences, hospitals, schools and luxury shops, to the second tallest building in Mexico, the KOI Tower, a 67-story building 280 meters tall.