Up until 2016, Pereira has been an epicenter of massive urban redevelopment with many international companies opening new stores, factories, and logistical centers. The unemployment rate has decreased significantly from being one of the highest in the country, to the national standard of 9%. Pereira is beginning to transform into the capital city of the Coffee Axis or Eje Cafetero region, with many residents from neighbouring cities such as Armenia and Manizales coming to Pereira to shop for goods in stores that are unique to Pereira.