For decades a large part of Latin America was an area of the world known for hyperinflation and political instability – the last region of the world in which to conduct business. Today, Latam has grown on a global scale, its diverse appealing destinations and growing businesses stand out to investors who want to expand and take their investment portfolios to the next level.
Four nations, in particular, are prospering in leading the market in this often overlooked part of the globe:
- Colombia is one of the greatest producers of Arabica coffee beans in the world.
- Peru is ‘pro-development’ regarding their mining sector.
- Chile leads the way in non-conventional renewable energy sources.
- Mexico has claimed to be the 7th largest automotive sector in the world.
Like most emerging regions, Latin America has two fabulous demographic attributes that developed countries can only dream of significant population growth and a growing middle class, meaning a lot of young families are buying a wide range of products and services.
Currently, the local economy is primarily based on its service sector, including financial services and telecommunications. One look into 2020 and beyond; tourism, real estate and agriculture are sectors poised to experience solid growth.
Colombia offers investors a positive business environment, a thriving added-value services industry, a highly qualified workforce, and a strategic geographical location to engage in business operations both inside the country and all over the world.
In addition, foreign ownership is allowed and encouraged in Colombia while there are limited capital controls and local companies are able to sponsor the work visas of foreign employees.
Many international bodies, such as Standard & Poor’s, Moody’s & Fitch and the World Bank, identify Colombia as a trustworthy partner. Colombia, with its high investor confidence, is a relatively stable economy with a thriving entrepreneurial spirit. The country simply holds many competitive advantages when it comes to agricultural production and exports.
Latin America continues to grow as a region full of commercial opportunities and with limited barriers for entry. Foreign businesses from around the globe have experienced commercial success in the region and new businesses are entering the various markets at an astounding rate to take advantage of all Latin America has to offer.