How Many European Countries In World Cup 2014 4 Of The Best Regions To Do Business Development In Latin America

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4 Of The Best Regions To Do Business Development In Latin America

Since the days of European colonialism that began with the voyages of Christopher Columbus and Hernando Cortes and Francisco Pizarro, foreigners have always had an attachment to the countries of the Western Hemisphere. This is still true today, even though the days of conquest are long gone. This region is one of the world’s most valued markets, and with many of its countries promoting foreign investment, this may be the best time to enter business development in Latin America. All sorts of international companies, and also start-ups, choose to establish themselves in Central and South America. Here are four of the best regions in which to do business.

Brazil

Host of the 2016 Summer Olympics, Brazil is the world’s fifth largest country by population. It is the largest in Latin America and offers a large market for foreign companies looking to expand into the region. The country is one of the world’s fastest growing economies and is now the world’s seventh largest in terms of nominal gross domestic product. It will continue to grow and will be boosted by the hosting of the Olympics and also the 2014 World Cup football tournament. It is expected that the number of millionaire households in Brazil will reach 1 million by 2020.

Panama

The economy of Panama has always been related to its strategic location and the Panama Canal. This is still true today, but in terms of business development in Latin America, Panama is one of the region’s leaders. It established the Colon Free Trade Zone, which has become the largest free trade zone in the Western Hemisphere. Companies doing business in the free trade zone receive all sorts of benefits from the Panamanian government. These incentives include corporate tax breaks, no income tax and no property tax. Companies looking to expand should give Panama a good, hard look.

Colombia

While it may seem like Colombia isn’t making the nightly news as a global business powerhouse, that could soon change. After recovering from a recession in 1999, Colombia’s economy has grown rapidly, with GDP now the third highest in South America. The country is rich in natural resources such as petroleum and coal and is the world’s leading source of emeralds. With a population of more than 47 million and technology expanding throughout the country, Colombia could become a major player in the region’s economy.

Argentina

It is one of the G-20 largest economies in the world. Argentina has always been an important player in business development in Latin America with its rich natural resources and highly literate population. The country has the third largest economy in the region, and foreign investment in Argentina grew by 27 percent in 2012. Manufacturing is the largest sector of the country’s economy, and most of it happens in the Buenos Aires area. Almost 60 percent of households in the country have Internet access, the highest in the region, and that number will continue to grow.

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