Brazil Vs Colombia Fifa World Cup Brazil 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 colonization, starting with Christopher Columbus and the journeys of Hernando Cortes and Francisco Pizarro, foreigners have always been close to the countries of the Western Hemisphere. It still holds true today, even though the days of conquest are long gone. The region is one of the most valued markets in the world and with many of its countries encouraging foreign investment, it may be the best time to get involved in business development in Latin America. All kinds of international companies as well as start-ups are choosing to set up shop in Central and South America. Here are the four best regions for business.

Brazil

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

Panama

Panama’s economy has always been linked to its strategic location and the Panama Canal. This is still true today, however, in terms of business development in Latin America, Panama is one of the leaders in the region. She established the Colon Free Trade Zone, which became the largest free trade zone in the Western Hemisphere. Companies that do business in the free trade zone receive a variety of benefits from the Panamanian government. These incentives include corporate tax breaks, no income tax and no estate tax. Businesses looking to expand should give Panama a good, hard look.

Colombia

While Colombia doesn’t seem to be making the nightly news as a world business powerhouse, that may soon change. After recovering from the 1999 recession, the Colombian economy expanded rapidly, and the GDP is now the third highest in South America. The country is rich in natural resources such as oil and coal and is the world’s leading source of emeralds. With a population of more than 47 million and technology expanding across the country, Colombia has the potential to become a major player in the region’s economy.

Argentina

It is one of the world’s largest G-20 economies. Argentina has always been a major 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 increased by 27 percent in 2012. Manufacturing is the largest sector of the national economy, with most of it taking place in the Buenos Aires area. Almost 60 percent of households in the country have access to the Internet, the highest in the region, and this number will continue to grow.

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