The economic potential of Latin America is undeniable. It is an area with a great wealth of human and natural resources. During the worldwide recession, Latin America displayed a surprising dynamism and did not devolve into crisis. Ongoing societal and economic rehabilitation continues as the area pushes towards increased competitiveness and productivity and towards the further alleviation of poverty.
Economies in Latin America are increasingly characterized by high growth rates, abundance of commodities and resources, increasing stability, and growing populations. With rapid development, Latin American markets may present a number of strategic questions for some companies.
Some growing industries in Latin America include Consumer Goods, Food and Beverage, and Retail, due to the rising per capita income in many of these countries. Another rising industry is construction and real estate due to the heavy emphasis on building infrastructure. Tourism is increasingly showing an upward trend, which can become a major part of an economy’s GDP every year.