Market Research In Haiti
Haiti is a nation in the Caribbean located on a large island called Hispaniola. It occupies the western third of the island, with the Dominican Republic located on the eastern side. It is the third-largest country in the Caribbean by area and has a total of 11.5 million people. Thus, it has surpassed Cuba as the Caribbean’s most populous country. Port-au-Prince is the capital. Haitian Creole is like French, and it is the country’s most popular dialect.
Haiti has a free-market economy with cheap labor costs. Many Haitians rely on farming for a living. The country also boasts an agricultural export sector. Agriculture, forestry, and fisheries account for around a quarter of Haiti’s annual GDP. These industries employ over two-thirds of the workforce. Haiti also has a robust mining sector. Miners dig for minerals such as bauxite, copper, calcium carbonate, and gold.
In Haiti, crime is common in all forms. Yet, Pétion-Ville appears to be the safest option. Pétion-Ville is a part of the city of Port-au-Prince, located on the eastern hills of the Massif de la Selle. The district serves as a home and tourist spot. Almost 100,000 new people have settled there over the last twenty years. The population now stands at 377,000. Also, In Pétion-Ville, many envoys, owners of foreign companies, and rich folks do business and live.
The 2010 earthquake ruined many homes and office buildings. As a result, home and real estate prices have surged. In this “disaster economy,” there is a push to make immense riches by charging high rents. Some Haitians are lucky enough to own property that is still in good condition. They, of course, have an advantage.
Benefits And Strengths In Market
One of Haiti’s most valued assets is its often bilingual labor. The country’s population is also relatively young, with a strong need for work. In addition, the regional and local power supply is one of the emerging businesses in Haiti.
This country has several hoops to get over. Still, there are chances for small-to-medium-sized US firms in the Haitian market. The cosmetics, grains, poultry, devices, and transportation industries have the export potential for US companies.
A recent study on Haitian buyer preference was in part related to online shopping. The researchers surveyed to find out whether Haitians buy online. The sample consisted of people reached via the “snowball” method. The study showed that Haitians still hold a dim view of online shopping. They still seem to prefer traditional shopping. The study shows that various social metrics have an impact on online buying in Haiti. These metrics include gender, income, and education.
Reasons to do Business in Haiti
- Haiti has preferential access to the markets of 17 developed countries.
- Through the HOPE II and HELP legislation, the garment sector has duty-free access to the US market.
- Also, broad cellular coverage and connectivity are available.
- The country has a large labor force of people willing to work. More than 50 percent of the labor force is under 30, and Haiti has a large pool of English, French, and Spanish speakers.
- There are daily flights from the United States to Port-au-Prince and Cap Haitien. You can also get domestic flights.
Market Research In Haiti
Doing quantitative, qualitative, and strategic research is critical. Other central needs are focus groups, interviews, and surveys. These tools can expose the customer’s true feelings. and thoughts. Also, in Haiti, the step of entering the market is like that of many other countries. To begin, you must first go to the country. During a visit, your company can create valuable industry ties. These relations may be helpful to aid you in succeeding in the market.