Latin America – The new land for doing global business?
Even one of the global leaders in economy, China, is getting “hungry” for Latin American products. Experts note a change in global economy towards the improvement of the economy in countries which we still consider as unknown in global importance. In accordance with the Global Competitiveness for 2012-2013 three countries of Latin America are ranked in the middle of 144 countries worldwide.
Due to international trade agreements and more governmental investments in the own economy the Latin American market gets more open to the global market. The booming economy and its growing potential also attracts many companies from abroad to settle down in Latin America e.g. Siemens or Henkel. This process establishes more employment in the bigger cities and creates a higher amount of money available for the Latin American economy. The motivation of people to work hard for the improvement of their economy really fascinated me and gives me the impression that the goals Latin America is setting for their future – becoming more of significance in global economy – can really be achieved in the next decades.
Of course, there are still many challenges that Latin America has to master like the existing corruption in governmental positions, the high poverty and social problems. What we see on TV about governmental plans is still a dream world. Although the living standard is improving a lot I could still see many social problems and people working hard every day to earn a few dollars in the end.
“After sitting on the couch for a decade, getting fat on Chinese largesse, it may be time to lose a few pounds, starting with some self-imposed fiscal austerity.” John Price, managing director of Americas Market Intelligence
But with the support of foreign investments Latin America can make a change for the better and become more important in the global market. People are working for their dreams and I am sure that there will change a lot in Latin America in the next decades.
I have experienced Colombia by myself and I also saw the enormous economic potential there and how German companies were establishing their market there. It is interesting to see how such countries are more and more taking part of the global economy. So why not try something new and invest in Latin America instead of common China or Europe?