Regional Spotlight: Latin America
Latin America is evocative of a region rich in culture with an enviable climate and access to diverse and dynamic industries across emerging markets. Despite this, over recent years the perception of Latin America as a location for successful international business has been hardened by political and economic instabilities throughout the region. The economic crises in Argentina and Brazil, and the latter’s political woes following a period of turmoil throughout President Dilma Rousseff’s impeachment last year, have created perceived barriers to entry in the region. As a result, inflation rates have soared and local currencies have plummeted against the dollar, pound and euro.
In truth, there could be no better time for foreign nationals to seek positions and for international businesses to move into the region. Recent challenges have created a more economically viable and prosperous location for overseas investment. Due to the devaluation of local currencies these countries have become significantly more cost-effective to operate in for foreign individuals and businesses. Brazilian and Argentinean industries continue to rally against economic downfall, and China’s new rate of investment to establish super ports and boost trade along Chile’s vast coastline is paving the way for Australasian and Asian imports and exports.
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