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Advantages of doing business in Guatemala

Advantages of doing business in Guatemala

by Legal Team Guatemala | Oct 16, 2020

Guatemala has experienced significant growth over recent years, turning it into one of the most competitive markets in Central America and a popular destination for investment in the sub-region. Find out about the advantages of doing business in Guatemala. Annual economic growth has only dropped below 2.5 percent on one occasion since 2000, according to the Bank of Guatemala (pdf), while the country's international commerce represents more than 30 percent of Central America's total imports and exports. The government has made great efforts to stimulate Guatemala's foreign direct investment (FDI) and trade with key regional players, and has reached free trade agreements with numerous other Latin American countries, including Colombia, Costa Rica, the Dominican Republic, Honduras, Panama, and El Salvador. Under such conditions, more and more investors are becoming aware of the advantages of doing business in Guatemala. Doing business in Guatemala: geographic location Location encourages doing businesses in Guatemala Guatemala is located in the northern part of Central America and borders Mexico and Belize to its north. As such it forms something of a gateway between North America and the rest of Central and South America. With coasts on the Pacific Ocean and Caribbean Sea, Guatemala also has five important maritime ports, as well as two international airports, providing attractive logistics to commerce. According to data from the Bank of Guatemala, in 2018 the Central American country and Mexico had a commercial exchange that amounted to $238 billion (USD). Meanwhile,...

Doing Business in Ecuador: Business Summary

Doing Business in Ecuador: Business Summary

by Legal Team Ecuador | Feb 16, 2019

As businesses across Latin America and indeed around the world look for new opportunities in 2019 and beyond, expanding into new markets is often considered one of the best options for growth and long-term profitability. But deciding on the right market for your expansion can be tough, as there are countless factors to take into consideration before you can ensure a return on investment and commit to operating in a country on the other side of the world. Below, we offer a summary for doing business in Ecuador, share its most profitable and valuable industries, and discuss the future of the country’s economy. Doing Business in Ecuador's economy With a GDP of USD$103 billion and positive economic growth ranging from 0.1% to 5% over the past five years, Ecuador is a country on the up. Thanks to low unemployment in the country (latest figures put Ecuador’s unemployment figure at 5.4%) and a growing GDP per capita of USD$6,143, the country boasts an increasing middle-class citizenship, with many of its citizens having high levels of disposable income, meaning that there is a market for luxury goods and services. Inflation in the country has remained low, from a recent peak of 3.7% in 2014 to as low as -0.2% in 2017, which is good for consumers and for businesses. Annually, the country exports more than USD$19 billion worth of goods and services to other countries around the world, and imports a similar amount (in 2017, the country imported USD$20 billion worth of goods and services, but that figure has been as high as USD$27 billion in recent years) to appease rising consumer...

Possible Options on Venezuela – Part 1 of 3

Possible Options on Venezuela – Part 1 of 3

by Team Latin America | Feb 12, 2019

Editor’s note: As a private citizen, Steve Salisbury has provided observations to United States high-ranking officials of both Republican and Democratic administrations. Salisbury played what could be said was a key role as a de facto precursor “intermediary” between US officials and Colombia’s FARC guerrilla group before the naming of a US presidential special envoy to the peace process between the Colombian government and FARC, which together signed a peace accord in late 2016. The report in three parts herewith is an edited, expanded version of one that Salisbury wrote and sent recently to US State Department senior officials and other US inter-agency officials who cover Venezuela. Click here for About the Author. Introduction - Options for Venezuela  While Venezuela’s Nicolas Maduro is on much shakier ground following new rounds of massive street protests and marches of hundreds of thousands of Venezuelans against his delegitimized and increasingly internationally unrecognized de facto regime after Venezuela’s 2018 presidential elections were widely denounced as being rigged and a sham in light of major opposition candidates being barred or boycotting and complaints of voting irregularities--and while Venezuela’s National Assembly President Juan Guaido invoked a Constitutional article to assume a “transitional presidency” of the country and has been recognized by the United States, the United Kingdom, Brazil, Colombia and a growing number of countries and whose transitional government appears to be gathering more support--recent events in Venezuela are so far no...

LATAM Business Opportunities: Panama, Costa Rica & Nicaragua

LATAM Business Opportunities: Panama, Costa Rica & Nicaragua

by Team Latin America | Feb 27, 2018

In one of our most popular articles from last year, we explored some of the most exciting business opportunities in LATAM for three of the region's biggest economies: Argentina, Mexico, and Chile. In this article we continue the series turning our focus to the often overlooked but prospering Central American nations of Panama, Costa Rica and Nicaragua. LATAM business opportunities: the Panama powerhouse Panama has indisputably been one of the fastest growing economies in LATAM over the past few years. It recorded an average annual GDP growth of 7.2 % between 2001 and 2013, including a stable 4% growth in 2009 during the international financial crisis while its neighbouring countries were stagnating economically. Its economy, characterised by the Panama Canal and the US-Dollar as its currency, boasts a highly developed service sector which accounted for 75% of GDP in 2017 and proved to be its main driving force. The canal itself makes up 10% of GDP, similar to its agricultural sector. Other essential contributors are the Port Colon Free Trade Zone (CFZ) as well as the Trans-Panama pipeline and a large logistics and storage service sector. The large amount of public investment in recent years bore fruit with the creation of 280 thousand jobs and the reduction of general poverty from 21% to 17% between 2011 and 2015. Following an average investment of 45% of GDP over the past 5 years, the government is predicted to continue implementing projects to secure further sustainable growth. A Highly Diversified Investor's Paradise? The government’s ongoing 5-Year Strategic...

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