Here’s a list of the top 5 countries in Latin America to invest and do business.
Latin America is a region that has experienced great growth in the past couple of years and has become very attractive to investors and people looking to do business.
The World Bank analyzed the economies of 189 countries to determine which ones offer the best environment and conditions to do business.
To obtain the results, the World Bank considered the following steps necessary to start a new venture.
- Starting a business
- Dealing with construction permits
- Getting electricity
- Registering property
- Getting credit
- Protecting minority investors
- Paying taxes
- Trading across borders
- Enforcing contracts
- Resolving insolvency
The 5 countries in Latin America that received the best scores were Mexico, Chile, Peru, Colombia and Costa Rica.
This Central American country got the best scores in all of Latin America, ranking at 47 on the global list.
Reforms made by the government during the past year helped this country move up the ranking.
Mexico scored big points in the “Getting credit” category.
Chile was the country in Latin America that scored the most points in the global competitiveness index.
The competitiveness index measures the countries’ ability to provide high levels of prosperity to their citizens.
This ability depends directly on the productivity with which the country uses its available resources.
This country moved up the ranking by making reforms to facilitate the process of tax payment for businesses.
Peru also showed improvement in the categories of “Dealing with construction permits” and “Registering property.”
Out of all the countries in Latin America, Colombia showed the greatest improvement in creating an optimal environment for businesses.
One significant change that occurred in Colombia was that the number of payments required to make a tax return was reduced from 70 to 11.
5. Costa Rica
This nation was the one that showed the most improvement in implementing reforms to make the country more attractive to businesses.
Costa Rica also improved in the categories of “Dealing with construction permits” and “Getting electricity.”
Over time Latin America has taken an increasingly central and relevant role in the global economy.
When choosing a country to do business is very important to take into account all these factors to make a more informed decision.
Finally, we would like to emphasize the importance of supporting the Latin economy by doing business with Latinos.