Doing Business in Latin America?
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- Doing Business in Latin America?
Published on Friday, April 5, 2024
Kreston Global in Latin America
Kreston Global Latin America spans 17 countries, 25 firms and over 1200 staff. Ranking as the 15th largest global accounting network in Latin America according to the International Accounting Bulletin, our firms support the millions of small to medium enterprises in the region.
As Latin America enters an election year in five of the 21 countries, the anti-incumbency wave is expected to subside, with at least four of the ruling parties expected to win. This political landscape, influenced by voter disillusionment and the popularity of some leaders, will be crucial for businesses and investors to monitor. Our experts share their thoughts on the developments and the impact it may have on doing business in the region.
Economically, most of the region is poised for growth in
2024, with central banks easing monetary policy more
aggressively than their developed-market counterparts.
This proactive approach aims to bolster GDP growth, though
challenges remain, particularly from tight monetary policies
in developed economies that could dampen demand for Latin
American exports.
Nearshoring remains an opportunity, especially for Mexico, Panama, and Costa Rica, which are set to benefit from US- led efforts to realign supply chains. Investments in critical minerals and infrastructure projects are also expected to drive growth across the region. However, there is a continuing slowdown in the US, which may impact Mexico’s growth prospects despite a recent investment boom driven by nearshoring.
If you are currently exploring doing business in Latin America, our experts, with a clear view the region’s opportunities and challenges, offer critical insight in our latest regional overview.
For more information please contact us at contacto@krestonbsg.com.mx
