Part 1: What Does the Market Look Like?
We live in a globalized world with a globalized economy, and within that globalized economy are different markets, each of which represents the trends of local commerce and consumer buying patterns. When considered together, however, these markets paint a picture of regional commerce. And when it comes to the region of Latin America, the winds are certainly in favour of businesses looking to expand into this emerging region.
For far too long, the focus of business expansion has been on Europe, North America, or the Pacific in places like Hong Kong, China, and Singapore. Now, it has become increasingly clear that Latin America is providing businesses with a favourable business climate that is entirely conducive to economic expansion, and that’s certainly a new development worth talking about. In this comprehensive, 3-part series, we’re going to get to the root of the question of expanding into Latin America. We’ll talk all about the market, the potentialities, and the challenges that businesses might face.
To start, we’re going to dissect the current Latin American market. We’ll look at the different ways in which individual countries are emerging faster than others, and we’ll point out some key considerations that business owners and corporate leaders need to bring to light when designing their expansion strategy.