Southern Chile economy is booming
The Southern region of Chile has the most dynamic and fastest-growing economy in the country.
Magallanes region in the extreme south of Chile, was the most dynamic of the country’s economy during the third quarter of the year according to the latest release from the local stats office, INE. This contrasts with the rest of the fourteen regions of the country of which six, reported negative growth.
The Regional Economic Activity Indicator, Inacer, showed that in the third quarter, the regions of Magallanes, Aysén, Los Lagos and Los Ríos expanded at an annual rate of 7.3%, 5%, 6.9% and 4.2% respectively.
Based on the latest quarter data and previous stats, this year the southern regions of Chile have been the most dynamic in economic activity, contrary to what has been happening in the regions of the north of the country.
In effect the region of Tarapacá which fell back 11.5% can be considered a ‘depression’ area while the others in mild recession: Atacama, contracted 5.5%: Arica and Parinacota 0.3%; Valparaíso, 0.8%; O’Higgins, 1.5% and Maule, 1.1%.
According to Incer the success of Magallanes can be explained in the increased Atlantic salmon production, and coal extraction.
Contact the Gateway to South America team to learn about the best investment opportunities in the region. The company is a benchmark for foreign investors wishing to invest in Argentina, Brazil, Chile, Paraguay, Peru and Uruguay, providing expert advice on property acquisition and investment tours.
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Gateway to South America was established in 2006 as a single office in Buenos Aires. The company has since expanded into a vibrant regional network, servicing the Southern Cone communities of Argentina, Brazil, Chile, Paraguay, Peru and Uruguay with professional real estate services. Founded by Geoffrey McRae a New Zealander who maintains an active role in the business it has developed into an International team that has a well-deserved reputation for strong local knowledge, experience and professionalism. I hope you enjoy reading our news site. Please share it on your social media below.