South American Real Estate News

Paraguay is rated the best place in the region for business, according to says Latin American Economic Climate Index (ICE) 

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The Latin American Economic Climate Index (ICE) released this weekend by Brazil’s Getúlio Vargas Foundation (FGV) highlighted Paraguay as the Mecca for regional business ventures, given the country’s outstanding performance.

The FGV report highlights that, despite the increase in their indexes, other countries remained in the unfavourable zone (below 100 points): Peru (85.3), Colombia (72.8), Chile (72.7), and Ecuador (42.2). Meanwhile, Argentina climbed from 26.1 to 41.7, with the first economic measures announced by President Javier Milei. Bolivia remained at the bottom of the list with 20.8 points.

According to the report, the business climate in Latin America reached its best level in the last 11 years during the first quarter of 2024, achieving a milestone not achieved since the first quarter of 2013.

It was also explained that it was the first time since 2018 that the index remained two consecutive quarters within the so-called favorable zone, with more than 100 points.

The study notes that Brazil’s improvement from 100 points in the last quarter of 2023 to 114.6 in the first quarter of 2024 drove the improvement in the first quarter.

In this scenario, Paraguay tops the list with 154.6 points, followed by Uruguay with 139.4 points and Brazil with 114.6 points, as the business climate improved in the entire region except Mexico and Chile, where declines were detected. Paraguay is projected to grow the most this year, with an expansion of 3.9%, followed by Uruguay (3.2%) and Mexico (2.8%). The study also showed an upward revision of GDP growth projections for 2024 in Uruguay, Chile, and Peru.

Source: The Latin American Economic Climate Index (ICE)

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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