Feature of the Month: Central American Outlook
Central America contains seven countries: Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama. All seven economies are considered part of the developing world and have long relied on the agriculture industry, but in recent years most of the region has focused on improving infrastructure to promote economic growth and development.
A well-known story from Central America is the expansion of the Panama Canal. Completed earlier this year, the new lock system has allowed for much bigger ships to pass through the Central American country, increasing revenues for the Panamanian government. Nicaragua, which has the region’s lowest GDP per capita, has seen some of the regions highest economic growth in recent years, along with increased foreign investment. And in Belize, economic growth has been hampered in 2016 due to a variety of factors, including Hurricane Earl in August and continued low oil and commodity prices.
For the region as a whole, many countries in Central America have begun to look outward for increased trade opportunities. China has led investment projects in several Central American countries, while the European Union has tried to build on a 2012 Association Agreement over the past several years. To learn more about how central bank regulations are impacting trade and economic growth in the region, make sure to check out part 3 of our November blog series!
Featured Resources
Economic Commission for Latin America and the Caribbean (ECLAC)
The Economic Commission for Latin America and the Caribbean (ECLAC) contributes to the economic developments in Latin America, reinforcing ties among countries and other nations of the world. This site includes publications and studies, event listings, press releases, and statistical information. Some publications are available electronically in the ECLAC library for a pay-per-article subscription.
Kwintessential Language and Culture Specialists
Kwintessential includes several useful tools, including several language tools (language identifier, popular phrases, translation guides) as well as several culture related guides (doing business in guides, expat relocation guides, and business etiquette around the world) for a number of countries.
Featured Academy
Doing Business in Latin America
The Latin America module provides one with an understanding of: the enormous potential for doing business in Latin America, as well as the barriers to conducting business there; the history and importance of Mercosur to business in this region; the cultural environment; steps taken to improve the economic well-being of this region; techniques, tactics, and tips to help when negotiating in Latin America; and sale or purchase expectations when making a business trip. Also included is a case study on Central America and the Caribbean islands.
Global Market Opportunity Assessment
The Global Market Opportunity Assessment module informs one on the following issues: why it is important to assess global market opportunities; how companies conduct market opportunity assessment; what makes market research effective; practical approaches to identifying foreign market opportunities. A sample global market opportunity assessment questionnaire and a case study on Thailand’s growing importance in the global export market are also included in the module.
globalEDGE Business Beat
Book Launch of Second Shift, GM, And Lansing
Tomas Hult speaks with co-authors David Hollister, Ray Tadgerson, and David Closs. This segment is a synopsis of his series of six interviews from August 2016, at the time of the the launch of Second Shift, The Inside Story of the Keep GM Movement.
