Multinational executives are bullish about Latin America, especially Brazil, Colombia and Peru.
BY JOACHIM BAMRUD
Strong optimism reigns among foreign and local multinationals operating in Latin America, according to a Latin Business Chronicle survey of executives at a dozen firms.
“I am more bullish than ever about Latin America,” says Alvaro Diago, Chief Operating Officer, Latin America and Caribbean for UK-based InterContinental Hotels Group. “While North America and Europe were devastated by the global recession, Latin America held its ground. With countries like Brazil and Colombia – key economic drivers – enjoying GDP increases in 2010, I believe much of the region is poised to continue its positive growth.”
US-based Dow, which posted Latin America sales of $5.2 billion in 2009, expects double-digit compounded annual growth in the region. “Latin America on a whole represents an emerging economy with booming internal markets generating consistent profitability for Dow,” says Pedro Suarez, Latin America president for the company. “This growth represents a significant portion of organic growth stimulated by strong geographic fundamentals, and also the top line opportunities due to Dow’s acquisition of Rohm and Haas.”
Woods Staton, President and CEO of Argentina-based Arcos Dorados, the world’s largest McDonald’s franchisee, also is upbeat. “Latin America is one of the most attractive regions for ...
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