South America as

Gabriela Castro ‏@UKLatinAmerica 3h Entonces el Times de Londres me publicó un artículo y yo NUNCA me enteré http://www.thetimes.co.uk/tto/public/aiminghigh/article3250628.ece … @ricpei @gmalvasio @GRochaOlivera Responder Retwittear Favorito Más The Times of London ------------------------------------------------------------------------------------------------------------------------------------------------------------South America as you’ve never seen it before Brazil is one of the top five global producers of mobile phones, microwave ovens, soft drinks, washing machines and cars DOUGLAS ENGLE Print Share via Facebook Twitter Google+ Brazil is one of the top five global producers of mobile phones, microwave ovens, soft drinks, washing machines and cars Brazil is one of the top five global producers of mobile phones, microwave ovens, soft drinks, washing machines and cars DOUGLAS ENGLE Gabriela Castro-Fontoura Last updated at 12:00AM, December 19 2011 When someone mentions South America to you, what is the first thing you think about? Caipirinhas? Carnaval? Gauchos and beaches? Think again. South America has grown out of those stereotypes. This rich and vast continent is now the target for foreign firms, who want to escape the stagnation of more traditional markets in Europe and North America, and even in Asia. South American countries are growing year on year, and so are its middle classes – and their consumption. A good indicator of this growth in consumption is that the number of credit and debit cards in circulation has increase in Brazil by 11 per cent in the last year – there are now 628 million cards in Brazil. The opportunities are enormous. South Americans want to consume to world standards. BlackBerry smartphones are popular across the continent, but protectionist measures make them a challenge to buy them in many countries. Recently, the Argentinean government announced that BlackBerrys to be sold in the national market will have to be produced in-country, and BlackBerry’s producer RIM quickly agreed to assemble the phones in Tierra del Fuego, in the south of Argentina, given tax incentives. This move has demanded an investment of 23 million dollars, and it will result in an annual production of 750,000 units. Luxury retail is also growing – from Aston Martin and Rolls Royce dealerships, to Louis Vuitton and Emporio Armani stores – clear signals of the increase in purchasing power and aspirations. The continent is also producing, but although there is heavily reliance on commodities like soy, coffee or beef, most people would be surprised at the international role that South American countries play in other sectors. Brazil is one of the top five global producers of mobile phones, microwave ovens, soft drinks, washing machines and cars. Also, the continent is exporting heavily, with Brazil estimated to reach a record trade surplus this year of approximately 30 billion dollars. Outisde Brazil and Argentina, Colombia achieved the coveted investment-grade status by Fitch and Standard and Poor’s early in 2011. Panama is attracting huge amounts of foreign direct investment; the Trump Tower Panama being a good indicator of the belief in this small country’s performance. One of Uruguay’s Free Trade Zones, Zonamerica, recently won an intercontinental prize and the site has attracted world-wide companies including Deloitte, Merrill Lynch and KPMG. Chile is now long-established as a great country to do business in. As South American markets grow, the continent is now being taken seriously as a place to do business with. With more stable governments and macroeconomic policies, could this be the hub of the future?