Latin America - An Emerging Economic Giant
Latin America, and not just Brazil, is currently one of the fastest growing economic regions in the world with many countries already towards the top of the tables.
At a 2008 Sloan/MIT conference on Latin America, the philosopher Noam Chomsky dubbed the region “the most exciting area in the world”. And that was 2008. The combined GDP of the region now totals $5 trillion and in 2011 the unemployment rate reached an historic low of 6.8% (Europe’s in the meantime was 10%, whilst the US was at 8.5%). At a time when Europe is facing a worsening crisis, Latin America’s economy continues to grow.
Latin America’s economic boom has led to innovation across numerous industries – including exciting developments in the online sector. Like Ombushop, a company providing solutions for creating e-commerce sites. Or MercadoLibre, an Argentine company, and the largest e-commerce site in Latin America.
The region’s growth and innovation should not only be cause for celebration by Latin Americans rising into the global middle class, but also for the rest of the world.