Florida is ideally positioned to take advantage of growing markets in Latin America and the Caribbean. With US companies keen to tap into emerging markets, it makes sense to create bonds and forge new deals. Statistics show that trade between companies based in Miami and those located in Latin America is growing by more than 10 percent per year. Most notably, markets in Mexico and Brazil are booming, accounting for up to 80 percent of demand for trade. Mobile communications is an industry that is on the up across the region, with an increase of 50% in purchasing power among the middle classes in Latin America in the last decade indicating a significant increase in phone ownership. As the infographic suggests, this is a market that is set to strengthen, with a predicted subscription level of 1,170 phones per 1,000 people in 2020 compared to the current figure of 810 per 1,000 people. Brazil boasts the largest market with an expected 259 million subscriptions by 2020. Communications is not the only expanding market. As you can see from the infographic, the aviation industry is also growing. Between 2011 and 2012, industry exports increased by 11.7 percent and it is estimated that Latin America will need an additional 2,000 passenger planes to cope with demand in the next two decades. The value of the healthcare industry has also increased, with an extra 73 million people able to afford to access private treatment in the last decade.
With industry growth across the board, companies based in and around Florida are ideally situated to profit from strengthened ties with Latin America.
Infographic design by VoiceOnyx
