The Island doesn’t have any of the advantages offered by Mexico, Colombia or Chile
14ymedio, Madrid, April 11, 2024 — Although Spain is one of the main sources of foreign investment in Cuba, things change if the situation is turned around. Only 2% of Spanish companies with a presence in Latin America invested in Cuba in 2023, and the main reason is the Island’s “deficient infrastructure.”
The data appear in a report on the Spanish Investment Panorama in Ibero-America 2024, presented this Wednesday at Casa de América (Madrid) and prepared by IE University, Auxadi and Iberia. It shows that the Island is at the tail end of countries in Europe that receive investments from large Spanish companies and private entrepreneurs. The list is headed by Mexico, with 82%, followed by Colombia (75%), Chile (63%), Peru (55%) and Brazil (53%).
The outlook for this year is not encouraging, since Cuba and Venezuela are once again “among those that will experience a more complicated economic situation” in the opinion of the Spanish businessmen, who have added Ecuador to that group, due to the outbreak of violence in the country in the last two years. The Island is, in this case, ahead of Venezuela, with a 2.4 out of 5 in confidence in improvement.
The outlook for this year is not at all flattering, since Cuba and Venezuela are again “among those that will experience a more complicated economic situation”
Argentina improves its perspective with a 2.77 rating because of the “expectations of change that the new administration has generated, although the coming adjustment will make the next quarters very difficult.” But Mexico (3.6) and Chile (3.4) are still in the lead.
To prepare the report, entrepreneurs have been asked what are the main threats or risks that their companies face in Latin America. The majority (84%) have pointed out political instability, an area in which Colombia, Peru and Argentina stand out. This is followed by the exchange rate, where the same three countries also rate poorly, and citizen insecurity, especially in Mexico, Ecuador and Brazil. They are also concerned about legal uncertainty, especially in Venezuela, Mexico and Argentina, and the economic slowdown in Brazil, Venezuela and Costa Rica.
Finally, 18% pointed out
