![]() Fast and free shipping free returns cash on delivery available on eligible purchase. While these barriers look formidable, the good news is that all of them can be tackled with the right policies, the research suggests. Buy Building globally competitive cities: The key to Latin American growth by online on Amazon.ae at best prices. MGI found five primary barriers to raising productivity in Brazil: the large informal sector, macroeconomic factors hampering investment, regulatory constraints, inefficient public services and the country’s infrastructure. What matters most are the remaining two-thirds of Brazil’s productivity gap. The research revealed that around one-third of the difference in productivity between Brazil and the US is due to structural factors inherent to Brazil’s stage of economic development, and these will work themselves out. 11 McKinsey Global Institute, Building globally competitive. The new analysis makes clear that the chief culprit for Brazil’s underperformance has been its failure to boost growth in labor productivity-the primary determinant of a nation’s GDP per capita. 14 Improvements such as these increase the supply of talented and creative people in the economy. Together these sectors account for 37 percent of Brazilian employment and 46 percent of the country’s GDP. In order to promote innovation, BBVA Open Innovation is boosting the local ecosystem by working together with start-ups, organising events and promoting trends.Building on a previous analysis conducted in 1998 and similar MGI studies undertaken in 16 other countries, MGI compared the performance of Brazil’s economy with that of the US in eight sectors-agriculture, automotive, food retailing, government, home construction, retail banking, steel, and telecommunications. " Good ideas spread, markets expand, investors' eyes are drawn to the entire region. But this is not necessarily detrimental to other emerging hubs: "Having neighbours that attract more investment or have a greater number of start-ups benefits those of us who are close by," says Aurora Otoya, head of BBVA Open Innovation Peru. Latin America is more urbanized than any other region in the developing world, with 80 percent of its relatively young population living in cities today, a. In the years ahead, cities will be critical to regional growth. Taking a stroll through the most prominent hubsĮntrepreneurship in the region is concentrated in countries such as Brazil and Mexico and, within these, in large cities. Latin America is a bright spot in the post-recession global economy, with growth rebounding strongly in much of the region. One of the key challenges facing the region today is the need to close the gap in access to quality goods and services in cities. And among the fastest growing sectors is edtech, which raised six times more venture capital in 2021 than in 2020. And in second place, e-commerce accounted for 20% of venture capital investment in 2021. In 2021, it attracted almost $6 billion ( 39% of the total raised by start-ups in the region), and almost half of the Latin American unicorns are galloping through this sector. ![]() “There are big problems that have yet to be solved and they are the fertile ground where entrepreneurs and venture capital are sowing seeds”įintech is the market leader. "It's a huge opportunity," says Bueno, "because there are big problems that have yet to be solved and they are the fertile ground where entrepreneurs and venture capital are sowing seeds.” In Latin America, where 78% of the population is now using the Internet, new forms of technology can be the solution to the main challenges. " In 5 to 10 years' time, the growth in investment that we have been seeing, which has been 30-40% year-on-year, will continue".įor Joe Naffah, Mexican director of BBVA Spark, "start-ups are aware that it is going to be more difficult and more expensive to access capital, and that being efficient and obtaining additional sourcesof funding is key.” Through financial support, comprehensive accompaniment and open innovation, the bank's new unit will help strengthen the local ecosystem: "We want to be an 'enabler', accompanying them and giving them access to credit, which is one of the A well-taken opportunity "There are two difficult years ahead worldwide, but global capital will be available for Latin America and its entrepreneurs," says Fermín Bueno, CEO of innovation and venture capital firm Finnovista, which specialises in fintech. And although capital inflows have slowed in 2022, the outlook for the region remains promising. That same year, 18 Latin American companies achieved unicorn status (start-ups that achieve a market value of USD 1 billion before going public). Latin America has made its mark on the innovation landscape in recent years: in 2021, the region's start-ups raised a record 19.5 billion dollars in funding.
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