LATIN AMERICA LAND OF OPPORTUNITY

Potential market

(posted on 20/03/2019)

Promosalons began its collaboration with Latin America back in 2003. The objective: to raise awareness of this Spanish-speaking region and to give Promosalons shows access to a vast market of over 210 million consumers.

The Latin America region covered by Promosalons comprises ten countries in Central and South America: Argentina, Chile, Colombia, Costa Rica, Ecuador, Paraguay, Peru, the Dominican Republic, Uruguay and Venezuela. The region is rich in energy, agricultural and mineral resources.

Venezuela, for instance, boasts the world’s largest crude oil reserves and ranks fourth in the world for natural gas. The world’s eighth largest country, Argentina, is the tenth largest exporter of agricultural products. Substantial gas and shale petrol reserves have also been found there. The region is also noted for its booming tourism and services sectors. In Colombia, for example, the tourism sector grew by 95% between 2010 and 2016!

In international trade, the countries in this region like to do business with their Spanish-speaking neighbours, as well as with Brazil, the US, Canada and China. But the EU is also a key partner for the region, encouraged by the various free trade agreements that have been signed since 2013.

One such agreement has been signed jointly with Peru, Colombia and Ecuador and another with Central America (including Costa Rica); discussions are underway with Chile. These agreements open up opportunities in the services sector (call centres, digital technologies and back office), life sciences (biotechnologies, medical devices), green technologies (solar and wind energy), advanced manufacturing (aerospace and electronics) and infrastructure (roads, ports and airports), for example.

The socio-economic situation varies from country to country. Venezuela is in profound crisis, while Argentina is again facing serious financial and economic difficulties. Other countries, like Chile and Colombia, are enjoying stronger growth, with rising living standards and consumption but all have the potential to offer high-calibre visitors. The task of the Latin America region is to help shows leverage this potential.

Coordination delivers effective solutions

The role of our Latin America region is to enable show organisers to work more effectively with the ten countries it encompasses. The coordination work led by Venezuela country manager, Federico Jimenez, channels the dialogue and ensures seamless communication with these ten countries.

Member shows benefit from joint proposals or sector analyses prepared jointly by different countries. The co-ordinator is responsible for meeting deadlines and drafting clear, precise and realistic proposals, as well as for ensuring the shows’ communication materials are coherent and up to date. The synergies developed within the region enhance performance: new managers receive the necessary training and support. Local offices share information and experiences, mainly through meetings and seminars.