It is encouraging to know that recent economic growth projections for the Central American region range between 3.5% and 5% GDP growth for 2024. These percentages reflect a series of positive factors, including the dynamism of exports, the recovery of domestic demand and the boost in private consumption, which are contributing to economic growth in the countries of the region.
It is important to highlight that the projections vary between countries, reflecting the particularities of each economy and the various factors that influence its performance. For example, Panama leads the region’s progress with a 5% growth projection according to the World Bank. Then follows the Dominican Republic, for which the Economic Commission for Latin America and the Caribbean (ECLAC) estimates that it will close 2024 with a growth of 4.1%. Costa Rica, Guatemala, Honduras and Nicaragua show favorable expectations with projections of approximately 3.5% according to the International Monetary Fund and ECLAC, while El Salvador shows a solid growth rate of 2.8% according to the World Bank.
The aforementioned data, added to the geographical location of these countries, which is ideal and strategic with access to key markets and important trade routes, seems to me that it offers an additional competitive advantage for companies seeking to expand in the region.
At Central Law, our team of legal experts has the essential specialists needed to effectively translate investment intentions into reality within the region, ensuring a robust legal framework to drive success and profitability in operations. Our communication channels will remain vigilant, keeping potential investors in the region informed about legal updates.
Rafael Quirós
Partner
Source: Bloomberg en Línea
