Growth of Latin America’s middle class confirms region’s huge FDI potential
The middle class in Latin America and the Caribbean has increased by 50% over the past decade, according to a new report released this week by the World Bank. This impressive statistic is further proof of the business opportunities awaiting foreign investors positioned to serve this rapidly growing region.
Trinidad and Tobago registered the highest average annual per capita GDP growth in Latin America and the Caribbean between 2000 and 10 at more than 5% (Figure 1.1, page 19). This dynamic island economy has forged ahead to become one of the most competitive economies in the region and is ideally suited to host companies seeking a regional base.
The report, called “Economic Mobility and the Rise of the Latin American Middle Class’’, found that the middle class in the region grew to an estimated 152 million in 2009, compared to 103 million in 2003.