Latin America – Market Overview | Felipe André Isoré Gutiérrez and Hector Cubria from Conexig (https://www.conexig.com)
In this episode, we are joined by the team from Conexig to take an in-depth look at the infrastructure market in Latin America.
- Covid has significantly impacted economies across the region – with GDP expected to fall by 10% in 2020
- Across the region basic infrastructure is not fully developed. Although this creates a strong pipeline of opportunity, there are several sizable barriers preventing infrastructure delivery
- Politics dominates the infrastructure market with major international projects (such as Mexico International Airport which was in construction) being cancelled due to political pressure
- Corruption remains prevalent. The ongoing implications of Operação Lava Jato (commenced in March 2014) led to thousands of warrants and arrests across the region including Peru, Brazil, Colombia, Panama, and Mexico.
- The market is full of opportunities but it is both complicated and complex. Major international contractors have learned the hard way that local knowledge and insights are critical to success