Latin America

Despite the challenging economic climate in Colombia, personal care appliances has exhibited continued albeit moderated growth in 2023. Notably, the growth, albeit marginal, is primarily propelled by the rising popularity of body shavers among men.…

The COVID-19 pandemic had a significant impact on personal care appliances in Mexico. As consumers worked and studied from home and socialised less, with restrictions on social gatherings like weddings, baptisms, birthday parties and quinceañeras – a…

Personal luxury retail value sales rose by 93% in current terms in 2023 to reach ARS114.7 billion, with the strongest growth recorded by the leading brand owners such as France Argentine Cosmetics SA and Puig Argentina SA. This very positive sales…

Personal luxury retail sales grew by 8% in current value terms to reach BRL17.8 billion in 2023, supported by growth being recorded by leading players like Puig Brasil Comercializadora de Perfumes S/A, LVMH Fashion Group Brasil Ltda and Procosa…

Personal luxury retail value sales increased by 12% in 2023 to total MXN102.7 billion, with growth recorded by leading brand providers, such as Louis Vuitton México S de RL CV and Grupo Axo SAPI de CV. 2023 value sales growth was boosted by consumers…

Lima is projected to remain Peru’s most populous city by 2027, serving as a prime location for internet-based businesses due to its superior connectivity. Meanwhile, cities like Chimbote grapple with inflation, and Tacna enjoys high disposable…

Natural increase will be the key driver of population expansion in Peru in 2021-2040. As the ageing trend accelerates consumer trends will be impacted and state resources will be put under further pressure. Urbanisation will continue at a rapid pace.…

In 2022, Peru witnessed population growth, driven by stable natural change and rising life expectancy. The country is facing the arrival of Venezuelan refugees, as well as political unrest. In 2022, Gen Z emerged as the largest generation, and is…

Anguilla enjoys political stability and low corruption levels, with relatively high trust in the government. Its economy was severely impacted by the Coronavirus (COVID-19) pandemic, given its substantial exposure to tourism. However, the country…

Antigua and Barbuda has autonomy over its political affairs. However, the country is prone to corruption and suffers from high public debt. The country swiftly recovered from the pandemic-related economic downturn, thanks to rebounding tourism.…

Economic freedom is lacking in Argentina and the political landscape is unstable, whilst corruption continues to infiltrate the highest echelons of power. Hyperinflation is causing economic pain; however, currency weakness could help exporters. A…

Aruba has a stable political environment with solid governance. However, perceptions of corruption are rising on the island. As one of the most dependent territories on tourism in the world, the Coronavirus (COVID-19) pandemic has ravaged the economy…

Limited taxation enables The Bahamas to enjoy relative economic freedom, but state finances are deteriorating. Significant exposure to tourism and adverse weather could scupper economic development in the short term, whilst unemployment is high. A…

Barbados enjoys political stability and is relatively free of corruption. Its break from the Commonwealth could destabilise this institution in the long term. Economic activity has been severely curtailed by the Coronavirus (COVID-19) pandemic, given…

Belize’s future remains uncertain, given claims over its territory, whilst corruption is rife. Substantial exposure to tourism could aid the economic rebound from the Coronavirus (COVID-19) pandemic, but foreign investment prospects remain bright.…

Bermuda has a stable political environment. However, state finances are stretched and could be further pressurised by a rapidly-ageing populace. The economy is expected to outperform peers in the short term, supported by solid activity in the…

Considerable state involvement hinders economic freedom in Bolivia, whilst government finances remain weak and a threat to stability. Although inflation has been controlled effectively, through subsidies and solid food production, the economy is…

President Lula’s rise to power may not reduce political instability and polarisation in Brazil, and could negatively affect economic freedom, which is already ‘mostly unfree’. Exports have shown resilience and inflation is falling, but economic…

The British Virgin Islands’ (BVI) tax haven status is damaging the territory’s reputation and could lead to political instability. Economic performance is likely to outpace peers in the short term, owing to tourism recovery and strength in financial…

The Cayman Islands benefit from political stability, but their position as a secretive financial offshore centre raises incidences of corruption. Tourism is the main economic activity, which has been negatively impacted by the pandemic yet aided…