Planning a South America tour now might be a good idea as the continent’s economy is starting to regain its momentum. The fact is that, the collapse might have been a good thing as it is stepping up to be something more than what it used to before. The countries are now seeing growth and there is an indication that it might be onto bigger things than before.
Let us look at the case of Brazil where inflation is slowly falling and the interest rates are dropping considerably. This in return resulted to a consumption expansion. The same situation is currently happening in Colombia and the locals are reaping the benefits.
From the view point of Argentine, the activities are being boosted by the priming of the candidates that are hoping to make it through the midterm elections which is considered to be a crucial event. The issue that used to plague Chile concerning a mining strike has already been resolved while the flooding in Peru has also been addressed.
Based on the figures released by the Capital Economics, the GDP tracker showed that Latin America continues to grow at 3 per cent which is a consistent high for the past three years.
The region has been waiting for this and everyone is already seeing the impact. Looking back in 2015, the economy of Latin America was recorded at $6 trillion but there was no growth seen and in 2017, it has reduced even further by 1 per cent. The deceleration did not happen overnight but it has been happening for many years. The highest growth in the region was recorded in 2013 which showed an increase of 6 per cent. After which, everything started to move in a downward trend.
If the growth continues, this will have a crucial impact to the political system of the countries, more importantly in Argentina. Aside from a few exceptions including Mexico and Venezuela, things are looking up for the region. Travelers can hop on the next South America Tour and enjoy the affordable countries before the growth balloons and everything becomes too expensive.