Latin America’s “Multilatinas” Expand Global Presence, Compete With New And Established Rivals

There are a number of larger Latin American companies, known as “Multilatinas,” that are competing globally with corporations from the developed markets as well as those from other rapidly developing economies, such as China and India. A 2009 report from the Boston Consulting Group lists 100 “new global challengers” from Latin America, including Mexico's Grupo Bimbo and Embraer from Brazil. This push is supported by improved socio-economic conditions in the region, including economic reform and stability, better education, and technological advance, reinforced by vast a natural resource base. The region’s GDP equals that of China, and is expected to have grown some 4 percent this year. Some Latin American companies are investing abroad, including acquisition deals, and activities overseas have been helped by a series of bilateral free trade agreements with Asian countries and a general trend towards a Free Trade Area for the Asia Pacific that could include some Latin American countries.