MercoPress. South Atlantic News Agency

Sao Paulo, Santiago best cities for business in Latinamerica

Santiago de Chile City

Business journal América Economía last week ranked Santiago as the second best city in Latin America for business, just behind Sao Paulo and ahead of Miami, Mexico City, and Buenos Aires.

The biggest advantages Santiago has for businesses are its favourable macro environment and the brand power available to businesses established in the area.

The ranking was compiled through the surveying of official data of each country, central banks, stock markets, The World Bank, business executives, consultant agencies, as well as other sources. The variables which helped rank cities included the quality of macro environments, the size of regional economies, services offered for corporations, human capital brand power, and environmental sustainability.

Indeed, brand power is one of Santiago, as well Chile’s, strengths. In a ranking compiled in September 2008 of the 50 most valuable brands in Latin America, Chile had twelve, an amount that trailed just behind Brazil and Mexico – countries with much larger economies. Among the most valuable

Chilean brands were the Chilean banks Banco de Chile and BCI, in 10th place and 15th place, respectively, and retailers Sodimac and Fallabella, in 22nd and 26th place, respectively.

Santiago, however, ranks very low in terms of environmental sustainability. As the world becomes more concerned with the environment, this is and will be an important factor in attracting business to cities.

While the capital was not in last place, it ranks among the lowest ten in Latin America.

Santiago also dropped a place in its position globally in terms of quality of life; although it remains in third place overall in Latin America – behind Buenos Aires and Montevideo.

Santiago ranks in first place in Latin America in terms of electricity infrastructure, water availability, phone and mail services, and public transport. In South America, it was rated has having the best urban infrastructure. Santiago Times