Chile Killer Facts
- Chile is one of the best evaluated emerging economies internationally, recognised as a stable, transparent and reliable country with a globally-connected and competitive economy.
- Chile is the OECD´s first and only South American country. It has the highest GDP per capita in the region, and has been ranked as the World Economic Forum´s (WEF) most competitive nation in Latin America every year since 1998.
- Chile holds the most trade agreements of any country on the planet. Agreements with 64 countries have paved the way for privileged tariffs with 86.3% of global GDP and the expansion of its domestic market from less than 17 million inhabitants to over 4.3 billion potential consumers.
- Thanks to its attractive business climate, Chile has become an entrance door to the Pacific Alliance and acts as a hub for investment in South America. According to UNCTAD, the country is in the 7th largest emerging economy FDI recipient in the world.
- Chile boasts a vibrant entrepreneurial environment. The country was ranked 6th internationally in the Global Entrepreneurship Index, and Start-up Chile is one of the world´s most successful business accelerator programmes.
- Chile boasts high-level talent. The country lists amongst the top 40 on the 2017 Global Talent Competitiveness Index, and stands out as having two of Latin America´s ten best universities.
- Mercer’s 2017 Global Quality of Living Rankings rate Santiago as the best city to live in Latin America, and the country was well evaluated as 31st out 162 countries in the 2013 Global Peace Index.
Business Opportunities
Agribusiness
- Higher labour costs have created a demand for mechanised harvesting services and traceability technologies for fruit farming and food production.
- Innovative use of waste from the industry is sought after, for example in biomass energy production, secondary product processing or food for livestock.
- Increased health awareness, combined with higher disposable income, has created demand for healthy food products, marketed as being natural, healthy and free of artificial ingredients.
Construction
- Sustainable construction is expected to represent 15-20% of the construction sector in Chile by 2025.
- Expertise in building management, waste management and energy sustainability in new and existing builds is needed in the Chilean market, evident by the existence of government grants and schemes in these areas.
Energy
- According to a report by the UNEP and Bloomberg, Chile was one of the top 10 global renewable investors in 2015 with $3.4 billion in total new renewable energy investment.
- The Atacama Desert is one of the driest, sunniest and least populated places on Earth, offering economic opportunities to harness renewable energy resources.
Food and Drink
- Increased health awareness, combined with higher disposable income, has created demand for healthy food products, marketed as being natural, healthy and free of artificial ingredients.
- Processed foods exports have grown by 234% over 2004-2014, creating a pressing need for modern production plants.
Government
- Santiago wants to be a Smart City.
o Chile´s government wants to start pilot projects with companies offering Smart City Solutions within: Big Data, Pollution Management, Waste Management, Recycling, Emergency response and Safe City Solutions.
o Concepción, a city south of Santiago, wants smart transport.
Health
- The Ministry of Health is looking to increase the use of ICT by creating a nationwide database and infrastructure for patient data.
- The government’s InnovaChile programme works to establish International Centres of Excellence to increase participation in the biotechnology sector with the objective of modernising the pharmaceutical and medicine markets.
Maritime
- More than 700 million pesos has been made available for 10 new projects in the field of fisheries and aquaculture research.
- The fishing sector represents the third greatest activity in R&D spending after agriculture and industry. Fishing companies are constantly seeking to innovate and improve their techniques, transport and processing of fishery resources, including innovation in technology to prevent, among other things, possible accidents and environmental pollution.
Mining
- The 2014-2023 Mining Ministry portfolio includes 53 investment projects, 34 of these belong to the copper industry, representing US$104.8 bn.
Oil & Gas
- Chile currently uses between 2 and 6 times less gas as an energy source than other Latin American countries. The government wants to increase this usage and many companies are responding to this proposed increase, such as Metrogas (owned by Spain’s Natural Gas Fenosa) which has announced a USD$ 1.1 billion expansion programme over the next ten years.
Renewables
- The government’s long-term energy policy stipulates that 20% of marketed energy is to be produced by non-conventional renewable sources by 2025, requiring significant investment in production, management and efficient development. This will rise to 70% by 2050.
Retail
- There remains significant room for growth and more concentration of e-retailers. E-commerce has become a strategic priority for larger retailers.
- The model of specialty stores is growing, particularly in clothing, and department stores are reacting by reinforcing their own brand strategy.
Tourism
- Chile is trying to position itself a sustainable and accessible tourist destination with international standing. As such, knowledge and experience of promoting and developing tourism in these areas is required.
Water
- USD$12 billion is predicted to be invested by the private mining industry in desalinisation – As this is expensive, innovative and efficient technologies are needed to ensure competitiveness.