published 26-01-2005
ARTICLE ARCHIVE

IN THIS ISSUE...
INDUSTRY ANALYSIS: The Latin American Remittance Market
INDUSTRY ANALYSIS: The Globalization of Mexican Drinking Habits
ECONOMIC OUTLOOK: 2005 Latin American Forecast

IN OUR NEXT ISSUE...
INDUSTRY ANALYSIS: Tourism in Latin America
ECONOMIC OUTLOOK: Argentina

INDUSTRY ANALYSIS

The Latin American
Remittance Market:
Everyone Wants a
Piece of the Pie

by Melissa Cortes
InfoAmericas Consultant

The Latin American and Caribbean remittance market is estimated to have reached US$40 billion during 2004. According to the Inter-American Development Bank (IADB), remittances into the region now exceed FDI. In response to this growing sector, there has been a significant rise in partnering agreements between US and Latin American banks, both through corporate alliances and through existing Latin American subsidiaries. The expansion of these partnerships will allow the US-based banks to share risk, exploit the profitable remittance sector, and continue to take away market share from MTO’s, whose share has already dropped 15% as of the end of the third quarter 2004. Banks like Wells Fargo, which announced its remittance agreement with Banorte (Mexico’s fourth largest financial group) in late September, are attempting to strengthen their position in the remittance sector by reaching the large unbanked population of the region through expansion of banking outlets, ATMs, and the implementation of easier electronic transfer methods.

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For questions concerning market research and intelligence needs in the Financial Services area contact: Jan Smith-Ramos DIRECTOR, FINANCIAL SERVICES INDUSTRY PRACTICE fsrvcs@infoamericas.com

INDUSTRY ANALYSIS

The Globalization of
Mexican Drinking Habits

by Reinaldo Santana –
Senior Consultant,
Fast Moving Consumer Goods Practice

Mexico was once a nation of beer, rum, brandy and tequila drinkers. Other alcoholic beverages were rarely seen in the country, usually in the odd hotel bar or high-end club. Call it globalization, curiosity or just a unique form of rebellion, but today’s younger drinkers have abandoned tradition to embrace new spirits, new mixes and new ways of drinking. The traditional practice of ordering a bottle of rum or brandy in a bar has been replaced by individual drinks mixed to each patron’s liking, and the tendency to cater to personal tastes also extends to private parties. Everything mixes in a drink nowadays – nothing is taboo, except tradition.

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ECONOMIC OUTLOOK

2005 Latin America
Regional Forecast -
How long will the good luck last?

by Emmanuel Verrier-Choquette
InfoAmericas Economics Consultant
and John Price
President of InfoAmericas

At 5.5%, Latin America’s GDP expansion in 2004 was the best recorded in 25 years, raising the profile of a region all but forgotten since it started falling apart in 2001. Renewed growth has been fuelled by a massive injection of foreign currency resulting from skyrocketing prices for commodities that Latin America supplies competitively. This performance demonstrates that the globally-exposed region can do well when the world economy is a benevolent one. Record commodity demand and low interest rates contributed to the startling turn-around. The big question for 2005 is whether the region can not only hang onto its new-found prosperity but also build on such unexpected good luck with continued reforms and solid economic stewardship. It would be a welcome change if the region managed to avoid squandering this once-in-a-decade opportunity.

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