Latin America
Global brands entering Latin America find it useful to regard it as a fairly homogenous region, a land united by a language (with the exception of Portuguese-speaking Brazil). We have included Mexico in our Latin America grouping for this reason.
While it’s true that the region is home to around half a billion people here who would all understand the same Spanish-language advertising copy, they are far from being part of a single entity.
Yet a glance at global perceptions of Latin America suggests that, from afar, many countries in the region do look very similar.
To a global audience, these countries rank fairly consistently (at the bottom end of the table) on Best Countries metrics for being entrepreneurial, being innovative, being safe, family-friendly, and for having an educated workforce.
There is a broad perception in the rest of the world that these markets all tend to lack economic stability and influence, that they’re not particularly well connected to the rest of the world, and that corruption is a real risk.
The Best Countries list is out, and while individual Latin American nations shine, the region as a whole seems to lack the global punch of a superpower. But what if we were to think differently, and look at what these countries offer collectively, as a United Latin America (ULA)?
Extending from Mexico to the south of Chile and Argentina, with the Amazon rainforest at its heart, the region shares cultural heritage, aspirations and strength that support the concept of a united Latin America. The two main languages spoken in the region – Portuguese and Spanish – converted to a ‘Portillo’, make collaboration readily achievable.
The Best Countries rankings hint at the potential of a ULA. The region would be stronger if the countries combined their business and technological acumen; culturally, the impact would be immense. Economically, a ULA could leverage negotiate stronger trade deals and better attract foreign investment, potentially becoming a top-tier global economic force.
Challenges would exist, but the shared DNA of Latin America creates a unique opportunity for unity. So, study the Best Countries rankings, but ask, too: what if Latin America, with all its potential, finally became whole? The world might just be surprised by the superpower that emerges. The ULA awaits.
Luis Fernando Dugand
Deputy Chief Strategy Officer LATAM, VML
Closer to home, however, there is a more nuanced view of each place, and a different idea of which country in the region is ‘best’.
Overall, Latin American respondents in Best Countries rate the 14 markets in the region much more highly than the global audience, and also rate each one slightly differently.
Mexico emerges as the Best Country in the region to those living in the region themselves, while Brazil takes first prize among a global audience. This is due to more positive perceptions close to home regarding Mexico’s agility, connectedness to the rest of the world, racial equality and performance on human rights. Global audiences perceive Brazil as offering adventure, heritage and affordability, and as being scenic, friendly and fun.
Uruguay, to highlight just one example, performs significantly better in the region than more widely; it is seen as responsive and transparent with a good public health system by people in neighbouring countries, while globally, it lacks differentiation.
Among the countries of Latin America, the Best Countries data shows there’s an opportunity to stand out to a global audience on issues such as being committed to climate goals, having technological expertise, or being open for business – things that can be changed through policy and communication.
