Latin America
Mexico and Brazil stand out to a global Best Countries audience as being well known for a handful of different attributes, while the other countries in the region are perceived globally as having fairly similar strengths and weaknesses.
Brazil is the highest-ranked country by the global audience and respondents from the LatAm region this year; last year, Mexico topped the local league table, but has slipped down the ranking in 2026 to fall behind its larger neighbour.
Globally, Brazil is perceived as being a country offering adventure, culture and a rich heritage. Its greatest strength in the eyes of the world, however, is its sporting prowess (it ranks #1 in the world out of 85 countries), thanks to generations of brilliant footballers, excellence in jiu jitsu and surfing, and a long line of world-beating Formula 1 drivers. It’s seen as the most powerful country in the region, but is only mid-table on measures relating to business and investment, such as economic stability, innovation, a lack of corruption, and ease of access to capital.
Mexico is viewed as a fun, adventurous destination with an influential culture and great food (#2 in the world, after Italy), but is let down by poor opinions of business and government transparency, the state of its infrastructure, and safety.
Here is a counterintuitive finding in the latest Best Countries data: on nearly every measure, Latin Americans rate their region more favourably than the rest of the world does. They see home as friendlier, more fun, more liveable. No surprise there — insiders know what outsiders miss.
But there is one striking exception. On Movers — the attribute that captures forward momentum — the pattern reverses. The world is more bullish on Latin America’s future than Latin Americans themselves. Countries with strong global business profiles — Costa Rica, Chile, Uruguay, Panama — all rank higher on Movers in global perception than in regional self-assessment.
The simplest explanation: familiarity breeds caution. The region measures its future against broken promises; the world measures it against trajectory. And that trajectory has two faces.
The bright face is cultural. Brazil leads global perceptions around entertainment, with Mexico close behind. From Puerto Rican rapper Bad Bunny to regional Mexican music to Brazilian funk — not niche, but the visible edge of a soft power the region exports more effectively than its institutions operate.
The dim face is institutional. Even from within, governance and quality-of-life metrics lag well behind the region’s vibrant self-image — infrastructure, transparency, and institutional predictability remain weak spots across the board.
The central tension: Latin America has one of the most compelling brand personalities in the emerging world, without the perceived operational backbone to capitalise on it. But the most urgent deficit isn’t image — it’s self-belief. Global audiences seem more willing to bet on that conversion than the region itself.
Ernest Riba
Chief Strategy Officer, VML Latam
Safety and governance are a recurring theme for this region; the global view is that these are lacking across the board (Uruguay ranks highest for safety, at #45, and Costa Rica for government transparency, at #37). The view from within the region on these measures is similarly poor, although Costa Rica, Chile, Ecuador and Uruguay are seen as safer by observers within the region than those outside.
Many of the other LatAm countries score fairly consistently when ranked by a global audience. They all are seen as having significant opportunity to improve on measures related to the environment and providing a good Quality of Life, as well as entrepreneurship and the kind of conditions needed to support businesses.
Within the region, more distinctions are drawn between the strengths and weaknesses of each country, and overall the view across the board is more positive (LatAm countries are an average of 17 places higher when ranked by respondents in the region than they are on the global study).
Uruguay, for instance, is widely seen within the region as being the most Open for Business and adaptable, with a strong commitment to social purpose and a well-educated, entrepreneurial population. Colombia is perceived to be a fun, happy and sexy place with dynamic cities and an appealing climate, though it’s one of the bottom performers for safety. Chile shines for adaptability and affordability, Panama for having a favourable tax environment, and Ecuador for its wildlife, though it ranks bottom out of 85 countries for having well-developed infrastructure, when ranked by respondents in the region.
