Chile’s growing economy ranks as the fifth largest in South America and remains the most stable, despite the fluctuations in world markets in recent years. With the need for diversification as it emerges into developed status, Chile offers plenty of opportunities for enterprising business people.
Chile’s economy has been an example to many developing nations as it has survived the economic storms of the recent recession and natural disasters, whilst maintaining respectable growth figures and continuing to attract inward investment.
This is due in no small part to the country’s reputation as the safest environment to do business in the continent, boasting some of the lowest crime and corruption rates as measured by international observers. As well as these impressive claims, Chile has the benefit of political stability and a comparatively free market to thank for making it such an attractive proposition to employers and investors.
Whilst it’s economic growth has been noted, the country has been under pressure in recent years to move industrial focus from mineral extraction and a dependency on copper exports, to a more balanced portfolio of successful businesses. This drive to diversify has attracted investment by large multinationals, especially in Santiago, including tech giants like Microsoft, Intel and IBM, as well as Coca-Cola and Nestlé. Alternatively, the tourism and hospitality industry show steady signs of growth, and could provide great opportunities to entrepreneurial expats.
Demand for service sector jobs appropriate to expats such as teaching English remains high, and language institutes typically have less regulation regarding qualification than other countries. However, those wishing to teach in the formal school system will require a teaching certificate or equivalent degree.