These Five Cities are Latin America’s Newest Business Hubs |

These Five Cities are Latin America’s Newest Business Hubs

By Linda M

Updated April 8, 2021 Updated April 8, 2021

Home to a wealth of history, a myriad of cultures, and number of incredible views and heritage sites, Latin America has long been known as a great travel destination.

Nevertheless, you might not know that the region is also en route to becoming one of the West’s top employment hubs.

Thanks to low competition, untapped markets and favorable start-up costs, entrepreneurs and business owners have quickly realized that the area is an ideal spot to set up a business of any size, no matter where you hail from across the globe.

If you’re considering relocating somewhere in the region to kick-start or revamp your career, here are the five cities that should be at the top of your list.

5. Monterrey – Mexico


As the capital city of Nuevo León and the US’s biggest trade partner in the area, Monterrey is a true hub for business and employment, producing a GDP of US$78.5bn (£60.82bn).

Monterrey is home to many profitable Latin American industries, such as brewing, steel productive and the automotive sector. The city’s tech sector grew three times faster than the global average in the second half of the 2010s, making the city an ideal location for new entrepreneurs to try and make their mark in the world.

4. Santiago – Chile


Santiago is the capital and largest city of Chile, as well as one of the most populated in the country.

Santiago boasts some of the country’s lowest tax rates and highest trade deals, enabling it to cement itself as the industrial and financial center of Chile.

The city is now home to a growing start-up scene, known as the Chiliceon Valley, and government-led funding programs that help entrepreneurs kick-start their careers.

3. Medellín – Colombia


Medellín is the second-largest city in Colombia, home to more than 3.7m people, and the economic center of the Antioquia region.

The city serves as the Latin American headquarter for many national and international companies, and its low living costs and high quality standard of living makes it a great place for people working in the economic and finance sectors.

2. Guayaquil – Ecuador


Guayaquil is the second most populated city in Ecuador and is also home to the country’s main port.

The local government has invested significantly in the city’s urban regeneration, which has allowed for the creation of commercial districts and business and commerce hubs.

Guayaquil is ideal for those working in formal and informal trade, as well as for small to medium size businessowners.

1. Lima – Peru


Lima is the capital and the largest city of Peru. The Metropolitan area is the city’s biggest economic hub, home to many different industries, such as textiles, clothing and food, and a profitable stock market.

Lima also serves as the HQ for local and regional banks, such as the Banco de Comercio, Interbank and Bank of the Nation, making it the ideal location for those working in the finance industry.  

To find out more…

QS offers a range of events all over the world to help aspiring entrepreneurs and businessowners achieve their professional goals.

For more information on tour dates in Latin America, click here and here.

This article was originally published in February 2020 . It was last updated in April 2021

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Written by

Linda is Content Writer at TopMBA, creating content about students, courses, universities and businesses. She recently graduated in Journalism & Creative Writing with Politics and International Relations, and now enjoys writing for a student audience. 


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