One of Latin America’s best-kept secrets, Chile is the region’s most stable and prosperous nation, and was the first Latin American country to join the OECD.
With over thirty years of market and foreigner friendly policies, Chile is seen to be the most competitive market in the geographical region. With efficient governance, strong institutions, and low level of corruption, Chile annually climbs up the rankings on various international competitive and business indices. According to the World Bank, Chile is the easiest country in Latin America to do business, which is not surprising considering that annual growth has been sustained at 4.6% steadily over the past 20 years. Consequently, many international brands continue to be attracted to Chile and the PR and marketing opportunities it offers.
Consumer demand has exploded in Chile over the last decade as living conditions, wages, and access to credit, have improved. While consumer confidence was dipping in neighbouring countries, the opposite could be witnessed in Chile, where consumption of consumer goods is seen as a reflection of one’s social status, rather than simply a satisfaction of need. Nowadays, digital goods and services, branded products and novel versions of housing equipment have become the norm for most Chileans.
An educated population, with much higher literacy rates than in many neighbouring countries (94%), increasing numbers of Chileans seek an overseas education, so PR agencies in Chile and international companies can expect to communicate with a highly educated professional landscape. 90% of the 18.2 million population live in urban settings. The average age is 33.7 years, but this is expected to rise to 45.1 years by 2050, as the population ages. The population is split almost evenly between men and women. As with other territories in the region, the best Chilean PR agencies recognise that while men are considered to be the head of the family, women are often primary decision makers.
Traditionally, Chile receives fewer tourists than some of its Latin American neighbours, with sector worth over USD$8.3 million, or just around 3.4% of GDP. But, the long skinny country (the longest and skinniest in the world, running from the Andes to the Pacific!) offers an incredible array of activities for visitors, so it is somewhat surprising tourism does not command a bigger share of GDP. There are few countries in the world where one can hop from an urban setting to the desert, then go from sipping wine while overlooking rolling vineyards to a beach resort before finishing a trip with a spot of snowboarding.
This unique nation that incorporates the driest desert in the world, millennial glaciers, and abundant rainforests, has the additional accolade of being the most ecologically aware society in the region. A palpable pride in the land is evident amongst Chileans, who will proudly show off the wonders around, while warmly sharing snippets from the country’s history.