Peru

Fuelled by private investment and broader economic growth, the telecoms market grew 13% in 2012 and is projected to expand by a further 11% in 2013. As the mobile market becomes more saturated with the entry of a fourth mobile operator in 2013, non-voice services are being rolled out to maximise customer revenues, such as mobile money and banking. The dominance of two operators in the mobile...

Despite a global economic recession, international tourist arrivals in Peru rose by 10% in 2012 to reach 2.85m and the industry forecasts these numbers will continue rising at a steady rate, exceeding 3m visitors by the end of 2013. Overall heightened economic activity and investments are building a large corporate segment that is pushing industry standards, particularly in the hospitality...

Increased domestic consumption, exports and investment have led to consistent sector growth since 2004, averaging 4.2% per year in GDP terms from 2003-12. In 2012 the agriculture and livestock sector grew 5.1%, with agricultural activity comprising 60% of the sector’s total growth, though its contribution to GDP declined to 7.2% as the pace of growth in other sectors rose. In the first half of...

The second-largest contributor to GDP after construction, the retail sector reported 6.7% year-on-year growth in 2012, and continued to post 5% growth in the first half of 2013. The rapid development of the sector has meant a significant advantage for retailers that established a presence in the country in the early 2000s, and as a result a few conglomerates have dominant stakes across various...

Transport and logistics infrastructure in Peru has not kept pace with the high level of economic growth. According to a report released by the Association to Promote National Infrastructure in October 2012, $88bn in investment will be necessary over the period 2012-21 to close the existing infrastructure gap, a move essential for continued economic development. To this end, in 2011 the government...

Like many Latin American countries, Peru is prioritising industrial development, moving away from primary product dependency and working to establish a healthy balance between manufacturing and commodity exports. One of the most important economic activities in Peru, the manufacturing sector contributed 15.98% to GDP in 2012, displaying year-on-year growth of 1.32%, and continued to expand at a...