Thanks to its unique historic and cultural offering, including one of the world’s most exciting cuisines, Peru is the fastest-growing tourism destination in the region. International tourism inflows rose by 7.7% in 2016, according to the “Economic Impact 2017 Peru” report by the World Tourism and Travel Council (WTTC), posting faster growth than anywhere else in the Americas, and above the...
Despite the effects of El Niño in 2017, agriculture’s prospects remain positive. According to the Ministry of Agriculture and Irrigation, projections, the sector is expected to post average growth of 3-3.5% in 2017, with exports projected to increase by 20-25% to reach $6bn. In the longer term, ongoing public programmes to assist small-scale farming should help to ensure that more smaller...
The transport sector will remain a vital aspect of Peru’s economic success, and reducing the current infrastructure deficit is key to sustaining recent positive growth trends. In light of the 2017 flooding crisis, the Ministry of Transport and Communications is now urgently prioritising investment in transport infrastructure so as to restore the minimum conditions for the private sector to...
While there are disagreements regarding the short-term economic forecast for industry, the consensus for 2018 is considerably more upbeat. By that time, reconstruction and other infrastructure projects should be well under way, delivering the positive shock that the domestic economy, and the sector, urgently requires. In addition, the retail sector in Peru has been the second-fastest-growing...
After contracting the previous year, the construction sector is looking to grow again in 2017. Still feeling the impact of the recent downturn, the sector is only expected to register growth in the fourth quarter, following the negative effects of the coastal El Niño floods in early 2017. While causing significant damage, the floods made it necessary for the newly elected government of...
The advent of plentiful natural gas has led to an evolution of the energy sector. Among President Pedro Pablo Kuczynski’s key pledges in the 2016 election campaign was the “massification of natural gas” to serve residents and industrial users across southern Peru. Another feature of Peru’s policy focus is to diversify gas exports, including the potential renegotiation of the country’s...
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