Economy

Ancient Peru was the cradle of the Incan empire, which flourished between 1400 and 1533 CE. The empire’s religious and administrative centre, Cuzco, is known today for being home to the world-renowned Machu Picchu. One of the new seven wonders of the world, the site attracts thousands of visitors each year. The arrival of Spanish conquistadors...

Once known as a country scarred by economic and social upheaval, Peru has now experienced nearly two decades of economic growth alongside the continued establishment of democratic principles – increasingly so since the turn of the millennium. Buoyed by high commodity prices, the mineral-rich country grew at an average annual rate of 6.2% in...

Following in the wake of the Alberto Kenya Fujimori presidency – which ran from 1990 to 2000 and was characterised by strong centralism – the Peruvian Congress was, for the first time, composed of representatives with previous political experience in regional institutions throughout the country.

By January 2017, after six months in office, the government of President Pedro Pablo Kuczynski had put into effect the main components of a tax reform package designed to support and accelerate economic growth. Among the key aims of the changes were to unblock and stimulate public and private investment, simplify tax payment processes and help...

The phenomenon known as El Niño – heavy coastal flooding resulting from the warming of the Pacific ocean, which generates evaporation and rains further favoured by the absence of winds – dramatically damaged the Peruvian west coast in early 2017, leaving the country in a state of permanent emergency. The events are making their mark on the...

ETIQUETTE & DRESS: Emiratis attach great importance to hospitality. Long greetings before a meeting, either business or social, are important. In Abu Dhabi it is common to give handshakes in business settings, but it is advisable not to shake a woman’s hand unless she initiates the gesture....