Prospects for investment in Lima’s prime office rental market are expected to continue to be positive for the next few years, with sector statistics and professional opinions both highlighting the segment’s potential. While rental rates remain lower than in most Latin American capitals, companies are scrambling to get a share of prime office space...
After more than two decades of planning, preparations and delays, the first line of Lima’s new metro system opened on January 3, 2012. The metro will have a major impact in terms of alleviating the capital’s congested transport network. Lima has been fighting a losing battle against gridlock, pollution and traffic accidents for decades, but it...
As more Peruvians continue to work their way into the country’s burgeoning middle class, an increase in disposable income has led to strong growth in the retail sector. According to UN data, GDP per capita increased by 19% between 2009 and 2010, and is expected to rise in the coming years as the economy continues to expand.
After the second term of former President Alan García saw an estimated 250 social conflicts nationwide, incumbent President Ollanta Humala campaigned on promises of social inclusion programmes funded by an increase in royalties from mining activities, as well as stricter oversight of the sector. Thus far his government has taken significant strides...
Despite the global financial crisis in 2008, Peru’s insurance sector has been steadily expanding over the past five years, averaging 15% annual growth in premiums. While life insurance sales fell by 4.3% globally in 2009, as of December that year life insurance premiums in Peru were up 9.73% year-on-year (y-o-y), placing the country fourth on Swiss...
Water problems made the headlines in Peru in early 2012 when local protests halted progress on a major mining project in the northern city of Cajamarca. More than 2000 locals gathered to voice their concern that the new mine, owned primarily by the US-based Newmont Mining, would pollute the water supply and negatively affect a local aquifer. While...
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