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1、 Strategic Intelligence GD2024FDI-11 December 2024 FDI Trends in LatAm(2024)FDI Trends in LatAm|December 2024 WWW.GLOBALDATA.COM GlobalData Plc 2024|2 Contents Executive Summary.3 Global FDI Trends.4 Regional FDI Trends.6 Principle FDI Themes.9 Top FDI Sectors:Energy.11 Top Source Markets/Investors.

2、12 Inward FDI Performance Index.14 Concluding Investment Climate Analysis.15 Further Reading.16 Our Thematic Research Methodology.17 About GlobalData.19 Contact Us.20 FDI Trends in LatAm|December 2024 WWW.GLOBALDATA.COM GlobalData Plc 2024|3 Executive Summary Global Seismic macroeconomic and geopoli

3、tical shocks have instigated dramatic revisions in foreign direct investment(FDI)globally.According to GlobalDatas FDI database,while the total global number of FDI projects is yet to rebound from COVID-19,global capital expenditure invested in greenfield FDI has risen by approximately 44%between 20

4、19($933.6 billion)and 2023($1,346.9 billion).Now,amid fracturing international politico-economic relations,multinational corporations(MNCs)are diverting multi-billion dollar investments with a more regional focus.LATAM Inward FDI to Latin America has increased from$91 billion(2019)to$155 billion(202

5、3),representative of 12%of total global greenfield FDI in 2023;a trend nurtured by FDI to Asia contracting by 21%between 2022 and 2023.Markedly,investments are predominantly sourced from the US($40.43 billion),Spain($16.8 billion),and China($14.7 billion),playing off US-China trade warfare and colon

6、ial-embedded,cultural and linguistic compatibilities.Furthermore,FDI growth is driven by ubiquitous demand for renewable and petrochemical energy.Principle Trends Sustainability Reshoring/Nearshoring/Powershoring Semiconductors Top Sectors Renewable&Alternative Power Coal,Oil&Gas Communications&Medi

7、a Key Investors The US Spain China FDI Hotspots Brazil Mexico Chile Inside Executive Summary Global FDI Trends Regional FDI Trends Principle FDI Themes Top FDI Sectors:Energy Top Source Markets/Investors Inward FDI Performance Index Concluding Investment Climate Analysis Further Reading Our Thematic

8、 Research Methodology About GlobalData Contact Us _ Related reports Latin America and Caribbean Energy Transition-Sectors and Companies Driving Development Reshoring and Nearshoring:How MNCs Are Adapting to the International Economic Climate Brazil to benefit from China stimulus Strategic Intelligen

9、ce:US Elections 2024 Executive Briefing _ FDI Trends in LatAm|December 2024 WWW.GLOBALDATA.COM GlobalData Plc 2024|4 Global FDI Trends COVID-19,US-China trade warfare,high(but depreciating)global inflation,and exacerbating geopolitical conflict across Ukraine,Russia,Lebanon,Yemen,Iran,and Gaza have

10、instigated dramatic revisions in foreign direct investment(FDI)globally.Each explanatory factor noted has cultivated an international politico-economic environment rife with trade embargos,maritime trade distributions,proliferating martial exposure,and widespread uncertaintyThe European Union(EU)cur

11、rently imposes 4945 live trade sanctions across 79 nations and the United Nations(UN)monitors 14 sanctioned regimes.Furthermore,the previously adopted consensus that international economic cooperation ensures political stability is eroding,heightening investment caution for governments looking to di

12、versify sovereign wealth funds and multinational corporations(MNCs).However,as GlobalDatas FDI database showcases in Figure 1,while the sum number of global FDI projects is yet to rebound from COVID-19marked by 16,926 projects in Q1 2019 compared to 11,361 in Q2 2024global capital expenditure invest

13、ed in greenfield FDI has risen by approximately 44%between 2019($933.6 billion)and 2023($1346.9 billion);therefore,indicating that MNCs are increasingly becoming more selective and heavy-handed.i.e.,the average value of foreign direct investment projects is increasing.Moreover,Figure 2 highlights ho

14、w the regional composition of global FDI is marginally changing in favor of Latin American economies.Figure 1:Global FDI trends(2019-2024)Source:GlobalData FDI Database Figure 1 depicts the total global number of FDI projects(No.of Projects),capital expenditure(CAPEX)invested,and the subsequent numb

15、er of jobs created(No.of Jobs),from Q1 2019 and Q2 2024,according to GlobalDatas FDI Project Pipeline.Markedly,total capital expenditure and total number of greenfield FDI projects are plotted on the left axis,whereas the total number of jobs is plotted on the right.CAPEX,measured in billion US doll

16、ars and adjusted in real prices as of 2021,is recorded annually,thereby the darker blue trendline illustrates the annual moving average of CAPEX data plotted in the closing quarter of each year in 2019,2020,2021,2022,and 2023.Moreover,GlobalDatas FDI databaseand contingent depicted data in Figure 1i

17、s exclusive to greenfield FDI,representative of investments made by a foreign expanding/starting company that translates directly into a physical presence in the recipient country.In Q1 2019,GlobalDatas FDI Database recorded 4,071 FDI projects globally,defined and recorded in the quarter the project

18、 was announced.Since then,FDI has fluctuated dramatically parallel to unforeseeable macroeconomic and geopolitical events,peaking in Q3 2022 at 5,482 and troughing in Q2 2022 at 2,455 amid COVID-19.Pertinently,FDI is a flow not a stock,meaning Figure 1 is not representative of the exact number of li

19、ve FDI projects in each nation per quarter,but is intuitively insightful as a signal for how businesses are investing(or not)internationally.FDI Trends in LatAm|December 2024 WWW.GLOBALDATA.COM GlobalData Plc 2024|5 Conversely,total capital expenditure in greenfield FDI has rebounded to pre-pandemic

20、 levels,preceding contracting by approximately 19%between 2019($933.61 billion)and 2020($759.42 billion).However,the comparative composition of global FDI notably differs.Figure 2:Composition of global FDI by region(2019&2023)Source:GlobalData FDI Database Figure 2 represents the total capital expen

21、diture invested into each region as a percentile of global FDI that year in 2019 and 2023.For instance,Asia was the most popular destination for FDI in 2019,accounting for 29%of total global FDI that year,compared to 26%in 2023.Hence,relative FDI to Asia between 2019 and 2023 has faded,but symbiotic

22、ally,relative FDI to South and Central America is marginally increasing.Accumulatively,Latin America accounted for 10%of FDI in 2019,compared to 12%in 2023;a 2%percent increase might appear slight but holds multibillion-dollar implications for developing economies.FDI Trends in LatAm|December 2024 W

23、WW.GLOBALDATA.COM GlobalData Plc 2024|6 Regional FDI Trends Figure 3:Capital expenditure by region(base year 2019=100)Source:GlobalData FDI Database Figure 3 shows capital expenditure on FDI projects by region,as recorded by the GlobalData FDI database.Capital expenditure levels in 2019 have been se

24、t to 100 in Figure 3 to show the relative growth over the subsequent years.Capital Expenditure in all regions,excluding Western Europe,declined in 2020,induced by containment measures enacted during the COVID-19 pandemic,which limited the worldwide progression of globalization by restricting the mov

25、ement of capital and labor across borders,severely disrupting global supply chains.In March 2020,the IMF announced that approximately$83 billion in capital inflows was removed from developing countries since the Pandemic began.For developing regions,FDI plays a key role as a source of finance,which

26、enables countries to build economic resilience,supporting employment growth and increasing economic development.In the years following the pandemic,GlobalDatas FDI database shows that capital expenditure in seven out of the eight regions has now recovered beyond their pre-pandemic levels,with market

27、s such as Oceania,Latin America,Western Europe,and Africa showing substantial growth compared with 2019 levels.FDI Trends in LatAm|December 2024 WWW.GLOBALDATA.COM GlobalData Plc 2024|7 Figure 4:Top 10 inward locations for FDI 2023 Source:GlobalData FDI Database Figure 4 outlines the top 10 nations

28、in Latin America for inward FDI,measured in capital expenditure,as of 2023.Mexico and Brazil dominated investment,recording$71.6 billion and$28.4 billion in 2023,respectively.Furthermore,Chile boasted$12.8 billion as part of its bilateral economic development strategy.Latin Americas unique geographi

29、cal landscapespanning vast deserts,jungles,and mountainsand stunted development post-WW1,lends to regional commonalities:political adolescence,arable land,and an abundance of natural resources.For instance,the last four centuries have seen excessive global demand for Brazilian and Columbian coffee,M

30、exican and Peruvian silver,Chilean nitrates,Cuban sugar,Central American bananas,Argentine wheat and beef,and Bolivian tin.In turn,this attracts mammoth investments from MNCs for resource extraction and exportation projects.At present,Latin American exports remain strong,but sentiment toward foreign

31、 investment differs from state to state.Brazils trade network is extensive,hosting a diverse FDI climate.In the global south,the BRICs allegianceincumbent of Brazil,Russia,India,China,South Africa,and now potentially Trkiyesets a strong politico-economic framework for investment.In 2023 alone,Chines

32、e investments in Brazil totaled$1.73 billion;an increase of 33%from 2022.Furthermore,President Lula is in current negotiations with President XI to join Chinas Belt and Road initiative.Elsewhere,Brazil-US relations remain healthy,despite controversy over Elon Musk challenging the Supreme Courts bann

33、ing of X.Nevertheless,the case serves as a pertinent point to foreign investors,exhibiting the power of Brazils executive court.Furthermore,there exists strong anti-privatization sentiment among the public,conscious of forfeiting control over national assets.Alternatively,Mexico recorded bourgeoning

34、 FDI in 2023,but primarily due to low base effectto reiterate,2023 data includes projects announced and yet-to commence.In terms of yielded greenfield FDI returns,Mexican FDI stagnated in 2023,but strong geostrategic positioning to the US,amid a US-China decoupling,has fostered an influx of announce

35、d investment.However,investments are caveated by considerable headwinds:First,the United States-Mexico-Canada Agreement(USMCA)entered into force on July 1,2020has been critical to freer FDI across petrochemicals,electronics,and FDI Trends in LatAm|December 2024 WWW.GLOBALDATA.COM GlobalData Plc 2024

36、|8 automotive sectors.The sunset clause stipulates that the agreement is up for review in 2026,and Trump has previously signaled that he would revise the North America Free Trade Agreement(NAFTA)that oversees USMCA;this would likely amplify the costs(and feasibility)of Mexico-based,US projects.Secon

37、d,strong US demand for border tightening spells uncertainty for occupational mobility.Nevertheless,the silver lining for Mexican inward FDI is that Claudia Sheinbauma left-leaning technocrat,and new President of Mexicois expected to adopt a more open,energy-driven,trade policy.FDI Trends in LatAm|De

38、cember 2024 WWW.GLOBALDATA.COM GlobalData Plc 2024|9 Principle FDI Themes Sustainability Similarly to how the Industrial Revolution catalyzed the development of oil-rich nations,economies accommodative to renewable energies are ripe for foreign direct investment(FDI);Latin America is no exception.In

39、 August 2022,15 LATAM countriesnamely,Bolivia,Chile,Colombia,Costa Rica,Dominican Republic,Ecuador,Guatemala,El Salvador,Haiti,Honduras,Nicaragua,Panama,Paraguay,Peru,and Uruguaysigned the Renewables in Latin America and the Caribbean(RELAC)Initiative,which set out their individual contributions to

40、the regional target of achieving 70%renewable energy by 2030.Since then,LATAM policymakers have been taking proactive measures to accommodate sustainability investments.Figure 5:LATAM power capacity share,2018-2035 Source:GlobalData FDI Database Figure 5 represents an annual composition of the colle

41、ctive power capacity share of LATAM nations from 2018,forecast to 2035.The overarching theme is that petrochemicals(Coal,Oil,Gas)are giving way to more sustainable energy sources.For instance,proactive to FDI interest/potential,solar capacity in LATAM is expected to bourgeon from 79,825.10(17%)in 20

42、24 to 330,889.68(29%)in 2035;the share of total energy capacity is depicted in brackets.Furthermore,the region is endowed with an abundance of renewable-energy-dependent-commodities.For instance,Brazil hosts approximately 2.63 billion tons of bauxite reservesthe sedimentary material sourced to make

43、aluminumequivalent to 9%of global bauxite reserves.Chile hosts the worlds largest global copper reserve at 190 million MT,whereby at the current extraction rate,reserves guarantee copper production for the next 100 yearsPeru follows closely,holding 120 million MT,representative of 12%of global reser

44、ves.Additionally,Brazil accounts for 16%of the worlds iron ore;a material indispensable to steel production.Moreover,in terms of supporting electronics and battery anodes,Brazil hosts 26%of world graphite reserves,Chile,and Argentina account for 33%and 13%of world lithium reserves(respectively),and

45、Mexico,Peru,Chile,Bolivia,and Argentina are all world dominant silver producers;Mexico,being the world leader,representative of approximately 25%of world supply.LATAM holds a uniquely strong,material advantage to accelerate the global renewable energy transition,inviting investment.FDI Trends in Lat

46、Am|December 2024 WWW.GLOBALDATA.COM GlobalData Plc 2024|10 Reshoring/nearshoring/powershoring As highlighted in Figure 2,parallel to tightened Southeast Asia trade and inversely to evident global divisions,the US is confiding in Latin American resources and manufacturing.After all,Latin America pres

47、ents a reputably hard-working labor force with a competitive labor cost,a geographically advantageous positioninsular to maritime trade disputesand cultural compatibility.According to GlobalDatas FDI Database,inward FDI to Latin America increased in 2021($132.9 billion)and 2022($154.4 billion),albei

48、t decreased in 2023($144.6 billion);a 6%decrease from 2022 to 2023 purports that South American FDI is stalling.Though considering Global FDI decreased by approximately 10%over the same period,comparative investment remains promising.To elaborate,MNCsparticularly in the USare looking to South Americ

49、a as an FDI alternative.While arguments to-whether a definitive deglobalization trend is underway,minimizing supply chainsthrough reshoring,nearshoring,or a combination of bothmitigates financial risk in an increasingly hostile international economic climate,rife with trade embargos,and decreases po

50、tential exposure to geopolitical conflict.However,it should be noted that reshoring prospects are caveated by politico-economic headwinds.For example,in Argentina,inflation remains above 200%,and in Venezuela,controversy surrounding the July 2024 elections continues to spark riots and instability.El

51、sewhere,in Mexico,cartel influence remains ubiquitous,and in Brazil,a weak currency and rising inflation caused the central bank to hike rates on September 18 and hinted at future rate hikes to come.Furthermore,the election in the US has had an equivocal effect on North and South American relations,

52、adding to investment uncertainty.Semiconductors Latin America currently sits on the periphery of a semiconductor industry dominated by the US,China,and the APAC region.Given its relatively young and skilled population and geo-proximity to the US,Latin America poses as a prime candidate for US allies

53、 to expand their territory while simultaneously combatting Chinese influence.In 2023,the US State Department announced it would be partnering with Costa Rica and Panama to support their semiconductor industriesMexico has since been added to the list of partner countries under the CHIPS ITSI Western

54、Hemisphere Semiconductor Initiative.For instance,Foxconnthe Taiwanese-ownedchose Mexico as the location for the worlds largest manufacturing facility for Nvidias GB200 AI chips,having already invested half a billion dollars.Moreover,in Costa Rica,Intel has had a presence for many years,and in 2023 p

55、ledged further financing of$1.2 billion.Furthermore,Brazil has been focusing on its semiconductor industry outside the US sphere of influence,having established the Brazilian Association of the Semiconductor Industry(ABISEMI).In 2024,President da Silva signed the Brazilian Semiconductor Plan,expecte

56、d to result in more than BRL21 billion($3.8 billion)in investment over the next three years.This move is part of a wider industrial digitalization plan worth BRL186.6 billion($33.5 billion).Thus far,Brazilin unison with Mexicohas resisted US pressure and remained open to Chinese investment and partn

57、erships in its semiconductor industry.For Mexico,Brazil,and the long list of LATAM nations susceptible to semiconductor development,success hinges on strategically navigating hostile Sino-US tensions.FDI Trends in LatAm|December 2024 WWW.GLOBALDATA.COM GlobalData Plc 2024|11 Top FDI Sectors:Energy F

58、igure 6:Top sectors for FDI in LATAM by capital investment($B)Source:GlobalData FDI Database Complementary to Latin Americas climate and rich endowment of natural resourcesas outlined in Principle FDI Themesthe renewable and alternative power sector dominates FDI attention,accounting for$31.37 billi

59、on in greenfield capital investments.For instance,according to GlobalDatas current FDI Project Pipeline:In October 2021,Fortescuean Australia-based green energy and Iron-ore firmcommitted to investing$6 billion to build a new green hydrogen plant in Rio Negro,Argentina.Additionally,planning to insta

60、ll 400 wind turbines.Since then,rattled exchange rates have postponed development,but plans continue.In April 2023,Solatio Energia subsidiary of Solatio,headquartered in Spainplans to invest$1.7 billion to develop a 2.5GW solar plant in Mato Grosso do Sul,Brazil.The plant is projected to be operatio

61、nal in 2025.As of January 2024,Verano Energya subsidiary of Parex Resources Inc.,headquartered in Canadaplans to invest$7.1 billion to build green hydrogen and ammonia production facilities powered by a 5,850 MWp solar generation complex in Arequipa,Peru.The new plant is projected to be online in 20

62、27.Though,contradictorily to outlined sustainability objectives global petrochemical(coal,oil,and gas)demand from LATAM remains strong,signaled by$26.2 billion in capital investment.In June 2021,Equinor ASAa Norway-based state-owned multinationalin partnership with Exxon Mobil Corpa US-based oil and

63、 gas corporationannounced plans to develop the Bacalhau oilfield off the coast of Sao Paulo,Brazil,with a syndicate investment of$8 billion.Construction is expected to commence in 2025.In July 2024,Shellthe UK-based oil and gas companyannounced its Final Investment Decision(FID)on the Manatee projec

64、t;an undeveloped gas field in the East Coast Marine Area(ECMA)in Trinidad and Tobago.The project posits to accelerate Shells ambition to grow its LNG business by 20-30%by 2030.FDI Trends in LatAm|December 2024 WWW.GLOBALDATA.COM GlobalData Plc 2024|12 Top Source Markets/Investors Figure 7:Thermal di

65、splay of Latin American inbound FDI by capital investment Source:GlobalData FDI Database (Data depicted is extracted from GlobalDatas FDI Database,indicating each countrys sum capex in Latin America,as of October 2024.The sum amount of capex in Latin America is given in brackets adjacent to source c

66、ountries.Nations colored in darker blue indicate stronger FDI presence,incrementally shaded to lighter blue,signifying weaker.)According to GlobalDatas FDI database,the three top market sources of FDI in Latin America are the US,Spain,and China.FDI in Latin America from these countries has been driv

67、en by economic,geographic,and strategic interests.The US The United States has invested significantly in Latin America,capitalizing on proximity through the nearshoring approach,aiming to shorten supply chains,reduce logistics costs,and strengthen its economic ties with the region.This approach has

68、growing interest as the US seeks to reduce dependency on distant markets like China,especially after recent geopolitical tensions and pandemic-related disruptions in global supply chains.Latin Americas close geographic location,cultural connections,and existing trade agreementslike those with Mexico

69、make the region a practical choice for US investment in sectors like automotive,electronics,and medical supplies,which rely on rapid logistics and consistent supply chains.Under initiatives such as the Americas Partnership for Economic Prosperity(APEP),the US has encouraged economic development in L

70、atin America to create a stable,interdependent regional economy.APEP,for example,emphasizes sustainable growth,clean energy,and technological collaboration to ensure that Latin America remains a competitive partner and a viable alternative to Asian manufacturing hubs.Additionally,Latin America is in

71、creasingly positioning itself as a sustainable energy hub,with a higher proportion of renewable energy production than many other FDI Trends in LatAm|December 2024 WWW.GLOBALDATA.COM GlobalData Plc 2024|13 regions.This aligns well with the US drive toward greener industries and presents a compelling

72、 factor for the US to prioritize investment in Latin America over other manufacturing locations.Spain Spains investment in Latin America reflects linguistic and historical ties,strengthening its engagement across sectors like finance,telecommunications,and energy.The shared language eases integratio

73、n for Spanish firms,which benefit from cultural affinity and a robust network of trade agreements between the European Union and Latin American countries.Spains FDI is also encouraged by the regions growing consumer markets and favorable conditions for renewable energy projects.Approximately 76%of S

74、panish companies plan to increase investment in the region,with Mexico,Colombia,and Brazil serving as central hubs,according to IE University,Auxadi,and Iberia.Many companies see Latin America as a promising area where revenues may even surpass those in Spain,with nearly 58%of large firms estimating

75、 their turnover from Latin American operations will exceed what they currently have in Spain.This trend aligns with a broader strategy for accessing large,growing markets,including Mexicos 130 million population and Colombias emerging middle class with more than two million Colombian households movi

76、ng from poverty into the“middle class”over the past ten years.Additionally,Latin America offers a skilled workforce that allows Spanish firms to innovate locally and occasionally export these innovations back to Spain.Despite challenges such as complex tax systems in Brazil,and economic volatility a

77、nd corruption in certain countries,Spanish companies are strategically navigating these obstacles as they expand further into the region.China Chinas significant investments in Latin America are part of its broader strategy to secure critical resources and raw materials,expand trade,and build influe

78、nce across the globe.Chinas interest in the region is substantially linked to its need for raw materials,such as copper,soybeans,oil,and,more recently,lithiuma vital component in electric vehicle batteries.With much of the worlds lithium resources concentrated in the Lithium Triangle:Argentina,Boliv

79、ia,and Chile,Latin America has become vital to Chinas electric vehicle ambitions,and Chinese companies have intensified their investments in this sector.In addition to energy and raw materials,Chinese companies have expanded their footprint in Latin America by constructing and operating key infrastr

80、ucture,such as ports and power grids,particularly in Brazil and Chile.In Brazil,for instance,Chinese firms now own substantial shares in the countrys hydropower plants and energy distribution networks.This control over strategic infrastructure aligns with Chinas long-term goal of maintaining influen

81、ce in the region while strengthening its economic and logistical ties.Politically,Chinas influence has been bolstered by investments aligned with its Belt and Road Initiative(BRI),a global development strategy aimed at improving trade routes and fostering economic connections with partner countries.

82、At least 21 Latin American countries have signed onto the BRI,helping China create favorable conditions for further investments and trading partnerships.FDI Trends in LatAm|December 2024 WWW.GLOBALDATA.COM GlobalData Plc 2024|14 Inward FDI Performance Index Another way to analyze FDI performance is

83、to look at a countrys inbound receipt of FDI in relation to global FDI and compare it with its proportion of global GDP.This enables us to determine whether a country receives the level of FDI expected considering the countrys economic power.=()/()The index examines,any given country level of FDI,me

84、asured in capital expenditure out of total global FDI,denoted as.This share is then divided by the proportion of each countrys contribution to global output(GDP).Figure 8:Inward FDI Performance Index Rank Country Score Capital investment($M)No.projects 1 Bolivia 6.84 4162 5 2 Guyana 4.82 1075 10 3 U

85、ruguay 3.66 3702 21 4 Costa Rica 3.38 3821 152 5 Mexico 3.06 71597 567 6 Chile 2.93 12849 105 7 Jamaica 2.29 567 9 8 Dominican Republic 1.99 3129 33 9 Colombia 1.22 5818 137 10 Brazil 1 28411 276 11 Barbados 0.71 59 8 12 Honduras 0.69 317 9 13 Panama 0.68 738 15 14 El Salvador 0.54 242 16 15 Argenti

86、na 0.4 3457 70 Source:GlobalData FDI Database As evident in Figure 8,Bolivia ranks as the number one country in Latin America on the Inward FDI Performance Indicator as the countrys share of global FDI far outweighs its share of global GDP.Furthermore,in chronological order of index score,Guyana ran

87、ks second,followed by Uruguay,Costa Rica,Mexico,and Chile.Intuitively,the disposition of a nation to inbound FDI(as a share of GDP)is often influenced by the degree to which a nation is willing to forfeit ownership over national assets.In 2023,Bolivias government debt to GDP ratio hit 85.1%,necessit

88、ating more external fiscal stimulus to write off debt and drive projects domestically;a pertinent factor Bolivia ranks so highly.However,more recently,political paralysis is staining the investment climate.Since Juan Jos Zigas attempted military coup against President Luis Arc in July of 2024,little

89、 has been done to resolve the tension meaning insecurity persists.Accordingly,GlobalDatas Q3 2024 Construction Risk Index ranks Bolivia 80th out of 91 tracked nations at 73.17;for comparison,Russia scored 78.05.FDI Trends in LatAm|December 2024 WWW.GLOBALDATA.COM GlobalData Plc 2024|15 Concluding In

90、vestment Climate Analysis Inward FDI to LATAM has burgeoned from$90.4 billion(2019)to$155.4 billion(2023),driven by Mexico,Brazil,and Chile,which are capitalizing on their rich endowment of critical metals,petrochemical supply,and evident renewable energy potential.FDI to alternative LATAM economies

91、 such as the Dominican Republic,Argentina Uruguay,are more nuanced to tourism,agribusiness,and financial services.Nevertheless,across the region,strong US,Spanish,and Chinese investment is accelerated by diverging structural global dynamicsoften defined as deglobalization.In Argentina,President Mell

92、ie is taking valiant steps to check government overspending.In Brazil,the Banco Central do Brasil is exhibiting confident independent fiscal decision-making to protect the Brazilian Reel and foreign investments.In Chile,rebounding copper/lithium production is matched by overwhelming demand globally.

93、In Mexico,President Claudia Sheinbaum is setting a judicial framework for renewable energy investment.Accordingly,LATAM FDI has grown from 10%(2019)to 12%(2023)as a percentage of total global greenfield(inward)FDIsymbiotically to declined investment in Asia.For decades,it has been unequivocal that w

94、ith the accommodating fiscal parameters and lower political turnover Latin America remains prime for economic and FDI development;GlobalDatas FDI Database aligns with this consensus.Additionally,the significance of a labor supply with a world-renowned work ethic should also not go understated.Howeve

95、r,moving forward,the ability of LATAM to continue to pool strong inward FDI hinges on the ability of diplomats to appease both poles of the US-China divide;If(reshoring,sustainability,and semiconductor)trends extrapolate and politicians can navigate this fragile dynamic strategically,strong inbound

96、FDI will follow,otherwise FDI prospects will be lost in geopolitics and the forthcoming sandstorm of international trade embargos.FDI Trends in LatAm|December 2024 WWW.GLOBALDATA.COM GlobalData Plc 2024|16 Further Reading Title Latin America and Caribbean Energy Transition-Sectors and Companies Driv

97、ing Development Reshoring and Nearshoring:How MNCs Are Adapting to the International Economic Climate Brazil to benefit from China stimulus Strategic Intelligence:US Elections 2024 Executive Briefing Source:GlobalData FDI Trends in LatAm|December 2024 WWW.GLOBALDATA.COM GlobalData Plc 2024|17 Our Th

98、ematic Research Methodology Companies that invest in the right themes become success stories.Those that miss the important themes in their industry end up as failures.Viewing the worlds data by themes makes it easier to make important decisions We define a theme as any issue that keeps a senior exec

99、utive awake at night.GlobalDatas thematic ecosystem is a single,integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors.It has a proven track record of identifying critical themes early,enabling companies to make the righ

100、t investments ahead of the competition and secure that all-important competitive advantage.Traditional research does a poor job of picking winners and losers The difficulty in picking tomorrows winners and losers in any industry arises from the sheer number of technology cyclesand other themesthat a

101、re in full swing right now.Companies are impacted by multiple themes that frequently conflict with one another.What is needed is an effective methodology that reflects,understands,and reconciles these conflicts.That is why we developed our thematic engine At GlobalData,we have developed a unique the

102、matic methodology for ranking all major companies in all major sectors based on their relative strength in the big themes that are impacting their industries.Our thematic engine tags over 180 million data items across six alternative data setspatents,jobs,deals,filings,social media,and newsto themes

103、.The vast datasets within our thematic engine help our analysts to produce sector scorecards that identify the companies best placed to succeed in a future filled with multiple disruptive threats.How do we create our sector scorecards?First,we split each industry into sectors because a different set

104、 of themes drives each sector.Taking the TMT(technology,media,and telecom)industry as an example,we split this industry into the sectors shown in the graphic below.Our five-step approach for generating a sector scorecard Here we use tech,media,and telecom as an example sector for illustration purpos

105、es Source:GlobalData SectorsThemesResearchThematic screenSector scorecard1.Split the global TMT2.Identify and rank the3.Identify and score 4.Calculate overall 5.Rank leading companies inindustry into 17 sectors.top 10 themes disruptingleaders and challengersthematic rankings foreach sector using our

106、 three each sector.for each theme.all companies in a sector.screens.Sector Scorecard=Thematic screen+Valuation screen+Risk ScreenHardwareSemiconductorsConsumer electronicsComponent makersIT infrastructureTelecom infrastructureIndustrial automationSoftware and ServicesApplication softwareCloud servic

107、esEnterprise securityGamingIT servicesInternet and MediaEcommerceSocial mediaAdvertisingMusic,film,and TVPublishingTelecoms2.Cloud computing3.Blockchain1.Artificial intelligence10.Internet of Things FDI Trends in LatAm|December 2024 WWW.GLOBALDATA.COM GlobalData Plc 2024|18 Second,we identify and ra

108、nk the top 10 themes for each sector(these can be technology themes,macroeconomic themes,or industry-specific themes).Third,we publish in-depth research on specific themes,identifying the winners and losers within each theme.The problem is that companies are exposed to multiple investment themes,and

109、 specific themes relative importance can fluctuate.So,our fourth step is to create a thematic screen for each sector to calculate overall thematic leadership rankings after taking account of all themes impacting that sector.Finally,to give a crystal-clear picture,we combine this thematic screen with

110、 our valuation and risk screens to generate a sector scorecard used to help assess overall winners and losers.What is in our sector scorecards?Our sector scorecards help us determine which companies are best positioned for a future filled with disruptive threats.Each sector scorecard has three scree

111、ns:The thematic screen tells us who are the overall leaders in the 10 themes that matter most,based on our thematic engine.The valuation screen tells us whether publicly listed players appear cheap or expensive relative to their peers based on consensus forecasts from investment analysts.The risk sc

112、reen tells us who the riskiest players in each industry are,based on our assessment of four risk categories:operational risk,financial risk,industry risk,and country risk.How do we score companies in our thematic screen?Our thematic screen ranks companies within a sector based on overall leadership

113、in the 10 themes that matter most to their industry,generating a leading indicator of future earnings growth.Thematic scores predict the future,not the past.Our thematic scores are based on our analysts assessment of their competitive position in relation to a theme,on a scale of 1 to 5:1 Vulnerable

114、 The companys activity in this theme will be highly detrimental to its future performance.2 Follower The companys activity in this theme will be detrimental to its future performance.3 Neutral The companys activity in this theme will have a negligible impact on the companys future performance,or thi

115、s theme is not currently relevant for this company.4 Leader The company is a market leader in this theme.The companys activity in this theme will improve its future performance.5 Dominant The company is a dominant player in this theme.The companys activity in this theme will significantly improve it

116、s future performance.How do our research reports fit into our overall thematic research ecosystem?Our thematic research ecosystem is designed to assess the impact of all major themes on the leading companies in a sector.To do this,we produce three tiers of thematic reports:Single theme:These reports

117、 offer in-depth research into a specific theme(e.g.,artificial intelligence).They identify winners and losers based on thematic leadership,market position,and other factors.Multi-theme:These reports cover all themes impacting a sector and the implications for the key players in that sector.Sector sc

118、orecard:These reports identify those companies most likely to succeed in a world filled with disruptive threats.They incorporate our thematic screen to show how conflicting themes interact with one another,as well as our valuation and risk screens.FDI Trends in LatAm|December 2024 WWW.GLOBALDATA.COM

119、 GlobalData Plc 2024|19 About GlobalData GlobalData is a leading provider of data,analytics,and insights on the worlds largest industries.In an increasingly fast-moving,complex,and uncertain world,it has never been harder for organizations and decision makers to predict and navigate the future.This

120、is why GlobalDatas mission is to help our clients to decode the future and profit from faster,more informed decisions.As a leading information services company,thousands of clients rely on GlobalData for trusted,timely,and actionable intelligence.Our solutions are designed to provide a daily edge to

121、 professionals within corporations,financial institutions,professional services,and government agencies.Unique Data We continuously update and enrich 50+terabytes of unique data to provide an unbiased,authoritative view of the sectors,markets,and companies offering growth opportunities across the wo

122、rlds largest industries.Expert Analysis We leverage the collective expertise of over 2,000 in-house industry analysts,data scientists,and journalists,as well as a global community of industry professionals,to provide decision-makers with timely,actionable insight.Innovative Solutions We help you wor

123、k smarter and faster by giving you access to powerful analytics and customizable workflow tools tailored to your role,alongside direct access to our expert community of analysts.One Platform We have a single taxonomy across all of our data assets and integrate our capabilities into a single platform

124、giving you easy access to a complete,dynamic,and comparable view of the worlds largest industries.FDI Trends in LatAm|December 2024 WWW.GLOBALDATA.COM GlobalData Plc 2024|20 Contact Us If you have any more questions regarding our research,please contact us:Head of Thematic Intelligence Cyrus Mewawal

125、la +44(0)207 936 6522 Customer Success Team Understand how to use Thematic Intelligence +44(0)207 406 6764 _ Disclaimer:GlobalData Plc.All Rights Reserved.This information has been extracted from GlobalDatas Intelligence Center by a registered user.No part of this publication may be reproduced,store

126、d in a retrieval system,or transmitted in any form by any means,electronic,mechanical,photocopying,recording,or otherwise,without the prior permission of the publisher,GlobalData.The facts of this report are believed to be correct at the time of publication but cannot be guaranteed.Please note that

127、the findings,conclusions,and recommendations that GlobalData delivers will be based on information gathered in good faith from both primary and secondary sources,whose accuracy we are not always in a position to guarantee.As such GlobalData can accept no liability whatsoever for actions taken based on any information that may subsequently prove to be incorrect.GlobalData is not authorized or permitted to provide regulated investment advice.Any data or analysis provided by GlobalData,either verbally or in writing,should not be considered as regulated investment advice.