Ranking points to São Paulo as the best state to invest in Latin America
Investe São Paulo brought the state of São Paulo to the top of the list in the investment attraction categoryInveste São Paulo
São Paulo has just been elected as the most attractive state in Latin America for investments, according to the ranking of the British magazine fDi, edited by the Financial Times group.
The survey is the result of the “Latin American States of the Future 2018/19” study and, of all 171 participants, São Paulo ranked first in the overall ranking.
The figures also showed that the state that concentrates the highest GDP in Brazil is at the top of the list in the categories “Economic Potential”, “Business Friendliness” and “FDI Strategy - investment attraction”.
With the announcement, São Paulo expands its leadership in terms of economy and competitiveness, as it had reached the first position of the ranking among the South American states, since 2014. Now, the state’s potential stood out compared to the Latin American states.
The study highlights the performance of Investe São Paulo, the agency responsible for promoting investments in the state. According to the survey, achieving the highest position of the ranking in the investment attraction strategy is also a result of the efforts of Investe SP. “Being named as the best state to invest makes us very proud and shows that we are on the right track in identifying opportunities, encouraging partnerships and providing support to entrepreneurs and potential investors. This is what makes the state grow,” says the president of the agency, Marcos Monteiro.
“Among the 171 states, we have the highest GDP and were elected as the most attractive to investors. And that is since 2013. Companies invest in São Paulo as a gateway to expand across the Brazilian territory and also to export to all of Latin America from the largest market, which is the state of São Paulo,” says Sérgio Costa, investment director of Investe São Paulo.
Opportunities and knowledge
According to data from Greenfield, investment monitor fDi Markets, 592 companies invested in 659 projects in the state of São Paulo during the period under analysis.
To illustrate the work of Investe São Paulo between 2017 and 2018, we can mention Atento, a contact center operator based in Spain, which hired 3,000 people for its contact center in Guarulhos. The company also has a base in the state capital and both investments relied on the support from the Investe SP, amounting to more than US$ 46 million.
São Paulo’s reputation as the state with the highest concentration of regional offices of multinationals and investment centers has led it to the first place in the Business Friendliness category. And the top of the ranking for Economic Potential is the result of its production capacity, skilled labor, logistics, variety of suppliers and high-quality supply chain, and a secure institutional environment for investments.
Data was collected for 171 locations, under five categories: Economic Potential, Human Capital and Lifestyle, Cost Effectiveness, Infrastructure and Business Friendliness. Together, the rankings of subcategories and the Strategy ranking make up the overall ranking of “Latin American States of the Future 2018/19”.
Check out the top 25 – Overall ranking:
1 São Paulo
2 Buenos Aires Autonomous City - Argentina
3 Mexico City
4 Nuevo León - Mexico
5 Querétaro - Mexico
6 Bogota - Colombia
7 Metropolitana de Santiago - Chile
8 Guanajuato - Mexico
9 Rio de Janeiro - Brazil
10 Jalisco - Mexico
11 Antofagasta - Chile
12 Buenos Aires Province - Argentina
13 Coahuila - Mexico
14 Baja California - Mexico
15 Parana - Brazil
16 Lima - Peru
17 Atacama - Chile
18 Santa Catarina - Brazil
19 Minas Gerais - Brazil
20 Chihuahua - Mexico
21 Rio Grande do Sul - Brazil
22 San Luis Potosí - Mexico
23 Aguascalientes - Mexico
24 Flores - Uruguay
25 Mexico- Mexico
Check out the complete result here.