Chile is the best evaluated economy in Latin America and, indeed, one of the best evaluated among emerging economies worldwide. Its sustained economic growth and social progress have been highlighted by different international organizations and, in 2010, it became the first South American country to join the Organisation for Economic Co-operation and Development (OECD).
A place to investIts hallmark stability, transparency and competitiveness and excellent business prospects position the country not only as the best destination for foreign investment in Latin America and but also as one of the world’s leading destinations. According to the World Investment Report 2013 released by the United Nation Conference on Trade and Development th (UNCTAD), Chile was the world’s 11 largest recipient of foreign direct investment in 2012. With a record in-ow of US$30,323 million, Chile was among the top 20 recipients for the second consecutive year, th th rising from 17 place in 2011 to 11 place in 2012.
In the eight years from 2005 to 2012, Chile’s GDP grew at an average annual rate of 4.6%, according to the Central Bank of Chile. In 2012, in the midst of the European debt crisis, Chile’s economy demonstrated its resilience to adverse international conditions and GDP expanded by 5.6% to US$268,413 million. As a result, per capita income reached US$15,410 and, in purchasing power parity terms (PPP), US$18,419, according to figures published by the International Monetary Fund (IMF) in April 2013.