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Did you know that over 70 percent of Florida’s goods exports end up in Latin America? Florida enjoys a special relationship with Latin America, which could prove incredibly lucrative in years to come. As you’ll see from this infographic, markets in Latin America are booming, and Floridian companies are ideally placed to take advantage of stronger bonds and new trade deals.
This infographic showcases the potential for growth in trade between Florida and Latin American countries and demonstrates some of the most important and influential industries. Trade between Miami and countries like Mexico and Brazil is increasing by 10 percent per year and individual industries, including communications, aviation and healthcare are growing rapidly. Figures show that mobile phone subscriptions are set to rise from 810 per 1,000 people to 1,100 per 1,000 people by 2020. Importantly, there has been a significant increase in spending power among the middle class, which has expanded in the last decade. An additional 73 million people are able to afford private healthcare, and spending power has also been linked to increased phone ownership statistics. The aviation sector grew by over 11 percent in 2011/2012 alone, and it is estimated that an additional 2,000 passenger planes will be needed over the course of the next 20 years to cope with growing demand. South Florida is already home to more than 1,000 multinational corporations, and one-third of US exports pass through Florida. With business booming, Florida looks set to benefit from its special relationship with Latin America for years to come.
Infographic design by VoiceOnyx