Consumers in Uruguay spend more per capita than shoppers in any other Latin American country, according to a new study from Euromonitor International.
The report, which focused primarily on grocery store expenditures, found Uruguayans spent US$730 per capita in 2012 which is 61% more than the number two Latin American market, Chile, where consumers spent US$453. Uruguay shoppers left the other regional Top Five in a cloud of express check-out dust: Costa Rica (US$335), Brazil (US$130) and Mexico (US$95).
El Pais says the new numbers serve as additional validation for foreign companies looking for an attractive emerging market with much higher than average household incomes and expenditures. In fact, an A.T. Kearney analysis released July 18 places Uruguay in the #3 spot ahead of China in the Global Retail Development Index (GRDI).
The GRDI ranks a country’s retail attractiveness in terms of 25 macroeconomic variables, and Uruguay received the highest marks for “Market Attractiveness” (92.0 out of 100) and “Country Risk” (73.9 out of 100) on par with countries like Chile and the UAE. (Full Story in Spanish)
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