Mexico hosted the World Economic Forum on Latin America 2015 earlier this month, and one major issue addressed is how Latin America can maintain sustainable economic growth going forward. Stock market index futures After more than a decade of growth saw Latin America’s share of global GDP grow from 5.9 percent to 6.4 percent in 2013, the region’s relative size has sunk in the past two years and is expected to be 6.3 percent.
What’s important to understand is just how diverse Latin America is. Uk usd exchange rate Two countries have GDPs greater than $1 trillion, five have GDPs between $100 and $500 billion, and 14 are smaller than $100 billion. Usd to sar Of these 21 countries, only nine have a GDP per capita of greater than $10,000.
Some of these countries are wealthy in natural resources. Binary code Seven countries generate 12 percent of global oil production and 7 percent of natural gas; four countries produce 21 percent of global iron ore 51 percent of copper; three countries produce 53 percent of global soy beans, 38 percent of orange production; four countries yield 30 percent of the world’s beef and 24 percent of poultry.
Yet this wealth of natural resources is not yet reflected in individual wealth. Gbp usd news Productivity is the key: By one prominent measure, GDP per employee, Latin American levels are less than 30 percent of U.S. Gold price per ounce levels, which has led to a corresponding difference in income per capita.
Improving labor productivity will be central to fostering economic development, and leaders across the region need sound, creative ideas to improve them. Pound exchange rate to dollar Important factors to consider include:
Exchanging dollars for local currency in Venezuela and Argentina can make sense, but carefully consider all the options first.Business travelers arriving in Venezuela and Argentina will quickly learn that trading U.S. Usd to thb dollars or Euros for local currency on the black market has become an ingrained part of daily routines. Australian to us dollar exchange rate Spurred on by skyrocketing or wildly fluctuating exchange rates stemming from both countries’ difficult economic conditions, many visitors simply abandon any attempt at legal currency exchange. Funny quotes with pictures about life Before deciding whether or not to dabble in these technically illegal transactions, however, it’s important to carefully evaluate the risks and rewards of playing the black-market game.
Company Credit Card or Reimbursement: Stay OfficialFor well-healed corporate travelers who either benefit from a generous per diem reimbursement rate from their company or who can simply put all of the expenses on the company credit card, it makes sense to avoid the possible pitfalls of the black market altogether. Aud usd investing Even in Venezuela, where the high cost of such basic expenses as hotel rooms, dining and taxi rides make doing business in New York or London look downright inexpensive by comparison, the risk of running afoul of the law will likely outweigh the benefit of hefty savings on daily expenses.
Tighter Budget: Consider Black-Market Exchange in VenezuelaFor those on a tighter budget, however, the 50% to 75% savings that black market currency exchanges provide may quickly add up to big savings. Usd to nis According to Xpatulator.com, a site that evaluates the cost of living of 732 cities in the world, Caracas ranks as the seventh most expensive place on earth. Usa today news Venezuela’s highly overvalued Bolivar currently trades on the official exchange rate at 4.3 Bolivar to 1 U.S. Exchange rate usd to chf dollar. Euro exchange rate to canadian dollar Given the vociferous hunger for dollars and Euros in that nation, black-market exchange rates of up to four times the official level can be obtained for sums of $1,000 or more. Commodity meaning in hindi Even for a significantly smaller amount, those who hold cherished greenbacks, or even Euros, can receive two to three times more Bolivares than the official rate would permit.
Visitors arriving at Maiquetía, the international airport that serves Caracas, will quickly be approached and invited to exchange currency if they project even the slightest appearance of a foreign businessperson or tourist. Cad to usd conversion rate During a typical stay in the country, such visitors will be approached time and time again and invited to change dollars at a very beneficial rate. Us to euro exchange rate A discrete inquiry to a hotel bellman or taxi driver will also open the door to black market-type transactions.
In Argentina: Little Black-Market AdvantageIn Argentina, the cost of living is not as inflated. Cnbc pre market futures So, although the same basic structure of unofficial currency trading exists, the financial benefits of black-market ventures, compared to the situation in Venezuela, are somewhat more modest. Gbp usd exchange rate forecast The Argentine Peso currently trades at just less than 5 pesos to 1 U.S. Gender roles in india dollar. Love quotes for husband The black market rate of around 7 pesos to the dollar represents about a 40% benefit.
Avoid Illegalities by Negotiating to Pay in DollarsA common practice that negates the outright illegality of black market trading is offering to pay for goods and services with dollars. Exchange rate hkd usd If the offer is accepted – and given the high demand for U.S. Stock market terms and meanings currency, it often is – the rate in Argentina generally falls between the official and black market rates, producing a net benefit of about 20%. Gold prices today per ounce In Venezuela more than double that benefit can be anticipated.
Before deciding to exchange currency via the black market, consider the risks and the benefits, and always remember that it is illegal. Euro pound chart Just like jaywalking, however, many do it without giving it a second thought.