English multinational sets up its first Latin American office in ChilePublished: July 27, 2009
Euromonitor, one of the world's leading market research companies, has established its South American office in Chile. It is designed to become an expansion platform for the rest of the world.
The market intelligence company Euromonitor International has set up a new office in Santiago. The company's eight branches cover five continents and include offices in London, Chicago, China, Singapore, Dubai, South Africa and Lithuania.
Scott Rencher, Regional Director in Chile, confirmed that, "we chose Chile because it provides us with a stable operations base and the qualified workers necessary to develop our business in Latin America. At the same time, it allows us greater penetration into the region."
The executive added that "Latin America has been a focus of strategic development for several years. Over recent years, our client base has continued to grow and it was therefore essential to establish a physical presence."
According to the company, the level of consumption in Latin American countries has risen due to increased earnings. Latin America has become an important trading partner for other regions such as Asia-Pacific, and its high rates of growth in industries such as cosmetics and personal care, packaged food, and personal finance (or consumer credit), have raised the region's profile in global markets.
The launch of its operations in the region will allow Euromonitor to get closer to its local clients and expand the research networks that already operate in Latin America. "At the moment, everyone is analysing their long-term investments and their strategic plans, and looking for new trading partners. Given the importance that Latin America is acquiring in the global market, it's crucial that companies have the information which allows them to analyse their local and international opportunities to grow, and the type of competition they face," added Rencher.
"Euromonitor is internationally recognised for its research work in various areas. Furthermore, our consultancy division is able to perform research on demand to satisfy the needs of our clients," he concluded.
Sources:
www.economiaynegocios.clwww.euromonitor.com