Market Research Report
Central America and the Caribbean Shows Gradual Recovery from the Disruptive Impact of COVID-19
|Central America and the Caribbean Shows Gradual Recovery from the Disruptive Impact of COVID-19|
Published: July 23, 2021
Frost & Sullivan
Content info: 96 Pages
Delivery time: 1-2 business days
Increased Future Growth Potential through Reshoring, Digitization, and Economic Diversification
The economic growth outlook for Central America and the Caribbean (CAC) countries is set to rebound in 2021 from the deep economic contractions experienced in 2020 on account of COVID-19 led disruptions. The region is still heavily dependent on external demand, be it tourism inflows in the Caribbean or trade in Central America.
As global growth is poised to make a growth recovery in 2021, regional growth stands to see improvement in the growth outlook. In this research, Frost & Sullivan has analyzed the macroeconomic outlook for Puerto Rico, Panama, Jamaica, Trinidad and Tobago, Costa Rica, Dominican Republic, Guatemala, Guam, El Salvador, and Honduras until 2028. The region grappled with strict containment measures, not to mention the multiple natural disasters that limited swift economic recovery. Improvement in global trade sentiment and mass vaccination campaigns provide a silver lining to regional growth in 2021.
The study puts into perspective the political backdrop against which economic elements operate. 2020 saw mass protests in several countries on account of discontentment over the handling of COVID-19. As domestic lockdown and border closure are lifted, migration to the US will steadily rise.