Ernst & Young published an infographic on the thriving economies of Latin American countries and the reasons behind their expansion both within the region and outside Latin America.

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A sizable percentage of businesses are expanding within the region to fill a gap in the market, showing that the market is far from saturated and there are many opportunities to pursue growth and expansion within Latin America, making it a great choice for business owners to enter.

There are several advantages of registering a company in Argentina, a few of which are as follows:

(1) Argentina has a liberalized domestic market, and coupled with government incentives, making it an ideal location to set up regional headquarters to do business in the Latin America region;

(2) 100% foreign ownership is permitted when incorporating a company in the country.

Latin American businesses are not just thriving in the region, but are expanding outside to generate more growth via a larger customer base and new distribution channels.

Entrepreneurs and business owners may want to look into Panama, which is fast gaining a good reputation. Panama takes the second place in the 2013 Latin Business Index, an index compiled by the Latin Business Chronicle annually which measures the business climate in the region’s 18 largest economies.

Forming a company in Panama has the following advantages:

(1) Panama is a member of the Free Trade Area of the Americas (FTAA), which makes it an ideal for businesses to enter the American market;

(2) Company registration is cost effective and fast and there is no minimal capital requirement.

For more information, visit our in-depth guide to incorporating companies in South America.

Headline Image via David Berkowitz / Flickr