The British Insurance giant BUPA expects to start operations in late 2011 or early 2012.
The company plans an investment of $2 million for its initial operation in the country, and hopes to expand its activities, said Anthony Cabrelli, chairman of BUPA for Latin America and the Caribbean.
According to an article by Batres Alexis in Elperiodico.com.gt “Enrique Murillo, executive director of the Guatemalan Association of Insurance Institutions (Agis), believes that the entry of BUPA into the domestic market will be seen as direct competition. ‘It will provide healthy competition for the sector’ he said. "
Due to the European crisis, during the first five months of the year Guatemalan exports to the old continent have dropped by about $28 million, which is 8.1%.
During the first five months of 2012 total sales to European countries summed $316.9 million, 8.1% lower than the $344.9 million for the same period in 2011, according to statistics from the Bank of Guatemala (Banguat).
The country has become the largest market for franchising in the region, with sales of $300 million annually.
Of all the franchises operating in the country, who together generate about 525,000 direct jobs, 65 are national chains and of these, some already have a presence in other countries such as Pollo Campero, and La Holandesa among others.
The Guatemalan Exporters Association is a private non-profit entity, established in 1982; that represents, promotes and develops non traditional exports of Guatemalan companies.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Guatemala
Phone: (502) 2422-3400
As part of the Agritrade Platform, Guatemala will participate for the 27th time in PMA Fresh Summit, the most important international trade show and convention of fruits and vegetables in the United States, which will take place at Anaheim Convention Center, California from October 17th to 19th.