As the pandemic has changed the ways of accomplishing tasks and telecommuting has gained ground in all markets, flexibility in terms of where and when to work will be one of the factors most valued by employees in this new reality.
The threats caused by the spread of Covid-19, caused companies globally to look for new ways of working. Most teams chose to readjust their dynamics and focused on promoting remote work.
During March 2021, the Monthly Index of Economic Activity registered a -6% year-on-year variation, a decrease that is attributed to the effects of the sanitary emergency caused by Covid-19.
According to the most recent report of the General Comptroller's Office of the Republic, the Monthly Index of Economic Activity (IMAE) accumulated from January-March 2021 showed a decrease of 10.06%, compared to the same period of 2020.
For Fitch, the delay in vaccination campaigns constitutes a latent risk of a prolonged pandemic, which would delay the recovery of the region's economies and would cause negative pressures on the risk ratings to be issued in the coming months.
Fitch Ratings issued a bulletin for Mexico, Central America and the Caribbean on May 25, in which it warned that given the deep economic contractions in the region and the moderate recovery outlook, there are threats of negative rating pressures.
Arguing that the significant progress achieved to control the Covid-19 pandemic is put at risk, the Panamanian government decided to temporarily suspend the entry into its territory by land, sea and river, of all persons coming from the border with Colombia.
The Republic of Panama expresses its concern regarding the decision of the Government of the Republic of Colombia, contained in the Resolution of the Ministry of the Interior 0667 of May 19, 2021, by which they determine the opening of the maritime, land and fluvial crossings in the common border, highlights an official statement.
Panama has a new regulation that establishes requirements on materials, environment for the operation, design, manufacture, labeling, use, washing and final disposal of reusable fabric masks for personal use outside sanitary facilities.
The initiative, which applies to establishments dedicated to the industrial and artisanal manufacture of hygienic cloth masks, as well as their storage and distribution, is based on international standards; providing traders with the tools that will allow them to offer quality products and help in the protection against the Covid-19 virus, informed the Ministry of Commerce and Industries (MICI).
In the first week of April 2021, El Salvador, Nicaragua, Honduras, Dominican Republic and Guatemala were the countries in the region where the number of people visiting establishments identified as supermarkets was higher than the figures reported before the pandemic.
Over the course of the months and in the context of the reactivation of commercial activities, more Central American consumers have visited locations identified as supermarkets and pharmacies.
Reducing costs and barriers to foreign trade in Central American economies is key for the region to overcome the economic recession caused by the outbreak of Covid-19.
A report prepared by the World Bank explains that boosting economic activity and employing a higher percentage of the labor force are objectives that can be achieved through reforms that strengthen the private sector and attract investment.
As from April 19, the curfew nationwide will be from 12:00 midnight to 4:00 a.m. the following day, the opening of bars with outdoor terraces and the holding of sports activities with the public will be allowed.
As from next Monday, April 19, the public will be allowed to attend outdoor sports activities with a 25% capacity and without liquor sales, informed the Ministry of Health.
The business sector requests the country's authorities to repeal Executive Decree 260, which establishes measures to enter the national territory to people coming from South America.
The Chamber of Commerce, Industries and Agriculture of Panama (CCIAP) requests the National Government to discuss and support the measures to be implemented in a balanced manner, stressing the message that we are facing a health and socioeconomic crisis that must be addressed in a comprehensive manner, where decisions cannot be made exclusively by the Ministry of Health (MINSA).
In Panama, the Cabinet Council approved the extension for six more months of the decree which, in the context of the pandemic, provides tax benefits for the importation of medical and personal hygiene supplies.
The purpose of this policy is to maintain assured for the national population the access to hygiene and personal protection products at competitive prices, in addition to the acquisition of medical supplies necessary to strengthen and meet the medical and sanitary needs of the health sector in the fight against the pandemic that generated the outbreak of Covid-19.
In January of this year, the Monthly Index of Economic Activity reported a 15% year-on-year drop, which is similar to the behavior recorded from March to December 2020, a period in which the pandemic severely affected productive activities.
This index contracted considerably, due to the effects of the Covid-19 health emergency. Among the economic sectors that were affected were: Hotels and restaurants, other community, social and personal service activities, construction, commerce, financial intermediation, manufacturing industries, electricity and water, real estate, business and rental activities, and transportation, storage and communications, among others, according to the Comptroller General's Office of the Republic.
During 2020 in all countries of the region, construction activity decreased considerably and Central American cement imports stagnated, this adverse scenario is explained by the economic crisis generated by the pandemic.
The construction industry statistics system, which is part of the interactive platform "Construction in Central America" of CentralAmericaData's Business Intelligence area, compiles the most important industry data for each of the countries in the region.
The oversupply of office space and changes in the dynamics and ways of working of companies have led the office rental market to a corrective or adjustment phase, which is mainly evidenced by the downward pressure on rental prices.
At the beginning of 2021, CentralAmericaData expected that in the coming years, 4 out of 5 companies will bet on hybrid work modalities, which include face-to-face and remote activities. This phenomenon will force office supply to adjust to the new market conditions.
Central America must be the driving force behind a globally accepted document that will be vital for the recovery of the global economy and tourism in particular.
The generation of a physical or digital document of global acceptance (like national passports) that certifies that the bearer has been vaccinated against Covid-19 will facilitate the movement of people that has been severely restricted as part of the measures adopted by governments, both locally and internationally, to contain the pandemic.
Small warehouses located in strategic locations that serve to quickly distribute the merchandise sold online, are the type of properties that in this context of new business reality have gained ground.
When analyzing the Guatemalan market, it is reported that one of the geographic regions in which the productive activity of this sector is increasing is composed of Villa Nueva, Villa Canales and San Miguel Petapa, municipalities of the department of Guatemala that are located south of the capital of the country. This area is a commercial node that has developed quickly in recent years.
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