Honduras' Increasingly Competitive Business Environment Attracts Foreign Investors

- Central American nation jumps 12 spots in the World Economic Forum Global Competitiveness Index, more than any other Latin American country.

Dec 03, 2015, 17:22 ET from Honduras Presidency

TEGUCIGALPA, Honduras, Dec. 3, 2015 /PRNewswire/ -- Efforts from the government and private sector to promote Honduras as a destination for investment are steadily improving the environment for doing business in the Central American nation, where a path for economic growth is taking shape.

In 2015, Honduras climbed 12 spots in the 2015 – 2016 Global Competitiveness Report issued by the World Economic Forum, more than any other nation in Latin America. The report presents the rankings of the Global Competitiveness Index (GCI), which assesses the competitiveness landscape in 140 global economies based on twelve key pillars including institutions, innovation, financial market development and goods market efficiency, among others. Honduras obtained a 3.95 score (out of a possible 7) and the 88th position in the global ranking, compared to 3.82 and 100th, respectively, in last year's ranking.  

Honduras showed improvement in nine of the twelve pillars measured by the index. The country fared particularly well in the efficiency enhancers and innovation and sophistication factors sub-indices. Honduras climbed 23 positions in the goods market efficiency pillar, rising to the 68th place. Additionally, it ranked 38th in terms of financial market development, 54th in terms of business sophistication and 55th in terms innovation.  

"The international community has no doubt taken notice of the remarkable improvements in the environment for doing business in Honduras," said Alden Rivera, Honduras' Secretary of Economic Development. "The government and private sector will continue working hand in hand to promote the many opportunities Honduras has to offer international investors, particularly in key industries such as tourism, infrastructure and logistics that make the country one of the most attractive destinations for doing business in Central America today."

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Media Contact:

Honduras Presidency
Sandra Castillo, +504-2290-5084
scastillo@presidencia.gob.hn

SOURCE Honduras Presidency