Regional Efforts Post-COVID-19 Make Latin America Stronger and Ready for Business, Tourism, and Direct Foreign Investment

-- Country Brands that Build Back Better

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Oct 01, 2020, 09:00 ET

SAN JOSÉ, Costa Rica, Oct. 1, 2020 /PRNewswire/ -- "We are all in the gutter, but some of us are looking at the stars," says Gustavo Koniszczer quoting poet Oscar Wilde. Koniszczer, the Managing Director of Future Brand Hispanic America, believes redefining business and tourism while building upon positive past accomplishments is the best strategy for ensuring a sustainable post-COVID-19 recovery in Latin America.

Daniel Valverde, Costa Rica Nation Brand Director

"Recovery from the current crisis will include reconstruction, but not starting from scratch," he argues. "We must build upon our existing strengths and take them to a higher level. We need to remember that each Country Brand acts as an emotional link between the visitor (or consumer) and the products we offer, such as tourism, exports, and direct foreign investment opportunities."

Country Brand Essential Costa Rica, for example, stands out because it represents businesses that comply with the brand's strict requirements. Companies wishing to be licensed Essential Costa Rica must pass a rigorous application protocol and demonstrate exceptionally high standards of sustainability, social progress, innovation, excellence, and national representation.

According to Koniszczer, today's new normal implies that countries will need to be more careful with the health and safety of future visitors, investors, and businesses. When deciding where to visit or whom to buy from, prospective customers are highly likely to ask, "where will I (my business) be cared for best?"

As a result of the pandemic, destination and commerce-oriented countries are reinventing themselves to reinforce the relationships with their audience and consumers. Building a relationship of trust includes ensuring workers are trained to take necessary precautionary measures, providing value-added products that comply with new hygiene standards, and guaranteeing every member of a supply chain is informed and protected

Jose Filipe Torres, CEO of Bloom Consulting, applied his firm's ranking variables and mathematical algorithms to evaluate and compare the performance of Latin American countries in response to the Coronavirus pandemic.

It turns out that although most of Latin America maintained positive public images for their efforts, Argentina, Chile, and Costa Rica ranked among the top in all dimensions, including as countries to buy from, visit, live in, or conduct operations. Brazil closed the benchmark with the highest number of negative mentions.

How does the Bloom Consulting report impact Country Brand effectiveness? In a nutshell, public perceptions dictate which countries are most likely to engage consumers and investors. Countries that applied effective methods to combat COVID-19 came out on top. For most of Latin America, the behavior of citizens and the respect for protective norms and social distancing created a positive perception among the global community.

"It's logical that companies looking to partner in Latin America will want to work with countries similar to Costa Rica that promote sustainable practices and respects their citizens. The country is becoming a world role model for addressing global challenges," concluded Torres.

Country Brand Director of PROCOMER's Essential Costa Rica, Daniel Valverde, says Latin America's most valuable asset in response to the pandemic is its resilience. "If there is one thing the citizens of Latin America know, it's how to navigate crises. This region has faced it all—from wars to political uprisings and environmental calamities. It is in our DNA to persevere," he says

Valverde adds that innovation is the critical element of success for businesses working to adapt to current challenges. "Improving communications, implementing digital platforms connecting clients and suppliers with international markets, and strengthening supply chain sustainability will ensure Latin America can enter the new era with vitality and promise."

Contact:
Seth Artavia, [email protected]

SOURCE Essential COSTA RICA