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Chile Makes Top 10 Strongest Economy Index

Chile Makes Top 10 Strongest Economy Index

In 2013, Chile scored a 79 in the Economic Freedom test.  Thus, making Chile the 7th freest country leading over the U.S., which scored a 76 and is the 10th freest country.  It is the top country within the Latin Caribbean region.  This country owes their .7-point increase since 2012 to an efficient judicial system and conservative public financial management.

Chile has made a movement to encourage trade and entrepreneurial investments.   The average tariff rate is 4 percent, but have several free trade deals with several countries including the U.S.  Foreign and domestic investments are clear and equal.  Opening a small business is quick and easy with no minimum capital needed at start-up.

The economy has experienced a 5.9 percent GDP (Gross Domestic Product) since 2012 and has grown 3.9 percent over the past 5 years.  This is a direct reflection of the Chilean economic success.  In comparison to the U.S. this is exceptional.  The U.S. has only seen a 1.7 percent growth since 2012 and .5 percent over the past 5 years.  Unfortunately, the U.S. has experienced a steady decline in the Economic Freedom Index since 2009.  Although from 2009 to 2010 Chile experienced a drastic dip in the freedom scoring as many countries did; the country then experienced a steady incline since 2010.

What are your thoughts on retiring in Chile?

 

Sources:

http://www.heritage.org/index/

http://www.ustr.gov/trade-agreements/free-trade-agreements/chile-fta

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