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?