Publish in Trade Talk - Wednesday, December 9, 2020
Argentina was the only large Latin American economy which saw an increase in ad spending this year, including outdoor billboards, according to Zenith. Here the Avenida 9 de Julio in capital Buenos Aires. (Photo: Dalibor Ribicic)
Guilherme Benchimol, CEO and Chairman of Brazilian brokerage XP, received the 2020 Brazil-Florida Business Award. (Photo: XP)
Talent, digital competitiveness, XP founder recognized, telecom data prices.
BY LATINVEX STAFF
While total advertising expenditure in Latin America likely fell by 13.8 percent to $25.1 billion this year, spending on Internet ads actually grew 4.3 percent, according to estimates by UK-based ad agency Zenith.
Meanwhile, Argentina managed to see an increase of 19 percent to 60.7 billion pesos (US$744 million).
That contrasted with Brazil and Mexico. Brazil, the top ad market in Latin America, suffered a 15 percent decline to 48.4 billion reais (US$9.5 billion), while Mexico saw a 17 percent fall to 93.2 billion pesos (US$4.6 billion)
While Brazil saw declines in all media categories, Mexico saw a 33 percent jump in Internet spending.
Argentina saw an increase in all media, according to Zenith estimates.
The UK agency expects that next year will see a rebound, with total Latin American ad spending reaching $27.6 billion.
TALENT: MEXICO UP, BRAZIL DOWN
Mexico and Brazil improved while Colombia worsened on the latest World Talent Ranking from Swiss-based business school IMD.
The ranking scores countries across three factors of Investment & Development, Readiness and Appeal.
Mexico now ranks in 56th place, up four spots, while Brazil ranks 59, up two spots. Colombia fell four spots to 58th place.
Chile (41) is the Latin American leader, followed by Argentina (47), while Venezuela (60) remains the laggard.
XP FOUNDER RECOGNIZED
Guilherme Benchimol, CEO and Chairman of Brazilian brokerage XP, received the 2020 Brazil-Florida Business Award.
The award was handed out by the Brazil-Florida Business Council led by Sueli Bonaparte.
“This special occasion gives us the opportunity to acknowledge and celebrate an exemplary business leader and his extraordinary corporation for their strategic vision and valuable contributions to the sustainable development of the economies of Brazil and Florida,” the council said in a statement about the awardee.
A veteran in the financial services market for more than 20 years, Benchimol founded the XP Group in 2001 and has been its CEO since its inception. Currently, he also serves on the board of XP Brazil as its Chairman since 2018. Benchimol was listed in Bloomberg50: The People Who Defined Global Business in 2018 by Bloomberg Businessweek. He holds a bachelor’s degree in business economics from Universidade Federal do Rio de Janeiro.
XP Inc. is Brazil’s largest brokerage by equity trading volume. Inspired by Charles Schwab, XP Inc. has been at the forefront of changing the way Brazilians invest by offering middle-class investors access to sophisticated investment products and trading platforms. The IPO held last December on Nasdaq was the fourth-largest listing in the U.S. In 2019.
TELECOM DATA: MEXICO, COLOMBIA MOST EXPENSIVE
Mexico and Colombia have the world’s most expensive prices for 1 Gigabyte of data among telecom operators, according to new research by Arthur Little quoted by Colombian newspaper La Republica.
Both countries typically charge more than European countries like The Netherlands.
Meanwhile, Peru is more expensive than Spain and Argentina more expensive than the UK, according to the research.
DIGITAL COMPETIVENESS: BRAZIL UP, MEXICO DOWN
Brazil improved on the latest World Digital Competitiveness Ranking
The ranking measures the capacity and readiness of 63 economies to adopt and explore digital technologies as a key driver for economic transformation in business, government and wider society.
Brazil moved up six spots to 51st place, while Mexico dropped five spots to 54th place and Colombia fell three spots to 61st place, making it one of the three worst countries on the ranking.
Chile remains the leader in Latin America, at 41st place, up one spot compared to a year ago, while Venezuela again is the worst in the world, at 63rd place.
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