Consumer Finance in Latin America: Challenges and opportunities in an emerging region

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Description

Latin America is one of the world’s emerging markets.  The region is comprised of 20 countries with a combined population of about 570 million people. According to Sawaya (2007) the region has a combined GDP of $3.3 trillion as per 2008 estimates. The region has experienced rapid financial growth in the recent past, making it one of the most attractive regions for investors from all over the world. Although product penetration is quite low in the region, there has been tremendous growth in consumer finance infrastructure especially in consumer credit, which shows enormous long term prospects.  Latin American presents opportunities and challenges in consumer financing.