Latin America Response
The spread of COVID-19 across the world has caused significant disruption to businesses and supply chains, and the same is true in Latin America. The region felt the impact of the virus even before it reached its borders.
As Chinese and European demand slowed, Latin American economies began feeling the effects of the incoming storm. Furthermore, the coronavirus pandemic is heavily affecting travel and tourism industries, once one of the fastest-growing industries in Latin America. Coupled with the eventual decrease in domestic consumption and record lows in the price of oil and gas, the spread of COVID-19 became the perfect storm for many economies across the region. And this was before Latin Americans became infected.
As we provide counsel to our clients and partners on responses for this situation, there is one message we believe is worth stressing repeatedly for global corporations: there is no one-size fits all approach to COVID-19. The level of stress and business disruption being felt varies across geographies and industries, and Latin America’s uniquely complex situation will demand an equally tailored approach.
