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Crime is costly for Guatemalan companies

Wednesday, March 28, 2012

Violence and corruption affect the confidence of both consumers and investors in Guatemala.

The impact of insecurity on the cost of doing business puts the country in last place in the world, according to the World Economic Forum’s recently published 2011-2012 Global Competitiveness Report.

Security issues impose a high cost on business throughout Central America, which in general ranks in the lower third of the countries surveyed.

In the region, business in Nicaragua is affected least by violence, followed by Panama and Costa Rica.

The Forum’s report is based on interviews with entrepreneurs in 142 countries, who were asked to specify the extent to which the incidence of violence increases their costs.

The numbers represent the position in the ranking of costs of crime and violence to business, being the highest spending more.

  1. Nicaragua 105
  2. Panamá 116
  3. Costa Rica 117
  4. Honduras 137
  5. El Salvador 141
  6. Guatemala 142