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The global economic map could change in the coming years with the rise of two Latin American giants that are gaining more and more weight on the international stage.
Various reports and projections place Brazil and Mexico as future players in the world economy by 2030, with the capacity to compete with the leading powers.
The two most powerful economies in Latin America
Brazil and Mexico account for a large share of Latin American economic power:
- They represent a significant portion of regional GDP
- They have massive domestic markets
- They lead industrial and production sectors
Brazil and Mexico upset the global balance and challenge the major superpowers
If both countries manage to coordinate strategies or strengthen their ties, the impact could be significant:
- Greater influence in international markets
- Increased global bargaining power
- Positioning as a relevant economic bloc
Latin America could gain prominence compared with other regions.
Brazil and Mexico will be the future world powers in 2030
Projections from international consultancies such as PwC and Standard Chartered agree that Brazil and Mexico have the potential to move up in the global rankings and consolidate themselves among the most influential economies by 2030.
These analyses are based on structural factors such as the size of their domestic markets, sustained consumption growth, the availability of natural resources, and their integration into international trade.
In addition, both countries are well positioned to capitalize on global trends: Mexico for its key role in supply chains close to the United States (nearshoring), and Brazil for its leadership in exports of food, energy, and raw materials.