Internet use U.S. investors say the amount of business activity they conduct on-line will more than double in five years and that Latin America’s economic success hinges on the region’s ability to master technology, according to a survey released by FleetBoston Financial. The survey of 200 senior multi-national executives and money managers in the United States shows they expect a dramatic increase in their own use of the Internet for business purposes. It also found that technology is viewed as far more important than manufacturing to Latin America’s future. The results were released at the Inter-American Development Bank annual meeting, which this year is devoted to discussing the potential impact of technology on Latin America.
”For many years manufacturing growth was considered the key to Latin America’s future, but it is clear that U.S. investors now believe it is far more important for the region to fully embrace the new economy,” said Henrique de Campos Meirellas, president of FleetBoston Financial’s Global Bank, which includes leading franchises operating throughout Latin America under the name BankBoston. “We share investor sentiment that Latin America must demonstrate its ability to integrate technology throughout the economy. And we see new evidence every day that the region will successfully use technology to greatly increase the pace of economic development.”
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U.S. investors are generally more confident in Latin America than they were a year ago and strongly support increased use of dollarization policies to manage currency stability, the survey found.
In addition, Brazil has made a remarkable comeback in investor’s confidence. A year ago in a similar survey only 13 percent of U.S. investors listed Brazil as their top investment choice, as the nation finished third behind Mexico and Chile.
