The growing demand for applications, data storage, and artificial intelligence (AI) has driven an inflow of USD 183.8 million into Mexico as of September this year. Foreign investment attracted by Mexico for the construction of data centers surged this year, reaching record levels in the second quarter, according to data from the Ministry of Economy (SE). Between April and June, the country received USD 183.8 million from foreign companies for the provision of infrastructure related to computing services, data processing, website hosting, and other associated activities.

Before this period, the highest level of investment in this type of infrastructure occurred in the first quarter of 2023, with USD 9.6 million, according to figures from the federal government’s Foreign Direct Investment (FDI) portal.

Growing Demand for Digital Infrastructure

Efrén Páez, senior analyst at DPL Group, explained that corporate demand for applications, data storage, and artificial intelligence (AI) has driven investments in Mexico for the construction of new data centers. He highlighted that another factor attracting investment in this sector is national legislation requiring that financial and health data be stored within the country.

“For the past two or three years, we’ve been discussing investment in data centers—especially since the issue of data sovereignty began to gain attention. At the same time, there has been a rising demand from the private sector for apps, which coincides with the growing use of AI,” the specialist noted.

Páez emphasized that such investments take time to be fully executed and that they involve not only capital spending on infrastructure but also operational expenditures, including personnel. In this regard, he estimated that foreign direct investment in data centers will continue to grow in the coming quarters.

“The expectation within the sector is for further increases in this type of infrastructure investment, particularly to serve industries that are demanding greater data storage capacity, such as finance, healthcare, and manufacturing.”

Strategic Hubs Driving Growth

According to the global consulting firm Turner & Townsend, Mexico is rapidly positioning itself as a strategic destination for data center investment in Latin America, driven by its strong connectivity, proximity to North American markets, and government programs for digital infrastructure. This momentum underscores how investment in data centers in Mexico is now a core part of the country’s digital transformation and economic modernization strategy.

In its Data Centre Construction Cost Index 2025–2026 report, the firm asserts that Querétaro is emerging as the country’s main development hub, offering a unique combination of competitive costs and government support.

“The region is attracting hyperscale operators and service providers, but it must now meet the technical and logistical demands of AI infrastructure,” the report highlighted.

The study also notes that 83 percent of experts believe local supply chains are still not ready to sustain the growing technological demand brought by AI, which means demand for this type of infrastructure will continue to rise.

Challenges and Opportunities for Sustainable Expansion

The consultancy identifies 2025 as a key year for the announcement and development of data centers, as developers transition from traditional air-cooled facilities to high-density liquid-cooled data centers designed for AI workloads. Analysts agree that investment in data centers in Mexico is entering a critical phase that will determine the country’s ability to sustain large-scale digital operations.

“Mexico is in a unique position to become a leader in AI-driven data center development. Querétaro’s growth is a clear signal of investor confidence, but success will depend on strengthening supply chains and ensuring reliable access to energy,” the report added.

“The biggest challenge for the growth of data centers in Mexico is ensuring the availability of energy and water,” both the DPL Group analyst and the consulting firm agreed.

Páez added that human capital will also be crucial for driving new projects, noting with optimism that more Mexican universities are introducing engineering programs focused on this sector. Data from the Ministry of Economy show that in previous years, investment in data centers was practically nonexistent. However, in the last two quarters, the trend has shifted dramatically, with capital inflows exceeding USD 183 million.

Global Tech Giants Lead Investment Momentum

Companies such as Amazon, Microsoft, Google, and CloudHQ have all announced significant investments in data centers in Mexico. In February of last year, the company founded by Jeff Bezos announced a USD 5 billion investment to create its Cloud Region. Seven months later, in September, Microsoft revealed plans to inject USD 1.3 billion into Mexico in 2025 as part of its cloud and AI service expansion projects.

In September of this year, CloudHQ—one of the world’s leading data center developers—announced a USD 4.8 billion investment for the construction of a data center complex consisting of six separate facilities in Querétaro.

These projects illustrate how investment in data centers in Mexico has evolved from a niche area into a national priority, transforming the country into a key regional player in digital infrastructure. As AI adoption accelerates across industries, this trend is expected to continue reshaping Mexico’s technological landscape and attracting even greater levels of foreign capital.

Colombia Records Over 20 Million International Tourists and USD 14.712 Billion in Foreign Investment in Three Years

Promoting Colombia abroad, diversifying exports, and expanding air connectivity helped consolidate it as one of the countries in Latin America with the highest growth in investment and tourism, as confirmed in recent figures that show record foreign investment in Colombia and the arrival of more than 20 million tourists in the last three years.

Record Foreign Investment in Colombia

A coordinated effort led by ProColombia, the government agency that works to promote exports, foreign investment, and tourism, has helped Colombia expand its global presence. This alignment, understood by more regions as a genuine alternative for business, is making Colombia a best practice example in how synergistic public policy can generate sustainable and inclusive growth.

“The results achieved are thanks to the efforts of the public and private sectors and the strengthening of the ecosystem in our regions,” said ProColombia’s president, Carmen Caballero. “We are connecting Colombia with the world through a strategy that has as its central axis the promotion of our people, our territories, and the sustainability of our projects,” she added.

With this strategy, the Colombian government is positioning the country as not only a leisure and business tourism destination, but also as a solid business platform for investors and exporters seeking to reach international markets. A proposal that has been key in materializing record foreign investment in Colombia, and which also seeks to support the development of these two economic activities in a balanced way throughout the different industries.

Record Foreign Investment in Colombia: Tourism Continues to Grow and Regionalize

Tourism continues to be a key activity to increase Colombia’s visibility abroad and bring dynamism to the national economy. In the last three years, more than 20 million international visitors have been received and 68 new air routes have been launched, generating more opportunities for internal and external connectivity.

Destinations such as Cabo de la Vela, the Magdalena River, or the Coffee Axis (Eje Cafetero) are some of the regions that have benefited the most directly from this boom, since they were disconnected from the main corridors and now have greater dynamism in the development of small businesses, the construction of hotels, and the creation of eco-friendly tourism and adventure projects. The sector is also a generator of jobs and opportunities for sustainable development, since there are already thousands of families who live off tourism.

The Colombian tourism model is also one that is increasingly focused on sustainability. Through the promotion of responsible tourism practices, the preservation of natural resources, and the active participation of local communities in tourism projects, Colombia is consolidating itself as a green destination.

The main international markets for investment and exports

The United States, Canada, Spain, Brazil, and Mexico are the main international markets for investment in Colombia. However, there has also been significant growth in investment flows from China, the Netherlands, Switzerland, South Korea, and Japan.

In terms of exports, the United States, Venezuela, Peru, the Netherlands, and Brazil are the top destinations. E-commerce has also become an increasingly important channel for exports, with sales growing by more than 25% in the last year. There has also been growth in non-traditional exports such as technology services, design, and audiovisual content, with Colombia’s Orange Economy also making an important contribution to export growth.

Tourism continues to be a major driver of Colombia’s international recognition and dynamism. In the last three years, more than 20 million international visitors have been received in the country, and 68 new air routes have been opened, generating greater connectivity both internally and with the rest of the world.

Colombia participated in Expo Osaka 2025

Colombia’s Pavilion received 1.3 million visitors in three months, with a commercial projection of USD 34.6 million and 31 new investment opportunities at Expo Osaka 2025

Colombia’s participation in the Osaka Expo 2025 exhibition is another milestone that reflects international interest in the South American country. The Colombian Pavilion received 1.3 million visitors over three months and obtained commercial projections of USD 34.6 million and 31 new investment opportunities.

The team led by the Ministry of Commerce, Industry, and Tourism and ProColombia under the banner “Colombia, the Country of Beauty” brought together Colombians from all over the country and from different walks of life to show in Osaka what makes Colombia unique and worthy of being an ideal place to live and do business.

The pavilion stood out for the design that captured Colombia’s biodiversity and cultural diversity, and the technological advances being made in fields such as health, education, and the creative industries. The campaign won more than 25 international awards for its creative effectiveness, including a 2025 Cannes Lions award.

ProColombia’s Targets for 2025

ProColombia will aim to attract more than 7 million non-resident visitors and 150 new foreign investment projects by the end of 2025, in line with the vision to strengthen the country’s presence in international markets.

“The achievements we materialize as record foreign investment in Colombia should not be the simple result of statistics. Our greatest mission is that every one of these triumphs has its origin in and generates well-being for our regions and real opportunities for small businesses,” Caballero added.

Carmen Caballero also pointed out that Colombia’s inclusion in more and more routes by international airlines has allowed the national territory to “find connectivity, be it for business travel, in the case of investment, or leisure travel in the case of tourism, and both in domestic markets in terms of regional economic growth”.

Targeted Promotion Helps Colombia Gain Recognition

ProColombia has used both traditional and digital channels to market the country to the world, with great success and impact. Targeted campaigns in different markets have shown the best results and have placed Colombia as one of the reference countries in internationalization.

Two new routes that Colombia has been taking in recent years have to do with the direct export promotion of Colombian products and services in the territories of other countries and participation in key fairs and events that position the country as a leader in different sectors.

The opening of the Chinese market to Colombian beef and Colombian poultry in Japan in 2024 was a key moment in the growth of exports in recent years, since they are countries have more stringent requirements for food safety and quality. In other words, they were milestone projects to enter two new continents for Colombian agricultural exports, which are already consolidating the country’s reputation as a supplier of top-quality products. In other words, they were two significant milestones to be able to enter two new continents for Colombian agricultural exports, which are already consolidating Colombia’s reputation as a supplier of top-quality products.

Beyond traditional agriculture, other non-traditional Colombian exports such as processed food products, technology services, and creative content have been growing and are making a positive impact. In fact, the creative economy or Orange Economy has started to show encouraging results in sectors such as audiovisual production, music, design, and others that are also now part of the government’s promotion strategy.

Colombia is consolidating its progress in sustainable growth at the global level and is increasingly involved in markets and regions such as Asia, Europe, and North America. Record foreign investment in Colombia is growing, and the nation is making itself known as a global leader in tourism and as an important location for business.

The Ecuadorian government has reduced country risk by almost 1,300 points since 2023; Noboa points out that this is the result of his economic policy.

The country risk of Ecuador decreased to 688 points, based on the latest data released by the Central Bank of Ecuador (BCE). This indicator measures the perception of investors about a country’s ability to pay and meet its financial commitments, and has marked a new milestone in the history of Ecuador. The current value has been registered as a noticeable decrease from 693 points the previous day, on Thursday, November 6, and an even more significant drop when compared to the values that were still above 2,000 points a year ago.

President Daniel Noboa described the event as a reflection of regained confidence in the South American nation. In a statement broadcast on national television and shared on social media, Noboa said that the drop in country risk is a direct result of his government’s economic and fiscal reforms, which seek to restore stability, rebuild credibility with international creditors, and generate conditions for long-term investments to arrive in the country.

The Ecuadorian president also commented on the low inflation rate of 1.24% in October, the lowest for that month since 2021, as a strong indicator of a more stable and controlled macroeconomic environment. Noboa has also explained that the low inflation is a safeguard for the purchasing power of households, a factor that reduces uncertainty for businesses and investors, and also allows for a more predictable environment for investment.

Daniel Noboa shares achievements about Ecuador country risk

In his official X (formerly Twitter) account, the President published a post sharing information about Ecuador country risk, and he details that this shows real and positive economic results.

“The lies fall by themselves when there are results. Our country risk has fallen to 688 points, down nearly 1,300 points since we took office, and inflation in October 2025 was 1.24%, the lowest for that month since 2021,” he said.

The country risk index is an indicator that measures the sentiment of investors and international markets regarding the creditworthiness of a particular nation. A high indicator value means that the international market considers the country to be a high-risk destination for investment, which results in higher interest rates for loans. A lower country risk value, on the other hand, is a sign of greater confidence, allowing access to international financing at lower rates, and it also enables the government to carry out funding for development projects with greater ease.

Economists in the country and abroad have considered this reduction in country risk to be one of the largest that has occurred in the Latin American region in the last year. This measure reflects, on the one hand, the positive reception that the market has given to fiscal discipline and, on the other hand, that it anticipates that the government will continue on a steady path of responsible management of the country’s economy.

Ecuador’s International Reputation Improves

The fall of Ecuador country risk by more than 1,300 points since President Daniel Noboa took office in November 2023 has led to an improvement in the country’s image in international markets. The dramatic drop in risk from 2,016 points to 688 is seen as an endorsement of the administration’s pragmatic and market-friendly approach to economic recovery.

The financial community believes that the decrease in country risk will allow Ecuador not only to obtain better conditions when requesting loans on the international stage, but also to improve the outlook of the private sector. As credit costs decrease, both public and private companies will have easier access to financing for projects in areas such as infrastructure, energy, and technology. All these achievements will also open the doors for job creation and will contribute to the diversification of the economy in areas such as agriculture, mining, renewable energies, and logistics.

The Central Bank of Ecuador and several financial analysts have agreed that this steady decline in country risk opens the way to obtaining new lines of credit from multilateral organizations and foreign investors. In addition, this improvement boosts Ecuador’s reputation as a reliable investment destination, especially at a time when international markets are looking for stable and transparent economies in Latin America.

Analysts have also pointed out that government efforts to modernize the public sector, rationalize spending, and promote greater private participation in key sectors have helped to create a more predictable business environment. Dialogue with business associations and a commitment to transparency are also being recognized as key factors behind the positive reaction of the markets.

IMF publishes criticism of Rafael Correa’s “Correísmo” model

The announcement by President Noboa comes at a time when the International Monetary Fund (IMF) has also published a report on the economic model of “Correísmo”, a term used to refer to the policies followed by former President Rafael Correa from 2007 to 2017.

The IMF report points out that this model left behind an economy with fiscal fragility, high spending, and debt accumulation.

According to the IMF, public spending reached historic levels under the Correa administration, with financing coming mainly from oil revenues and external loans, without the corresponding increase in productivity or reserves to protect the country’s medium and long-term stability.

“The country financed current expenses and extensive subsidies with extraordinary oil revenues, with credit and with savings funds,” the report said.

The report criticizes that this model created a dependence on a variable factor, such as the price of oil, and limited fiscal space to adjust in case of adversity. In addition, it defined Correa’s policies as procyclical, that is, instead of saving or reducing debt in times of boom, the state increased its spending and subsidies.

In 2012-2014, the non-financial public sector deficit went from almost zero to 3.5% of GDP, reflecting a deterioration of fiscal discipline. In subsequent years, when the price of oil plummeted, Ecuador found itself with less liquidity and fewer resources to cope with external shocks.

The IMF report also notes that the model of “Correísmo” weakened Ecuador’s capacity to create buffers for times of crisis, favoring short-term spending over structural reforms. As a result, the country emerged less able to face volatility in international markets and with a weaker and less competitive state, burdened with debt and without fiscal space to implement countercyclical policies.

“The legacy of that model is a more vulnerable, less competitive state with no fiscal space to respond to external shocks,” concluded the IMF.

Toward a new economic stage

The administration of Daniel Noboa, on the other hand, has positioned itself as a promoter of fiscal responsibility, transparency, and modernization. The implementation of measures such as the promotion of responsible debt management, the encouragement of private-sector investment, and the strengthening of relations with multilateral organizations has been crucial for rebuilding Ecuador’s credibility.

The Organization for Economic Cooperation and Development (OECD) recognized El Salvador’s actions in the digital agenda, the promotion of digital education, and the increase in productivity among micro and small enterprises.

The Organization for Economic Cooperation and Development, in its Latin American Economic Outlook 2025 report, has recognized El Salvador as a country that has been advancing consistently in the design and implementation of public policies that promote productive transformation with the purpose of strengthening the foundations of the economy and making it more resilient and innovative. The OECD added that over time, El Salvador has developed a series of measures that have been able to boost the process of technological adoption, consolidate the digital ecosystem, and increase the competitiveness of the business sector in the country. These actions, the organization specified, are part of the strategy that is known as “promotion and financing of productive transformation in El Salvador” and that the country has been carrying out since 2014. The document, prepared jointly with the Economic Commission for Latin America and the Caribbean (ECLAC), the Development Bank of Latin America and the Caribbean (CAF), and the European Commission, indicates that El Salvador has advanced in the generation of mechanisms that have strengthened its industrial matrix and the productive capacity of micro, small, and medium-sized enterprises (MSMEs).

Digital Agenda 2020-2030: Guidelines for Digitalization

In its report, the OECD highlighted the Digital Agenda 2020–2030, a document that has functioned as a national strategy for guiding the country’s accelerated technological transformation. It added that with this agenda, the Salvadoran state has established milestones that correspond to the pillar “Innovation, Education and Competitiveness,” which is based on three strategic lines of work: the promotion of research in new technologies, the development of digital education to strengthen human capital, and the generation of support mechanisms for start-ups and technological parks. Through the Digital Agenda, the government of El Salvador is seeking to strengthen its enabling environment for innovation-driven economic growth. In this sense, the document also notes that El Salvador is recognizing international best practices to move forward in this area. This is done by ensuring that there is public-private collaboration, the development of digital infrastructure and connectivity, and, finally, the productive transformation in El Salvador must ensure the participation of rural and traditionally excluded communities, among other actions, in order to be able to achieve in the long term productive transformation in El Salvador and make technological advancement the basis for sustainable development.

Increasing MSME Productivity: Generating Inclusive Opportunities

The OECD also recognized that El Salvador has taken important steps in the development of its National Policy for the Development of Micro and Small Enterprises. This public policy seeks to increase productivity, competitiveness, and sustainability in the country’s most dynamic productive sector. The organization noted that MSMEs represent more than 95% of Salvadoran companies and employ a large percentage of the country’s workforce, becoming a key lever for inclusive economic growth. In this sense, the policy being implemented by El Salvador promotes the digitalization of small and microenterprises, access to credit, and technical assistance programs aimed at improving their management and innovation. In this task, the government has been working in alliance with the National Commission for Micro and Small Enterprises (CONAMYPE) in order to broaden training programs in the formalization of businesses, e-commerce, and preparation for exports. In addition, the strategy is supported by financial instruments for linking local entrepreneurs with regional and international value chains. In this way, by incorporating the axes of innovation and sustainability in the development of micro and small enterprises, El Salvador is addressing one of its main structural challenges, low productivity, as well as strengthening its economy’s competitiveness in global markets.

Industrial Development Plan 2025-2029: For a More Diversified and Competitive Economy

Another policy that the OECD report draws attention to is the Industrial Development Plan 2025–2029, which, as the document explains, seeks to transform the country’s productive matrix in 26 industrial sectors. The plan, according to the text, is aimed at strengthening productive diversification through the strengthening of sectors such as agroindustry, pharmaceuticals, textiles, electronics, or renewable energy, among others. The OECD points out that the Plan takes up aspects of two previous frameworks, the Policy for the Promotion, Diversification and Productive Transformation 2014–2024 and the Cuscatlán Plan 2019–2024, which also had as their main axes the promotion of technological modernization and the attraction of investment to the Salvadoran economy. On the other hand, the new industrial policy sets ambitious goals for innovation, industrial clustering and export growth in the next few years, promoting, for example, the incorporation of Salvadoran companies into regional value chains or the use of clean technologies that improve competitiveness. For the OECD, these measures are part of the Salvadoran government’s strategy to achieve productive transformation by moving from a model focused on low-value-added production to one based on knowledge-intensive industries.

Financing mechanisms and strategic alliances

In addition to policies, for the OECD report, financing mechanisms have been central for the Salvadoran government to implement its transformation and modernization agenda. It indicates that the resources of the national budget are being complemented by loans and agreements for co-financing with institutions such as the Inter-American Development Bank (IDB) and the Development Bank of Latin America and the Caribbean (CAF). At the same time, the report acknowledges that El Salvador is strengthening its strategic partnerships with the Central American Bank for Economic Integration (CABEI) and the European Union, in order to access additional financial resources and technical assistance. As an example of this, the report points out that the EU, together with the German government, has offered credit lines and capacity-building programs for MSMEs focused on innovation and sustainability. In this way, the document indicates that these types of alliances are demonstrating how international cooperation is becoming a key factor for El Salvador in the context of the productive modernization process that the country is carrying out.

A Green and Sustainable Transformation

In addition to productive and digital transformation, the OECD report also recognized El Salvador’s efforts to move forward in the generation of actions aimed at achieving the energy transition. In this sense, the country has been advancing in the fulfillment of a memorandum of understanding signed with the European Union, which has implied the generation of technical and financial support for projects that will promote energy efficiency and circular economy models, and the generation of renewable energy in the Salvadoran territory. This effort, the document added, is also supported by the Geothermal Energy for Sustainable and Inclusive Development Project, which is part of the 2023–2027 Partnership Framework signed with the World Bank. This initiative, the document specifies, aims to expand the participation of renewable energy in the electricity matrix while also generating employment and strengthening local capacities in clean technologies. This is not the only initiative in the field, as El Salvador, through the GeoH2Verde Triangular Cooperation Project, has been working together with Colombia, Germany, and Honduras on a strategy to assess the possibility of producing green hydrogen as a potential energy source for the future.

International cooperation and long-term vision

In conclusion, the OECD report stated that international cooperation has become a determining axis for the Salvadoran government in the task of financing productive and sustainable development. By promoting greater participation of multilateral banks, regional and international organizations, and the private sector, the country has managed to expand its access to long-term financing for its productive matrix, reduce its economic dependency on traditional sectors, and support the generation of innovation ecosystems. In the long term, it is the responsibility of the Salvadoran state to incorporate the progress made so far into a comprehensive long-term industrial and digital strategy. For the OECD, this implies the articulation of technological innovation, the search for environmental sustainability, and educational reform as the only way to ensure inclusive and sustainable growth. The OECD concluded by specifying that El Salvador’s ongoing efforts to modernize its production systems, prepare its human capital, and empower innovation and productivity are already beginning to build a clear path towards a sustainable, productive transformation in El Salvador in a resilient economy. In it, the country seeks to position itself as a reference for other Latin American nations on the road to sustainable, technology-driven, and inclusive development.

The multibillion-dollar megaprojects in both countries illustrate how the tensions between development, bureaucracy, and ecology are determining the region’s future. In the context of Latin America’s imperative of modernization, megaprojects in Costa Rica and Chile have become case studies in the challenge to balance development and preservation, economic growth, and ecological and social balance. Two such cases, which have kept a close eye on the strategic pillars of each country, represent the dilemma of nations whose wealth is concentrated on environmental and social responsibility. The vulnerability of large investments that depend on public-private partnerships, energy policy, and digital transformation reveals the underlying challenges of the region’s development model.

Costa Rica’s Megaprojects Bet and its Suspension

In Costa Rica, the so-called megaprojects package, valued at almost US$2 billion, would have included a series of energy, infrastructure, and logistics projects aimed at consolidating Costa Rica as a country of sustainable and responsible investment in recent years. However, the government of President Rodrigo Chaves ordered a technical review and suspended their implementation under the premise of ensuring transparency, which generated unease in the private sector of a country that has long positioned itself as a safe haven for foreign investment. The official explanation given is one of control and commitment to efficiency, but some analysts have described the measure as destabilizing for investors, especially in a small economy that has based its marketing strategy on predictability and responsible environmental management.

The economic package suspended by the executive includes projects considered essential for long-term competitiveness: port expansion, renewable energy, and road improvements to connect industrial parks to export terminals, as well as initiatives in high-growth sectors of national production. According to private chambers of commerce in Costa Rica, the stoppage means a loss to the economy of several hundred million dollars and the stagnation of job creation in areas traditionally dependent on public works. However, government spokesmen assure that transparency and technical requirements are necessary guarantees for Costa Rica to maintain its image as a responsible and long-term destination for global capital.

Megaprojects in Costa Rica and Chile and the Green Identity Issue

The suspension also reveals underlying structural issues in Costa Rica’s development model. A country that generates 98% of its electricity from renewable sources must now prove its capacity to conflate environmental stewardship with competitiveness in the face of regional and global scenarios that demand large infrastructure investments. Megaprojects in Costa Rica and Chile crystallize the latent conflicts between environmental leadership, social identity, and the urgency of economic modernization.

Costa Rica’s growth model has historically been anchored in ecotourism and low-impact exports, but the evolving global economy increasingly demands more logistics and digital connectivity. The large public-private projects that include the modernization of airports and clean energy plants are the tools for preventing the country from stagnating. However, environmental groups, as well as legal and bureaucratic mechanisms, have transformed each megaproject into a national controversy on Costa Rican identity, governance, and the boundaries of economic growth.

Chile’s Experience in the South: The Case of HidroAysén

In Chile, the case of HidroAysén is a hydroelectric megaproject of several billion dollars and a generation capacity of more than 2,700 megawatts in the Aysén region in southern Patagonia. The plans for the energy complex on the Baker and Pascua rivers collided with social and environmental rejection, criticism of potential impacts, and a wave of protests. The end came in 2017 with its definitive cancellation, a blow to the then-dominant extractive model in the South American macroregion. The limit of “progress at all costs” was expressed in a conflict of national proportions between economic elites and social sectors allied with environmental groups. The HidroAysén project marked a before and after in the public perception of large projects in Chile, eroding the social license for investments previously considered favorable.

In Chile, the legacy of HidroAysén marked a milestone in the country’s energy transition. The 2020s in Chile are characterized by large solar and wind projects, mainly in the Atacama Desert, which already account for a third of national consumption. In fact, 50% of electricity generation comes from distributed renewable projects, reducing the need for centralized megaprojects. However, experts point out that the approval system in Chile remains complex and cumbersome and that the country continues to experience investor apprehension, as seen in Costa Rica. The country needs large infrastructure to complete its long power lines and the generation of capacity for the future, but some of its initiatives, especially transmission and infrastructure works, suffer from the same bottlenecks.

Suspension of Projects and the Demand for Greater Transparency

Costa Rica and Chile are cases in point for public-private megaprojects that today are testing their political and social sustainability. In both countries, there is now popular demand for greater transparency and environmental guarantees on the one hand and investor demand for regulatory certainty and speed on the other. The tension points to a regional trend in which government officials must convince voters that large-scale projects can bring the promise of betterment without repeating the corruption and ecological damage that have stained the history of Latin America.

Megaprojects in Costa Rica and Chile are also tales of increasingly influential civil society. The role of grassroots organizations, indigenous peoples, and environmental associations has become a cornerstone in the approval or veto of large projects. Their weight will force the region’s leaders to rethink decision-making mechanisms and incorporate greater participation in the definition of the national interest.

Future scenarios and regional implications

Megaprojects in Costa Rica and Chile also affect Latin America beyond their borders. In the 2020s, large investments in the region are exposed to a triple pressure phenomenon that will determine the consolidation or not of a new model of sustainable and stable growth. Megaprojects are caught between demands for more environmental protection, greater citizen oversight, and changes in investment policies. Those who succeed in walking this tightrope will shape the future of the region. The cost of failure, on the other hand, could be severe: flight of capital and investment, social conflict, and loss of competitiveness.

Costa Rica and Chile are two nations with parallel stories, the tension between their traditional green identity and the need to offer good investment conditions in a context of global economic transformation. Their future will condition the shape of investment policy in the 2030s and how Latin America will approach its next wave of industrial, energy, and transportation megaprojects. If successful, the region’s nations will be able to set an example of a new generation of megaprojects to reconcile progress and preservation. The prize will be to redefine the role of Latin America in the global economy. Otherwise, Costa Rica and Chile will be premonitory cases of countries whose paths and development models have been altered by obstacles of their own making.

Conclusion

Megaprojects in Costa Rica and Chile are part of a continental process of search for balance between the preservation of nature and the spirit of progress. Their experience so far shows that the region’s infrastructure future depends on more than engineering and financial resources. Citizen consensus, institutional credibility, and environmental respect will be the parameters for defining whether these billion-dollar bets are a promise of progress or a warning sign.