In 2024, major regional corporations announced significant expansion projects across Central America and in markets like the United States. Multinational companies like Nestlé and Bimbo stood out with new project launches for Central America.

The publicly announced investments confirmed by companies amount to over $3.575 billion. However, the figure is likely higher since expansion projects and acquisitions were documented. The largest investment in Central America in 2024 reflects a year of significant corporate moves.

2024 was a dynamic year for investment announcements. According to an analysis by revistaeyn.com, the major announcements were led by Guatemalan companies that strengthened their expansion and investment plans.

The publicly announced investments confirmed by companies total over $3.575 billion, but the number is undoubtedly higher, as additional expansion projects and acquisitions were recorded where transaction amounts were not disclosed. The largest investments in Central America in 2024 have reshaped the economic landscape and positioned the region as a hotspot for corporate growth.

One such case involved the Guatemalan Corporación Multi Inversiones (CMI), which announced on November 1 that it had agreed to acquire a majority stake in Del Real Foods in the United States, a company specializing in producing ethnic foods for that market.

Del Real Foods, based in Jurupa Valley, California, produces refrigerated, hot, and ready-to-eat Hispanic foods. CMI now controls its manufacturing plants in Mira Loma, California, and Moore, Oklahoma, along with an extensive distribution network. This acquisition represents the most significant investment by a Guatemalan company in Central America in 2024 into the U.S. market.

This acquisition is significant as it will diversify CMI’s business and position it within a key Hispanic market. Although details of the agreement remain undisclosed, revistaeyn.com considers it the largest acquisition of the year.

Progreso Expands to the Caribbean

The Guatemalan company Progreso also stood out for entering the Dominican market by purchasing Cemex’s regional operations. This deal underscores one of the largest investments in Central America in 2024, further consolidating regional growth.

In August, the company confirmed an agreement to acquire 100% of Cemex’s operations in the Dominican Republic, including its export business to Haiti. This acquisition positions Progreso as the gateway to the Caribbean market.

The transaction, valued at $950 million, includes a cement plant, two integrated production lines, related cement, concrete, aggregate assets, and maritime terminals. It marks the largest investment in Central America in 2024 for the construction and manufacturing sector.

2024: A Year of Major Business Deals

Overall, 2024’s investment announcements were diverse, spanning retail, banking, hospitality, food, construction, and manufacturing sectors.

The deals documented throughout the year by revistaeyn.com reveal significant corporate activity that promises to consolidate further in 2025. The largest investments in Central America in 2024 indicate strong momentum in local and international business initiatives.

Here are some of the major business moves in Central America in 2024:

CMI

The Guatemalan corporation announced its acquisition of a majority stake in Del Real Foods in the U.S., representing one of the largest investments by a Central American company in the world’s largest consumer market. Additionally, its Pollo Campero brand opened its 100th restaurant in Miami Gardens, Florida, and set an ambitious goal to double its locations within three years.

Walmart Central America

The company announced a $1.3 billion plan for its regional operations over the next five years. This initiative stands out as one of the largest investments in Central America in 2024 in the retail sector.

The retailer aims to strengthen its presence, managing over 900 regional stores. Highlights include the construction of a Perishables Distribution Center in Costa Rica.

Progreso

In August, the Guatemalan group announced it had agreed to acquire 100% of Cemex’s Dominican Republic operations in a $950 million deal, increasing its production capacity by 30%.

Aristos Inmobiliaria

The Salvadoran company announced a $250 million investment to develop AirCity, the first airport free trade zone in El Salvador and the region.

The project will be built on a 532,271 m² site at the San Óscar Arnulfo Romero International Airport. The initial $50 million phase will establish infrastructure to house companies in aeronautics, e-commerce, logistics, and trade.

Futeca Corporation

The Guatemalan company announced Distrito Futeca, a project involving a shopping center and event forum in Guatemala City’s Zones 5 and 10. The $250 million investment will begin in 2025, with the shopping center set to open within three years and the forum in 2029.

AES El Salvador

Through its energy distribution companies (AES CAESS, AES CLESA, AES EEO, and AES DEUSEM), AES El Salvador announced investments of $236 million over the next five years, with $58.3 million allocated for 2024.

The energy company will develop strategic projects to modernize and expand the electricity grid, investing in advanced technologies.

Holcim

In September, the Swiss multinational announced the purchase of Cemex’s operations in Guatemala for $200 million. The deal included a grinding plant near Puerto Quetzal, three ready-mix concrete plants, a maritime terminal, and five land distribution centers.

Bimbo

The world’s largest baking company began constructing a new production plant in El Salvador in April.

The $200 million investment will boost its market presence in Central America. The plant will begin operations in the first half of 2025.

Energuate

The company announced a $71 million investment plan to improve energy distribution quality, network automation, community electrification, and new customer connections.

Grupo Tomza

Through its Tropigas brand, the company invested $65 million in building a Liquefied Petroleum Gas storage facility in Escuintla, Guatemala—the largest of its kind in Latin America.

Grupo Fogel

Japanese company Hoshizaki reportedly paid $28 million in May for a 51% stake in Guatemalan refrigeration equipment manufacturer Grupo Fogel.

SERFINSA

The Salvadoran paytech company announced its expansion into Central America in October, with a $20 million investment plan for the next five years.

The provider of technology and financial processes is entering markets like Nicaragua, Honduras, Panama, Costa Rica, and Guatemala.

Nestlé

The Swiss multinational announced a $5 million investment in a new AI Center in Guatemala to optimize its sales, marketing, and customer service processes. The facility, part of an $85 million five-year investment plan, will be operational by 2025.

Grupo Unicomer

The Salvadoran group reintroduced the RadioShack brand to the U.S. market a year after acquiring its rights. It also opened its 30th Courts store in the Caribbean and launched its fintech EMMA (Easy Mobile Money Access) across several markets.

Anheuser-Busch InBev

The world’s largest beer producer announced plans to establish operations in Panama, open a global procurement office, and initiate a project to replace imported corn starch with local production.

Inversiones CUSCATLAN

This Central American investment group completed two major deals in 2024. The first was acquiring 100% of La Hipotecaria Holding, which operates in Panama. Additionally, it expanded its business in Guatemala by acquiring 100% of Banco Inmobiliario S.A.

Grupo Poma

The Salvadoran business group announced two new hotel projects in Lima, Peru, and plans for additional developments in Panama and El Salvador, including a JW Marriott set to begin construction in 2025.

SISA Seguros

SISA Seguros, majority-owned by Inversiones CUSCATLAN Centroamérica, obtained regulatory approval to acquire up to 90% of Guatemala’s Aseguradora Confío S.A.

San Martín

In August, the bakery chain opened its second store in Dallas, Texas, marking its 73rd location. The chain employs over 4,000 staff members and offers various freshly baked products.

Purdy Motors

The Costa Rican group initiated its transformation into a multinational company as part of its 2030 objectives, driven partly by Toyota Tsusho Corporation acquiring a 25% stake in the company.

Conclusion

The largest investments in Central America in 2024 showcased dynamic growth across diverse sectors, including retail, energy, food production, and construction. Guatemalan companies led the way, with Corporación Multi Inversiones (CMI) acquiring a majority stake in U.S.-based Del Real Foods and Progreso entering the Caribbean market through a $950 million acquisition of Cemex’s Dominican operations. Major players like Walmart Central America, Bimbo, and AES El Salvador announced significant expansion plans. At the same time, Salvadoran firms like Aristos Inmobiliaria and Grupo Poma revealed transformative projects in free trade zones and hospitality. These and other ventures, totaling over $3.575 billion in disclosed investments, highlight a pivotal year for economic development in the region.

Uruguay’s National Institute of Statistics (INE) report highlights how the service sector firmly establishes itself as a cornerstone of economic development. According to the INE’s demographic report, service companies in Uruguay generate 59.23% of registered employment nationwide, showcasing the sector’s consolidation within the labor market.

A Regional Comparison of the Service Sector

The study also revealed that service companies represent 53.96% of all businesses in Uruguay. This aligns with trends in other countries, such as Colombia, where the service sector accounts for 62.7% of companies, Peru at 54.8%, and Ecuador at 51.6%. This data illustrates the pivotal role of services in driving economic activity throughout Latin America.

Information and communication activities are one of the most dynamic subsectors within Uruguay’s services industry. Between 2018 and 2023, the number of companies operating in this area increased by a remarkable 79.77%. This growth underscores the increasing demand for digital services and technological solutions, positioning Uruguay as a competitive player in the digital economy.

The Role of Montevideo and Canelones

The geographical distribution of service companies and their employment impact paints a clear picture of regional economic hubs in Uruguay. Montevideo, the nation’s capital, continues to dominate, with 53.80% of service companies and 65.28% of employment in the sector. This concentration reflects the city’s role as the country’s economic, political, and cultural epicenter.

Canelones, located adjacent to Montevideo, is the second most significant department, hosting 11.62% of service businesses and accounting for 8.36% of employment in the sector. These figures highlight the importance of both regions in fostering the growth of service companies in Uruguay, which continue to attract investment and talent due to their infrastructure, connectivity, and access to a skilled workforce.

The Prominence of Small and Medium Enterprises

Small and medium-sized enterprises (SMEs) are outsized in Uruguay’s service sector. In 2023, micro, small, and medium businesses represented an overwhelming 99.49% of all service companies. In contrast, large enterprises constituted just 0.51%. This trend reflects the broader structure of the Uruguayan economy, which relies heavily on SMEs for employment generation and innovation.

SMEs are instrumental in promoting economic inclusivity by offering opportunities to diverse groups nationwide, especially in rural areas where large-scale enterprises are less prevalent. Their agility and adaptability enable them to cater to niche markets, further strengthening their role in economic development.

Gender Participation in the Sector

The analysis also highlighted notable progress in gender inclusion within the service industry. Women’s participation has increased significantly, with the gender gap narrowing from 0.99% in 2018 to 3.53% in 2023. This shift reflects Uruguay’s broader efforts to promote gender equality and empower women in the workforce.

Policies encouraging diversity and inclusion and the inherent flexibility of service jobs have contributed to this positive trend. The rising number of women-led businesses demonstrates the sector’s potential to drive social progress alongside economic growth.

Exporting Services: A Historic Milestone

Uruguay’s service exports have reached historic levels, totaling $6.88 billion in the last year. This remarkable achievement underlines the sector’s significance as the primary engine of the country’s economic growth. Services now constitute a substantial share of Uruguay’s overall exports, reflecting the global demand for logistics, technology, and financial services expertise.

Large Companies and Their Strategic Role

While SMEs dominate in number, large companies in the service sector play an equally crucial role due to their capacity for scale, investment in advanced technologies, and ability to manage complex operations. These enterprises are vital to Uruguay’s economy as they drive innovation, enhance productivity, and generate high-quality jobs.

The INE report emphasized the essential contributions of sub-sectors such as logistics, finance, and information technology. These industries are indispensable to modern economies, ensuring efficient goods, capital, and data flow. Additionally, healthcare, business services, and recreational activities have emerged as some of the fastest-growing sectors globally, and Uruguay is no exception.

A Look Ahead

Uruguay’s service sector is a pillar of the national economy and a gateway to its integration into global markets. The rapid adoption of technology, focus on sustainability, and promotion of inclusivity are expected to further solidify Uruguay’s reputation as a regional service leader. The continued growth of the sector, supported by strategic policies and investments, will likely provide the foundation for sustained economic prosperity.

Conclusion

Service companies in Uruguay play a pivotal role in the country’s economy, generating 59.23% of registered employment and constituting 53.96% of all businesses nationwide. This aligns with broader Latin American trends, where services are critical to economic activity. Montevideo, the nation’s capital, leads as the primary hub for the sector, housing 53.80% of service companies and contributing to 65.28% of sector employment, followed by Canelones. The sector’s remarkable growth, especially in information and communication activities, positions Uruguay as a competitive player in the digital economy. Small and medium-sized enterprises (SMEs) dominate the landscape, accounting for 99.49% of service companies in Uruguay, driving employment, inclusivity, and innovation. Gender participation in the industry has also improved significantly, reflecting national efforts toward equality. Service exports reached a historic $6.88 billion, underscoring the sector’s role as a primary economic engine. Sub-sectors like logistics, finance, and IT continue to thrive, complemented by healthcare and recreational services. Large companies contribute through innovation and job creation, while SMEs provide adaptability and inclusivity. With a strong emphasis on sustainability, technology adoption, and strategic investments, the service sector is set to maintain its role as a cornerstone of Uruguay’s economic growth and global integration.

Mexico is set to demonstrate its leadership in exports and foreign direct investment (FDI) in 2025, leveraging its strengths in value chains and key strategic sectors. Despite potential headwinds, the nation remains well-positioned to consolidate its role as a vital player in global trade and a magnet for international investment.

Resilience Amid Trade Threats

Sergio Eduardo Contreras, Executive President of the Mexican Business Council for Foreign Trade, Investment, and Technology (Comce), has dismissed concerns that trade threats from the United States will significantly impact Mexico’s export sector or slow its FDI flows. Contreras predicted that the value of Mexican exports in 2025 will exceed $630 billion, reflecting a 4.0% increase compared to 2024 projections. This growth underscores the country’s resilience and ability to navigate global economic challenges effectively.

Looking further ahead, projections for 2026 suggest a 4.5% growth in Mexican exports. This trajectory is primarily driven by Mexico’s deep integration into global value chains, which has consistently bolstered the country’s competitiveness on the international stage.

A Key Partner for the United States

The United States will continue to rely on Mexico as its top trading partner in 2025, marking the third consecutive year of this distinction. Contreras emphasized that despite Donald Trump’s expected return to the U.S. presidency and his history of tariff threats, Mexico’s export performance will remain robust.

“Mexico will continue to be the United States’ primary trading partner. Canada has experienced a significant drop in exports, not due to a tariff war like the one affecting China, but rather from a decline in competitiveness. Meanwhile, Mexico’s exports to the United States have steadily grown, while China’s sales have declined as the U.S. reduces its dependence on the Asian economy,” Contreras explained.

Mexico’s competitive edge in trade with the United States is further evidenced by its $50 billion to $60 billion advantage in exports compared to Canada. This robust trade relationship positions Mexico as a cornerstone of North American economic integration, reinforcing its leadership in exports and FDI.

Strong Foreign Direct Investment Flows

In addition to its export strength, Mexico’s foreign direct investment is projected to reach new heights in the coming years. According to Comce, FDI flows in 2024 are expected to close at $38.411 billion. For 2025, this figure is forecast to surpass $39.320 billion, reflecting sustained investor confidence in the country.

The nearshoring trend—relocating global supply chains closer to end markets—has played a pivotal role in bolstering Mexico’s FDI outlook. Thanks to this shift, FDI inflows could exceed $28 billion over the next two to three years. Contreras highlighted that Mexico’s preparedness to capitalize on nearshoring opportunities will be critical in maintaining its position as a top destination for international investment.

“Mexico is prepared to face global challenges and seize opportunities in nearshoring and foreign trade in 2025, solidifying its position as a key destination for Foreign Direct Investment and a driver of regional economic growth,” Contreras stated.

The Role of Strategic Sectors

Susana Duque, General Director of Comce, underscored the importance of Mexico’s integration into North American manufacturing value chains. Key sectors such as automotive, electronics and medical devices drive economic growth and attract foreign investment. Duque noted that nearshoring has further strengthened these sectors, contributing more to Mexico’s export and investment performance.

“Mexico to lead in exports and FDI in 2025 is not just about the numbers; it’s also about the transformative impact that foreign direct investment has on industries and communities,” Duque remarked. She emphasized that FDI should be evaluated for its volume and ability to drive innovation, enhance productivity, and create high-value jobs across Mexico.

Prioritizing Innovation and Sustainability

Duque highlighted the need for Mexico to focus on emerging industries to sustain its competitive edge. “Industries such as electromobility, renewable energy, and digital technologies should be prioritized to position Mexico as a leader in innovation and sustainability in the region,” she stated. These sectors offer significant growth potential and align with global trends toward greener and more sustainable economic practices.

In addition to fostering innovation, modernizing infrastructure will be essential for maintaining Mexico’s leadership in exports and FDI. Duque called for investments in logistical corridors, industrial parks, and the electrical grid to meet the growing demands of global and regional trade. These improvements will ensure that Mexico remains an attractive destination for international investors and a reliable partner in global supply chains.

Nearshoring’s Transformative Impact

The nearshoring trend continues to reshape Mexico’s economic landscape, creating new opportunities for export growth and investment. By capitalizing on its geographic proximity to the United States and its established manufacturing ecosystem, Mexico is well-positioned to attract companies seeking to relocate operations closer to their primary markets.

Duque emphasized that nearshoring is not just a temporary trend but a long-term shift redefining global trade patterns. “Nearshoring has bolstered Mexico’s integration into value chains and is expected to drive further investment and exports. Mexico to lead in exports and FDI in 2025 will hinge on its ability to adapt to these changes and leverage its competitive advantages,” she explained.

Conclusion: A Promising Future

Mexico’s strong performance in exports and FDI demonstrates its resilience and adaptability to global challenges. With strategic investments in key sectors and infrastructure, the country is poised to maintain its leadership in these areas well into the future.

“Mexico to lead in exports and FDI in 2025 is not just a forecast; it is a testament to the country’s strategic vision and unwavering commitment to economic growth,” Duque concluded. Mexico will continue solidifying its global economic powerhouse position by prioritizing innovation, sustainability, and value chain integration.

In a global scenario where the energy transition is on the agenda of governments and the private sector, Peru plays a key role that it can leverage for its development. “The potential is enormous for this country,” emphasized Issam Abousleiman, the World Bank’s Country Director for Bolivia, Chile, Ecuador, and Peru, during his participation in the 35th CIES Research Seminar, titled “Challenges and Perspectives for Peru and Latin America: Investment, Sustainability, and Social Cohesion.”

He noted that Peru’s economic growth potential is not 2.5%. “For us, it is nearly 6% annually, with additional growth drivers that are not yet utilized. However, necessary reforms are needed in the short, medium, and long term,” he highlighted in his presentation, “Accelerating Growth and Boosting Investments,” at the event organized by the Economic and Social Research Consortium (CIES).

“There are critical sectors for diversification, such as the digital economy, tourism, and mining; there is still much potential in the agricultural sector. These are highly significant growth drivers,” he underscored, emphasizing their relevance to economic growth in Peru.

He also stressed that decentralized growth plays a vital role in the country—a process that needs to be fully implemented, as it is currently incomplete and requires modernization. Proper decentralization could further boost economic growth in Peru by ensuring equitable development across regions.

Projects

Additionally, he highlighted that the mining sector has a pipeline of mining projects representing investments of $50 billion, and Peru can benefit from the global energy transition that demands copper. Abousleiman stated that an internal energy transition in Peru needs to be implemented and will contribute to its economic growth.

“There is so much potential that requires reforms. We hope that now, with the pandemic behind us, the government can focus on the necessary reforms,” he stressed.

Regarding decentralization, he pointed out the need to train regions, work on reforms for their implementation, and generate fiscal self-sufficiency in these regions so that the rest of the country can develop. Addressing these issues is critical for unlocking sustained economic growth in Peru.

A Crucial Agenda

In the panel “Challenges for the Peruvian Economy in 2025 in the Global Context,” Abousleiman stated that “Peru now has a great opportunity” for development. However, it must address a crucial agenda focusing on key areas such as infrastructure, education, competition regulation, productivity, and tax policy to achieve this.

“We will release a new report early next year stating that Peru needs 64 years to reach high-income country status without major reforms. However, with reforms, this timeframe could be reduced to 20 years,” the World Bank economist emphasized.

In this regard, he specified three structural issues that need attention: increasing productivity, reducing persistent territorial disparities, and improving the country’s institutional framework, which has deteriorated over the last 15 years. Tackling these structural issues will be fundamental to sustaining long-term economic growth in Peru.

Projects on Hold

Moreover, he noted that the work carried out by the World Bank, the Inter-American Development Bank (IDB), and the Development Bank of Latin America and the Caribbean (CAF) shows that 40% of public projects in the country remain unfinished.

“This represents a tremendous cost. These projects should accelerate growth but must also boost productivity,” he emphasized.

He stated that the World Bank, in collaboration with the IDB and CAF, is supporting Peru’s Ministry of Economy and Finance (MEF) with recommendations, including public-private partnerships (PPPs), to make the public investment system in Peru more efficient. Such measures are vital to driving economic growth in Peru.

However, he noted that while efforts are being made to improve public investment, private investment remains the most crucial for the country as it accounts for 90% of jobs, 70% of production, and 75% of investment.

“Where will most jobs and growth come from if the private sector does not function well? This is a very important issue for the country,” he stressed.

He added that nearly $60 billion per year is needed to close the infrastructure gap alone, and this will not come from the public sector, which does not have these funds. He also emphasized the critical role of private investment in the economy, emphasizing that strengthening private investment frameworks is key to sustaining economic growth in Peru.

Macroeconomic Fundamentals

For his part, Guillermo Díaz, CAF’s Country Economist for Peru and Chile, highlighted Peru’s economic resilience in facing external shocks, thanks to its strong macroeconomic fundamentals. However, he warned, “These are not set in stone and therefore need to be protected, as they can erode.”

“This was achieved through sound and appropriate monetary and fiscal policies over the past two and a half decades, which allowed for an average annual growth rate of 4.5% over the last 25 years—a track record that very few countries can claim,” he said.

“We must recognize that private investment is the main driver of growth and formal job creation in the country. Peru must restore the investment climate that previously fostered such growth,” Díaz added.

He also emphasized Peru’s opportunities in the energy transition. “There can be no green transition without copper, and we have copper,” he stated. These opportunities underscore the importance of strategic planning for economic growth in Peru.

Foreign Investment

Tomás Lopes-Teixeira, IDB’s representative in Peru, pointed out that in addition to its macroeconomic fundamentals, Peru has opportunities for “external investment shocks” in transportation infrastructure, including ports, integration routes, and the new Jorge Chávez International Airport, which will better connect Peru to the world.

He also highlighted the need to improve the low productivity of micro and small enterprises (SMEs), promote financial inclusion, conserve the Amazon, and strengthen public safety.

Additionally, he underlined the importance of Peru’s critical minerals, such as copper and others, for electric vehicles and lithium batteries. “Peru has an opportunity to integrate into the world as a major leader and hub for the energy transition,” Lopes-Teixeira noted, further linking these developments to the broader context of economic growth in Peru.

Regional Focus

Renowned economist Jeffrey Sachs, Director of the Center for Sustainable Development at Columbia University in the United States, also participated in the 35th CIES Seminar with his presentation, “Facing the Challenges of Sustainable Development in Peru and Latin America.”

Sachs emphasized that Peru’s approach to development should adopt a regional or continental focus. “A basic challenge for Peru, or any country, is that advancing sustainable development requires a regional, even continental, approach,” he said.

He also noted that Mercosur “cannot remain a group of five countries east of the Andes. It must establish stronger Latin American regional cooperation with a future-oriented vision.”

Sachs further stressed that regional cooperation in Latin America should focus on renewable energy sources, such as wind and hydroelectric power while ensuring the conservation of the Amazon.

Meanwhile, Liliana Rojas-Suárez, Senior Researcher and Director of the Latam Initiative at the Center for Global Development, highlighted in her keynote speech that international investors perceive Peru as a country that has managed to control high levels of inflation, providing security and confidence in its monetary policy.

“Despite experiencing hyperinflation in the early 1990s, Peru is now a country where no one doubts its ability to control inflation. This credibility is significant,” Rojas-Suárez stated.

Key Data

Peruvian exports are expected to reach $70.3 billion by the end of 2024, representing an 8.8% increase compared to 2023, driven by mining, agriculture, and fishing, according to the Lima Chamber of Commerce (CCL). Exports totaled $60.2 billion from January to October this year, 14.5% higher than the same period in 2023, according to the Ministry of Foreign Trade and Tourism (Mincetur). This increase is attributed to higher export volumes (6.4%) and improved prices (7.9%), with notable growth in the fishing (26.6%), agricultural (23.3%), and metallic mining (15%) sectors.

In conclusion, the discussions and insights from the 35th CIES Research Seminar highlight Peru’s tremendous economic growth opportunities. With untapped potential across sectors like mining, agriculture, tourism, and the digital economy, combined with critical resources for the global energy transition, Peru is well-positioned to leverage its strengths for sustained development. However, achieving nearly 6% annual growth will require strategic reforms in infrastructure, education, public and private investment efficiency, and regional decentralization. By addressing these challenges and fostering a robust investment climate, Peru can transform its economy, accelerate progress toward high-income status, and cement its role as a leader in Latin America’s sustainable development.

In 2024, Salvadoran and multinational companies maintained their investments in El Salvador. Some were announced to begin in 2025, while others completed their projects for immediate implementation. Salvadoran and multinational companies maintained their investments in El Salvador in 2024, with high expectations for better growth in the coming years. These investments played a crucial role in shaping the Salvadoran economy in 2024, marking a year of achievements and challenges.

Although the country remained the least attractive for foreign investment compared to its regional peers, the announced and completed projects demonstrated the determination of major corporations to continue driving the Salvadoran economy in 2024 and creating jobs. According to data from the Central Reserve Bank, foreign direct investment (FDI) inflows in the third quarter of 2024 were positive, amounting to $225.37 million. However, the cumulative total for the three quarters showed that 2024 was unfavorable for investments. Between January and September 2023, the country received $532.35 million, but during the same period in 2024, this figure dropped to a cumulative $387.44 million.

This decline is primarily due to a $33.6 million outflow of funds reported by the Central Reserve Bank in the second quarter of 2024. Economist Otto Rodríguez noted that although the country has improved its international image, investment has yet to arrive in full force because urgent measures against corruption and clear signals in favor of transparency are still needed. Nonetheless, the projects completed or announced this year underscore ongoing efforts to strengthen the Salvadoran economy in 2024 and beyond.

Below is a list of at least eight investments revealed this year. Some were announced to start in 2025, such as the new real estate developer Sforma, which has already laid the foundation stone for an apartment building involving a $45 million investment. Others were inaugurated this year, although they began in previous years, such as Agrisal, which opened Plaza Mundo Usulután, a new shopping mall in the eastern part of the country.

In 2025, business owners expressed enthusiasm for investing, motivated by more favorable laws and the hope of an economic recovery in the United States. This could also benefit the Salvadoran economy in 2024 as various sectors laid the groundwork for future growth.

New Shopping Mall in the East

Agrisal opened Plaza Mundo in the city of Usulután, a new shopping mall aimed at boosting the economy in the eastern region. According to Eduardo Quiñónez, president of Agrisal, the mall’s construction, which took just over a year, generated between 1,500 and 2,000 jobs. Now that it is operational, it is expected to create another 1,000 jobs for residents. The project represented an investment of $52 million, funded through an investment fund with participation from over 30 investors. In October, Agrisal announced a $30 million investment to construct an apartment complex in Soyapango. This project includes 288 two- and three-bedroom apartments distributed across three nine-story towers and a fourth building for parking spaces.

Increased Production with a Major Investment

Grupo Bimbo announced the construction of a new production plant to strengthen its presence in the Salvadoran market while consolidating its trade ties between Mexico and El Salvador. The plant involves a $200 million investment, with the first phase set to begin operations in the first quarter of 2025. The construction phase is expected to generate 150 jobs, while the fully operational plant is projected to create approximately 650 direct jobs. This project exemplifies how multinational investments have directly contributed to enhancing the Salvadoran economy in 2024 and setting the stage for sustained growth.

Fourth Location in the Country

The U.S.-based company PriceSmart opened its fourth shopping center in Santa Ana with a $20 million investment. This new membership-based shopping center joins 54 other facilities operated by the company in 13 countries worldwide. The investment also led to the hiring of 110 people. Officials from the U.S. Embassy in El Salvador attended the opening of the new location.

Expanded Production Capacity

The Salvadoran mattress company Indufoam invested $5 million to expand its production facilities, aiming to boost production capacity and increase exports. The plant spans 90,000 square meters, but the investment adds another 5,000 square meters. The company plans to invest an additional $2 million next year to expand its distribution center further. Guatemala, Nicaragua, Morocco, and South Africa are key markets for the company. These expansions highlight private-sector contributions to the Salvadoran economy in 2024 and its diversification efforts.

Luxury Hotel Chain Arrives in El Salvador

The luxury chain JW Marriott will open its first hotel in El Salvador through Real Hotel & Resorts, which already operates two similar hotels in Costa Rica and Colombia. The new hotel will be located in the Multiplaza shopping center, with construction set to begin in the second quarter of 2025. Although the investment amount has not yet been disclosed, the infrastructure is expected to enhance commerce and tourism for business and leisure. The hotel, slated for completion in 2028, will feature 186 rooms and a 16-story building designed by the prestigious architecture firm CallisonRTKL.

New Distribution Center

The multinational food and beverage company Nestlé invested $10 million in a new distribution center in Nejapa (San Salvador), expanding its storage capacity and streamlining its logistics operations. This facility is the fourth-largest plant in the region. It will handle over 17,000 tons of products annually, including well-known brands such as Maggi, Nido, La Lechera, Klim, Nescafé, and Nespresso.

Real Estate Offerings in Greater San Salvador

The new developer Sforma launched its real estate investments with the groundbreaking of the Origin apartment building, which will become the tallest building in Antiguo Cuscatlán, in the La Libertad Este district, one of the most valuable areas in Greater San Salvador. The project includes 105 apartments across 24 floors, targeting the upper-middle to high-income segment. The developer has sold 80% of the apartments, with an initial investment of $45 million.

Infrastructure for Services

Telus International El Salvador inaugurated its fourth operations center in El Salvador, capable of accommodating over 3,400 workspaces in response to the growing demand for talent and the company’s regional expansion. The new tower, spanning 19,350 square meters across nine production floors, is located in the Las Cascadas shopping center in Antiguo Cuscatlán and involved a $29.2 million investment. It features 910 parking spaces, eight elevators for 15 passengers, a boardroom on the 16th floor with a 360° view, and terraces on the seventh, tenth, and fourteenth floors.

In 2024, El Salvador saw a mix of significant investments from Salvadoran and multinational companies, some completed and operational, while others are set to begin in 2025. Despite a decline in foreign direct investment compared to the previous year, key projects demonstrated ongoing efforts to boost the Salvadoran economy in 2024 and job creation. Notable investments included Agrisal’s Plaza Mundo Usulután shopping mall and apartment complex, Grupo Bimbo’s new production plant, and PriceSmart’s fourth shopping center in Santa Ana. Indufoam expanded its production capacity, while Nestlé established a new distribution center. Luxury hotel chain JW Marriott announced its entry into El Salvador, and real estate developer Sforma broke ground on the Origin apartment building. Additionally, Telus International opened its fourth operations center to meet regional demand. These projects, totaling hundreds of millions of dollars, highlight opportunities for economic growth despite challenges in attracting foreign capital.