According to the Spanish language magazine, Lima made the move from 27th (last year’s ranking) to 15th thanks to the growth registered in the Peruvian economy and city’s status as the hub of Peru’s economy.
The magazine ranked Miami, Florida (United States) and Santiago, Chile as the top two cities to conduct business activities in.
Both cities rank at the top of the list thanks to their competitiveness, macroeconomic stability, telecommunication infrastructure, brand presence, quality of life, and security and safety.
Meanwhile Monterrey, Mexico and Sao Paulo, Brazil slipped out of the top spots due to problems with safety and security and are now ranked third and fourth respectively.
Buenos Aires, Argentina, Queretaro, Mexico, and Curitiba, Brazil round out the top seven spots on the list.
America Economia based their list on information from the International Monetary Fund (IMF), the World Bank, each country’s central bank, statistical institutes, government websites, and on a survey conducted on 1,700 executives from different countries in the region.