Guatemala is the strongest economy in Central America and occupies a strategic geographical location. Mexico is to the north, Central American nations to the south open the gateway to South America, while coastlines on the Pacific and Caribbean open up global sea lanes.
Although agriculture has become a diminishing sector of Guatemala’s economy, it is still strongly reflected in its exports of bananas, coffee, raw sugar and palm oil. In 2020, Guatemala was the largest exporter of nutmeg globally. The manufacturing sector focuses on textiles, furniture, rubber processing, pharmaceuticals and chemicals, sugar, coffee and processed foods.
Each new market brings new challenges, and these can be worked through efficiently and cost-effectively with the support of an international Professional Employer Organisation (PEO) such as Bradford Jacobs, especially through our Employer of Record (EOR) framework.