Why this emerging region has room to grow
Disruptive innovation is unequivocally a catalyst for inclusive growth . By making a product or service more accessible, disruptive innovation transforms markets and allows for a more equitable allocation of resources. This disruptive force has the power to displace established competitors and redefine an industry. Oftentimes, it brings about powerful social and economic changes by integrating the informal economy, the part of the population that has sometimes been ignored. Latin America is about to experience that market disruption, in my opinion. Consider the region's young population, expanding middle class, fast adoption of technology and relatively weak market competition-conditions are ripe for change. If Latin America takes more steps to encourage innovation, it could be in the driver's rather than the passenger's seat as things change. More inclusive growth-and ultimately stronger economies-could be on the horizon.
The wheels are already turningeMarketer Statista
But more climbs aheadMore financial inclusion. World Bank's
Innovation enhances inclusion, inclusion encourages innovationArmando Senra, BlackRock Head of the Latin America & Iberia Region, wrote this post for The Blog . A version of this post first appeared on the World Economic Forum's Blog .