Week 22, 2024 - Latin America

The creative economy, encompassing industries such as arts, culture, design, and media and also referred to as the "orange economy" in Latin America, has gained significant recognition as a driver of economic growth and diversification in the region. Here are the main insights on the current state and trends. Economic Impact...
Published on
June 3, 2024

“No one else holds the vision for my life but me” - America Ferrera (Honduran-American actress, director and producer)


May 30, End Of Day


Orange Economy

The creative economy, encompassing industries such as arts, culture, design, and media and also referred to as the "orange economy" in Latin America, has gained significant recognition as a driver of economic growth and diversification in the region. Here are the main insights on the current state and trends:

Current State:

  1. Economic Impact: The creative economy is a significant contributor to Latin America's GDP.  It generates $124 billion in revenue, or 2.2% of the region's GDP, and employs 1.9 million people. For example, the creative sector in Buenos Aires is representing more than 8.6% of the city's GDP and 9.1% of its workforce.
  2. Employment: The creative economy provides a substantial number of jobs, particularly for youth and women, with the United Nations Development Programme noting that creative industries favor these demographics.
  3. Regional Focus: Countries like Argentina, Brazil, Colombia, and Mexico have historically dominated the creative industries, but other countries such as Chile are now expanding their creative products.


  1. Digital Transformation: The creative economy is well-suited to adapt to market changes, leveraging social media and online platforms to expand its reach and offerings.
  2. Prioritization: The creative economy is expected to continue growing and becoming a priority for economic development in Latin America, with initiatives like MERCOSUR Cultural aiming to strengthen creative economies across the region.
  3. Local Content Development by Streaming Giants: HBO Max and Netflix are intensifying their focus on local content in Latin America, planning to produce dozens of region-specific shows and movies. This strategy enhances their market presence and supports local creative talent, fostering a richer cultural landscape and further driving the growth of the orange economy.

Overall, the creative economy in Latin America is a dynamic sector with significant potential for growth, diversification, and economic development. Its adaptability, inclusivity, and government support make it an essential component of the region's economic strategy.

Fundraising picks of the week

Welaw: Welaw simplifies legal processes by providing a digital platform for creating and signing contracts. Utilizing AI and blockchain technology, it offers secure, fast, and user-friendly services for generating legal documents without intermediaries. Dive deeper into the case here.

Adelántalo: Adelántalo is revolutionizing the logistics industry in LatAm by providing immediate financial liquidity to underserved truckers. Their innovative platform offers same-day payments and embedded factoring, ensuring truckers get paid after unloading. Dive deeper into the case here.

OGA Soluciones: OGA Soluciones is transforming home maintenance in LatAm with a comprehensive platform offering on-demand and subscription-based services, from plumbing and electrical work to gardening and cleaning. OGA has served over 75 clients with a 22% customer retention rate. Dive deeper into the case here.

Interested in Latin American startups? Subscribe here to get startups’ monthly progress updates in the verticals that interest you the most.

Dive deeper into other fundraising firms in LatAm here.


Mexico: Presidential candidates ended their campaigns on Wednesday, ahead of Sunday’s election. Claudia Sheinbaum, likely to become Mexico's first woman president, closed her campaign in Mexico City, vowing to continue Lopez Obrador's legacy. Opponent Xochitl Galvez, trailing by 17 points, promises to fight corruption and violence. The campaign season has been marked by violence. Sunday's election will also decide lawmakers, state governors, and local officials.

Latin America: The Inter-American Court of Human Rights is holding a final hearing in Brazil on a landmark climate change case, part of a global wave of climate litigation. The court's advisory opinion, expected by year-end, could influence future cases by establishing governments' obligations to combat climate change. This follows recent international rulings on climate responsibilities. The court's decision could prompt new lawsuits and compel governments in its jurisdiction to align their laws with the ruling or face legal action, significantly impacting climate policy in Latin America.

Guyana: President Irfaan Ali welcomes Chevron's bid to join the $150 billion ExxonMobil-led offshore oil project. Chevron's $53 billion offer for Hess seeks a stake in the lucrative Stabroek Block. Ali noted concerns about Exxon increasing its stake, raising competition issues. The upcoming vote by Hess shareholders is expected to be close, dividing investors and advisers. Despite criticism of the favorable terms for Exxon, Ali emphasized the importance of honoring the contract.


Check our recently published insights here. Recent post:

🌍 Climate Tech Innovations Across Latin America

Latin America is addressing its environmental challenges through targeted climate tech innovations. Nations are deploying a variety of technologies to promote sustainability and reduce the ecological footprint.

Highlighted Innovations:

🍃 Carbon Capture and Storage (CCS): Exploring efficient and safe ways to capture and store carbon, with an eye on sustainable development impacts.

🔋 Green Hydrogen: Advancing electrolysis techniques to scale up clean hydrogen production for energy, transportation, and industry.

⚡️ Advanced Energy Storage: Enhancing grid stability with cutting-edge storage solutions like flow and solid-state batteries.

🌾 Regenerative Agriculture: Shifting agricultural practices to restore soil health, enhance biodiversity, and capture carbon.

🏗️ Climate Resilient Infrastructure: Designing infrastructure to withstand climatic changes, integrating predictive modeling and nature-based solutions.

These initiatives are part of a broader effort to harness technology for environmental resilience across the region.

🔍 Read more here.