Peru

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Peru has maintained the legal framework adopted by the constitution of 1993, favouring a free market economy designed to promote and attract private investments. Indeed, it is through this framework that Peru has seen almost three decades of uninterrupted economic growth, despite the effects of the global financial crisis of 2008.

 

ETIQUETTE: Given Peru’s rich historical and ethnic heritage, its culture is diverse and varies from region to region. Peruvians are generally polite and friendly, and strong friendships often go a long way in opening doors and securing opportunities in the business world. Standard business attire is the same as in the US or Europe....

 

How widespread is arbitration in the legal system?

 

Peru is governed by a stable legal framework established by the constitution, which was ratified in 1993 and serves as the backbone of the economic model that has sustained the country’s structural reforms over the years. Peru’s principle laws have remained largely the same since the 1990s, although there have been some new regulations...

 

How has recent performance shaped future plans for the hospitality industry?

Aided by easier and cheaper travel, global tourism has experienced two decades of almost uninterrupted growth. According to the World Bank, the number of international departures more than doubled between 1997 and 2017, from 687m to 1.6bn per annum. With the global middle class estimated by the US-based think tank Brookings Institution to be...

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