Barbados has escaped the list of a global security assessment firm, which identifies the most dangerous places in the world to do business. The latest 2014 Latin America Security Index cited Haiti as the only country in the Caribbean that is considered unsafe to conduct business.
Stating that it was more dangerous to do business in Latin America than in the Caribbean, FTI Consulting Inc. said Venezuela, Honduras, Guatemala and Mexico were the most dangerous places for companies and executives.
“By contrast, only Haiti in the Caribbean made the list of most dangerous nations that were ranked from five to two, with five being the most unsafe,” the report says.
“Public insecurity has a corrosive effect on the region’s competitiveness in the fight to attract investment dollars,” it adds.
The Latin America Security Index said that organised crime and extreme violence surrounding the activities of drug cartels and the movement of drugs from production to consumer markets continues to be a major source of public insecurity in parts of Central America and Mexico.
The Index notes that social and political unrest has become a factor for some more troubled economies, such as Venezuela. Argentina, Paraguay, Peru, Ecuador, Panama and the Dominican Republic that were ranked at three.
Costa Rica, Chile and Uruguay remain the safest places, according to the report with a ranking of two.
Five of the most dangerous cities in the world are in Mexico, while 40 of the 50 most violent cities are in Latin America.
FTI Consulting Inc., has been issuing the annual report since 2007 with the objective of minimizing potential risks related to security matters in the region.