PURPOSES OF THE BRAND
Representing Latin America and the Caribbean in a single image is a challenge due to the vast cultural, geographical, and social diversity. However, this diversity offers a unique opportunity to unify the region under a common identity. That’s why CAF has driven the creation of the Regional Brand, a tool that internationally projects what unites Latin Americans and Caribbeans. This brand seeks to strengthen the region’s voice globally, promote investments, boost tourism, and position Latin America and the Caribbean as a region capable of offering solutions to major global challenges.
Objectives
The first is to position Latin America and the Caribbean as a region of solutions to the challenges of climate change. According to the International Union for Conservation of Nature, up to 37% of climate change mitigation needs can be addressed through nature-based solutions, placing Latin America and the Caribbean in a privileged position, with 9.3 million square kilometers (Km²) of forests (one-quarter of the world’s forest cover) and unmatched natural ecosystems and biodiversity.
The second is the region’s agricultural potential and the ability to meet the growing demand for food from a global population while reducing the environmental impact of agricultural activities.
The third objective is to boost tourism, which accounts for 26% of the Caribbean's GDP and 10% of Latin America’s GDP. It represents 42% of total exports in the Caribbean and 10% in Latin America, and provides 35% of employment in the Caribbean and 10% in Latin America. The Regional Brand will also help strengthen the region’s exports and create a more integrated and cohesive economy.
The fourth goal is to foster intraregional trade, one of the region’s major challenges. According to a CAF study, intraregional trade has remained stagnant at around 15% of total exports since the mid-1990s, while in Europe it reaches around 60%, 45% in North America, and 35% in East and Southeast Asia.
The fifth goal is to boost cultural and creative industries. We are 650 million people from 33 countries, with more than 400 ethnic groups and 450 languages, representing significant potential for our global projection.
The sixth goal is to seize the opportunity presented by Latinos around the world. According to the U.S. Census Bureau, in 2022, the Latino population in the U.S. reached 63.7 million people, making it the largest ethnic minority in the country (19.1% of the total population). If Latinos in the U.S. were a country, they would be the fifth largest economy in the world, with a GDP greater than that of the United Kingdom, India, or France.
The seventh goal is to promote impactful initiatives that generate visibility and relevance on the global stage. Some examples include the 2030 Centennial Cup or the Pan American Games. And how exciting it would be to have a World Expo in our region, with the eyes of the world focused on Latin America and the Caribbean.
As we can see, the Regional Brand is a great opportunity. That’s why, in CAF's role as the development bank for the entire region, we are committed to facilitating collaboration and will continue to build partnerships with public and private organizations, as well as civil society, to position Latin America and the Caribbean as a region of progress and global solutions.