Business analysis firm Ernst & Young has released its 2010 Globalization Index which ranks Chile as Latin America’s most globalized nation.
The Index, part of a wider report titled “Winning in a polycentric world,” took into account 20 different factors, roughly grouped into five categories: openness to trade, capital movements, exchange of technology and ideas, labor movements, and cultural integration.
Information was assembled in part by gathering the perspectives of 520 business executives from the nations measured in the Index – the world’s 60 largest nations by GDP.
The Index then ranks the flat globalization score relative to the nation’s GDP so that the index “reflects the degree to which the global integration of a country is observable or experienced from within that country,” says Ernst & Young’s report.
Within the five broad categories measured, Chile scored lowest in exchange and technology and highest in capital movements, scoring higher than countries like Singapore, Denmark and Sweden, which ranked third, fourth and seventh in the overall rankings respectively.
Chile’s largest growth within a category was cultural integration, which measures the openness of national culture to foreign influence. This growth is clearly observable in Chile today as its popular music becomes more clearly inflected with international styles, and as international events like Lollapalooza bring global acts to an increasingly outward-looking Chilean public.
Overall, Chile ranked directly behind the United States as 29 on the list of 60. The other Latin American nations ranked in the Index were Mexico (36), Colombia (40), Peru (41), Brazil (46), Ecuador (48), and Argentina (49).