Puerto Rico Economic Pulse ©

July 2010: Another Puerto Rico is Possible – Part II

What the post-recession world will look like

The local economy’s transformation will require a renewed understanding of Puerto Rico’s challenges and opportunities as it slowly comes out of the current recession. This issue examines the Island’s economic outlook and new economic trends without any reference to public policy. Emerging consumption and production patterns are thus analyzed without assuming that the government can or will provide the appropriate incentives. New consumption trends are now becoming noticeable and, more importantly, Puerto Rico’s production base is in the midst of a profound transformation. The opening of new export and import markets will continue to provide challenges but, almost unnoticed until recently, will also offer immense business opportunities. The world economy changed radically almost 15 years ago and Puerto Rico was left behind. If anything positive is to come out of the recession, it will be a decisive push towards a definitive embrace of world markets.