Market Research in Honduras

Neighborhoods

Honduras is in Central America between El Salvador and Guatemala. Nicaragua is further to the southeast. Basically, the country has 18 departments, or states. The capital, “Tegucigalpa,” is also a department.

The capital of Honduras is one of the main cities in poverty. Many of the people in rural areas also face extreme poverty. Despite this, the country still has rays of hope. Exports are higher than imports as farming is a significant sector.

There are certain areas where most business transactions occur. Another key point is that, as of 2013, Honduras has developed a new economic zone division. As a matter of fact, under this system, most cities have become self-governing. This system is sound as it can boost revenue yet bad because of the high risks that come along with it. Amalia was the first district to be a free zone. It can conduct its business with some form of self-governance.

Trends

The country has four airports. The most popular one is “Ramon Villeda Morales,” which is not in the capital, but instead, an area called San Pedro Sula. Another of the airports in Honduras is famous for being the second most dangerous in the world. It is common to see people praying on landing.

Spanish is the primary language in Honduras. The diverse mixed pot of people is what makes the country so great. The Copan Mayan Ruin and the Rosalia temple are some of the most common sites. The carved-in stairs and ancient look are one of the best tourist attractions.

Honduras has some of the most exotic animals since its citizens take pride in conserving them. It also has a forest reserve that helps in the protection of rare trees and animals.

Honduras has about 20 islands surrounding it, of which most are on the Caribbean Sea. The best-known one is “Bonacca Cay.” It is the most crowded island in Honduras.

The country has a record of being unsafe as it has been very popular with gangs and theft. Tourists should be careful when traveling to Honduras.

Consumer Base

Their primary source of income is farming. Hondurans grow most of what they eat, so this cuts back on imports of certain foods. Things like machines for factories and fuels are the principal imports.

The country is exporting more while spending less on imports. This turnaround is a great sign of economic growth. Its main trading partners are the US, China, Mexico, and Guatemala.

Key Industries

The country is rich in resources. The primary sector is agriculture, and coffee is the main export. It accounts for 22 percent of export revenue. This sector has provided many jobs for the jobless and has also saved much spending.

Cement, Fishing, Mining, Cigars, and Forestry are the other primary industries. Some of the local products are chemicals, bananas, sugar, coffee, and timber.

Reasons to Grow Your Business in Honduras

Honduras is a great country for investment. The government’s involvement in the economic growth of the country is a definite plus. They have put reforms as a priority to appeal to investors. Having a government that has the country’s best interest at heart is excellent for investors. It helps them to make a profit.

About Market Research in Honduras

Are you looking to invest in Honduras? This article gives you all the information needed to make your decision. We organize Quantitative, Qualitative, and Strategy Research to provide you with more knowledge of Honduras. Such knowledge is vital, and we hope you also will consider investing in Honduras.