Business For Sale Puerto Rico | Business For Sale Listings
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Get to Know About Puerto Rico
Puerto Rico is the Caribbean Island of the West Indies affiliated with the United States. It is the easternmost island of the Greater Antilles chain sitting approximately 80km east of the Dominican Republic and 65km west of the Virgin Islands and 1,600km southeast of Florida, United States. The capital city is in San Juan.
The modern people of Puerto Rico are a fusion of three races that is the Tainos (indigenous group), the Spaniards and the Africans. Puerto Rico’s population is estimated at around 3.6 million inhabitants. The official language is English and Spanish.
Puerto Rico has been undergoing some decades of economic austerity measures and the aftermath of Hurricane Maria in 2017. The austerities of the economy are associated with decades of mismanagement, bad fiscal habits, and recession. Doing business in Puerto Rico is in the perilous state following the unresolved issues during the restructuring period. The nation’s inability to meet its debt-servicing obligations came from excessive borrowing leading to among the highest per capita debt compared to 50 states’ average of $1,473. Now the political crisis is looming on the horizon, along with poor economic performance fuelling extensive public displeasure across the island. Until the point where the underlying structural issues are resolved, doing business in Puerto will be difficult for foreign direct investment. From a nation whose main economic driver is primarily on pharmaceuticals, textiles, electronics, and petrochemicals, much needs to be done to raise investor confidence.