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Learn Your World - Peru

To support your global practice, ACC Docket offers country-specific fun facts from your peers who've been there — literally.

Economy

GDP (PPP) US$424.4 billion (2017 estimate)


Population

32,162,184 (2018 estimate)


Corruption

According to Transparency International’s 2017 Corruption Perception Index, Peru is the 96th “cleanest” (i.e., least corrupt) out of the 180 countries surveyed.


Additional resources

Official Peru Tourism Guide

Deloitte’s 2018 Peru Highlights

P eru, once the center of one of the largest empires in the Americas, the Incan empire, is a country located in on the western side of South America. Lima, its capital city, is located on the shores of the Pacific Ocean and is the most important economic center of the country. Its historic center maintains an exquisite colonial architecture, a product of being a colony of the kingdom of Spain for nearly 300 years.

For more than a decade, Peru has been known as one of the countries with the greatest economic dynamism in Latin America. Lima’s convention center has excellent infrastructure and many hotels can serve as an operations center for executives or investors who visit Peru.

Peruvians are very hospitable and friendly. They usually greet you with a handshake, but occasionally with a kiss on the cheek. Personal relationships are valued when pursuing a business relationship.

However, protocol and formality are important in the beginning and especially when you visit a judicial authority. In that case, you will hear people use the word “Doctor” before one’s name. The exchange of personal cards is part of the protocol. Attire for a business meeting used to be formal, but now it is not necessary to wear a tie.

In Lima, traffic is a problem, so try to anticipate it. If you are going to be more than 20 minutes late to your meeting, call to say you are on the way.

Peru is considered a multicultural country. Its varied cuisine is the best reflection of this diversity, having been named the best culinary destination in the world by World Travel Awards for six consecutive years (2012 to 2017).

Unsurprisingly, many deals are consummated over a meal. During the meal, various topics are discussed, but save the business talk for after the meal. If you close the deal and you want to toast, please do not forget to ask for a “pisco sour” — a traditional Peruvian drink prepared with the national liquor known as pisco, distilled from grapes produced in Pisco Valley, which is south of Lima.

About the Author

Linda Anton is the regional legal chief of Luxottica Retail South America.