Medium-sized businesses help economies and societies to thrive, by providing new jobs as well as new ideas. Latin America’s growing market of over 600 million people and its rapidly developing regional middle classes mean increasing opportunity for both businesses and society. This week, the World Economic Forum’s Community of Global Growth Companies is welcoming new members from among Latin America’s most influential high-growth companies, who are innovators and market shapers.

Today, the Forum announced the Latin American Global Growth Companies honourees for 2014. The 16 selected companies represent the economic dynamism within the region, and highlight the entrepreneurial and innovative spirit that Latin America needs to continue its path to greater prosperity and more equitable societies.

The companies come from a variety of market backgrounds. What brings them together is their ability to exceed industry standards in revenue growth, promote innovative business practices, and provide excellent track records of leadership and corporate global citizenship. Among this year’s honourees, the following companies are present at the World Economic Forum on Latin America in Panama City, Panama:

  • Intellego is one of the fastest-growing IT companies in the region. It works closely with other businesses to help them design and implement strategies and business processes, and manage their people.
  • Beraca develops high-performance technology and solutions for the water treatment, cosmetics, animal nutrition and food & beverage industries. The company has a commitment to ensuring sustainability and well-being of future generations around the world.
  • Grupo Boticario represents the largest franchise network of beauty products in Brazil. It has a strong focus on sustainability, in alignment with the Forum’s values of corporate global citizenship.
  • Agrotop is one of the leading agro-industrial groups in Chile and focuses on the production of seeds, oils, grains and oats. They support local farmers with innovative services and non-traditional crop development.
  • Hoteles City is a Mexican company that has disrupted the national hotel market by focussing on a strategic niche in the hotel industry: the traveling businessperson. Hoteles City is the fastest-growing hotel chain in Mexico and has a strong commitment to the environment.
  • Servientrega is a Colombian Company specialized in the logistics and transports of goods and documents.  Today it operates in the markets of Colombia, Ecuador, Peru and Panama as well as in the US, mobilizing over 180 million deliveries per year.
  • ConConreto is a leading construction company in Colombia, with a strong commitment to the highest sustainability standards. It has been one of the engines in the country’s and region’s push to meet strategic infrastructure needs.

Chiming with the theme of this week’s meeting in Panama “Opening Pathways for Shared Progress”, these companies not only have a local impact on their industries and societies, but also play a major role in the integrated economic prosperity of Latin America.

Author: David Aikman is Managing Director at the World Economic Forum

Image: A woman walks next to a window before a news conference at the Central Bank headquarters in Caracas August 22, 2013. REUTERS/Carlos Garcia Rawlins