Izabal, Zacapa, San Marcos and Escuintla are four departments considered as areas of opportunity for the attraction of foreign investmentaccording to the Ministry of Economy (Mineco). This is because, according to this portfolio, they have important population concentrations, as well as Urban and Services Development such as Energy, Transportation and Training Centers.
In April 2025, the Center for Strategic and International Studies (CSIS) published a study entitled “Assessing Guatemala As a Nearshoring Destination”, In which the country stands out as a destination with potential for foreign investment, due to its proximity to the large markets of the United States, a phenomenon commonly known as Nearshoring.
According to the information provided by the Mineco, In the southern corridor, the Atlantic coast and the border with Mexico has observed an organic development of the industrial real estate offer, as a result of the proximity to ports and borders with other countries. Jorge Benavides, an associated researcher in Fundesa, argued that, in order for an department to be considered a direct foreign investment destination, Conditions must be taken into accountor the amount of population, the availability of human talent, access to basic services, the level of urbanization and a sufficient purchase capacity.
The Bank of Guatemala estimates that the country will reach US $ 1,815 million in investments during 2025, the Mineco expressed. On the other hand, the study presented by the CSIS stressed that Guatemala has one of the largest economies in Central America. “More than 200 American firms and other countries have active investments in Guatemala”, Mentioned the study.
Departments with opportunity
“The departments of Zacapa, Escuintla and Izabal are considered as strategic logistics centers in the National Competitiveness Policy,” said Jorge Benavides, who explained that this is due to both the regional nodes of Zacapa and the port vocation of Escuintla and Izabal.
According to Benavides, in reference to Local Competitiveness Index 2024Escuintla occupies position three; Zacapa, the four; Izabal, the seven; and San Marcos, the 17th position. In addition, these departments present the following characteristics:
- Escuintla: During the measurement executed in 2024, the department had a population of 834 thousand 26 people, a GDP per capita of US $ 10 thousand 861 and a level of urbanization of 61.44%, According to 2018 data.
- Zacapa: In 2024, a population of 278 thousand 581 inhabitants, a GDP per capita of US $ 7,133 and an urbanization of 44.51% in 2018.
- Izabal: During the same year, he had a population of 463 thousand 785 people, a GDP per capita of US $ 6,539 and an urbanization of 41.13%, based on 2018 data.
- San Marcos: This department, in 2024, had a population of 1 million 239 thousand 504 people, a GDP per capita of US $ 4,681 and a urbanization level of 25.61% registered in 2018.
Benavides explained that, due to these conditions, the ideal departments to attract foreign investment are Escuintla, first, followed by Zacapa and Izabal. “The case of San Marcos is interesting, because being border with Mexico makes it attractive, as well as the size of the population and its territorial extension,” he said.
Regarding this dynamic, Abraham Rivera, municipal mayor of Escuintla, said that, since the commune, incentives have been promoted to attract investment to the department. According to the mayor, the Private Construction Regulations were modernized “to be able to generate clear rules and long term, so that they – the investors – feel comfortable investing in the municipality.”
Rivera mentioned that, currently, Certain developers are granted in force of up to 10 years, while before they were granted for only two years. He also explained that for the developments of more than 200 hectares it is possible to authorize partial development plans. “It means that, although the investor is not going to make all the investment in a short term, the investor has rules that will not change in a term of 50 years,” he said.
What kind of companies attract?
According to the study, Guatemala can become a HUB Regional manufacturing for various products, among which are pharmacists, medical equipment, toys and electronic devices.
To capitalize on the opportunities of NearshoringThe report stressed that Guatemala must perform an analysis by sector and identify those industries in which it has a greater competitive advantage. Among the sectors in which, according to the study, Guatemala should focus, the following are:
- Textiles: The country has more than 500 companies in operation. The study added that Guatemala already has a solid position in this sector.
- Information and technology: by the end of 2024, a study by ECDB, a company of analysis of electronic commerce data, predicted that the e-commerce would reach US $ 381 million, with an annual growth of 9.7% until 2028. According to the study, this would open more opportunities in the sectors of Fintechelectronic commerce and digital services.
- Pharmacists: In 2022, the study reported that the industry exported around US $ 275 million in pharmaceutical products to Central America, Mexico and South America. The report emphasized that the sector generates 70 thousand jobs in the country.
- Sector BPO: This sector, according to the study, generates approximately 192,500 direct jobs in Guatemala. The report identified that this sector is valued at US $ 700 million, and that companies can save up to 70% in labor costs when operating in the country.
- Autopartes: Thanks to its proximity to Mexico, the study explained that Guatemala is a conducive place for the development of this sector. Yazaki, an Autopartes company, decided to settle in San Marcos, with an investment of US $ 10 million.
According to data shared by the Mineco, the short -term approach to foreign investment is aimed at the sectors of processed foods, non -alcoholic, chemical, pharmaceutical, costumes and textile, costumes, software and Information and Communication Technologies (ICT)as well as business services, contact centers and BPO. In the medium term, sectors are considered as Autopartes, Tourism and Health Services; Long term, the medical team industry and information technologies for advanced manufacturing are identified.
“Proguatemala manages an active portfolio that represents an investment potential of US $ 1,648.5 million and a generation projection of 10 thousand 776 direct and indirect jobs, in sectors such as food manufacturing, electrical-electronic, costumes and textile, services and energy,” said the Mineco.
Rivera said that Escuintla is at a strategic geographical point, due to its proximity to one of the main ports of the country, with the capital and with the borders of Mexico and El Salvador. All these elements, he said, are essential for the development of the Nearshoring.
High logistics costs
According to the study of the Center for Strategic and International Studies (CSIS), among the main challenges that Guatemala faces the infrastructure. “Guatemala has the highest logistics costs throughout Central America, in addition to an important deficit in terms of quality,” said the study.
The report mentioned that of the 17,440 kilometers of existing road network in the country, only 7,420 are paved, while 9,440 are dirt. Currently, Guatemala occupies the 134th of 141 countries in the ranking of road connectivity.
In the case of San Marcos, Benavides said that the department faces challenges in urbanization, revenue generation and basic connectivity conditions. For his part, Abraham Rivera confirmed that the improvement of communication channels will be promoted, both towards the port and to the borders.
Benavides said that, from the perspective of investors, there are five basic conditions that currently represent limitations in the departments. These are:
- Form a logistics corridor with access to production and marketing points.
- Investment in infrastructure. “For perishable products, moving the load at less than 40 km/h implies that the farthest can be reached in one day is San Salvador,” Benavides explained.
- Human talent trained enough to meet new investments in the country.
- Agile and technified access to public services.
- Guarantees for investment and legal certainty for investors.
On the other hand, the contact and subcontracting centers sector of business processes (BPOin English) also presents deficiencies. In aspects related to education and skills, Quality remains low. The global competitiveness index placed Guatemala in 104th in 134 countries evaluated. “One of the significant barriers in the BPO sector is the lack of bilingual personnel,” says the study, which explained that, in the country, most only have basic skills.