NL Logos 6.3 (794 x 200 px) (1)

Paddington in Peru: an unforgettable adventure

paddington pit

The smash hit Paddington franchise is due to enchant British audiences for a third time this coming autumn, with the iconic spectacled bear set to appear in “Paddington in Peru,” premiering in UK cinemas on the 8th of November. The notorious troublemaking bear, a long-standing symbol of the familiar relationship between Peru and the UK, will sport his infamous blue duffle coat on a trip to the deepest rainforest to find his ancestral roots. PROMPERU, through Film in Peru, was able to assist in making this wonderful project happen, facilitating STUDIOCANAL’s work in the country. The film itself will include shots of Peruvian treasures such as Machu Picchu, whilst seeking to shed some light on marvellous culture, history, and landscapes. Indeed, British audiences will have already found themselves scintillated by the recent teaser trailer showing Britain’s favourite bear in a host of characteristically complicated scenarios. 

For British audiences, marmalade sandwiches, a red cap, and the blue duffle coat evoke memories of a family favourite who has captivated both viewers and readers for over 60 years. It is hardly surprising therefore that the British press have enthusiastically covered the recent teaser trailer which shows acting heavyweights Olivia Colman, Antonio Banderas, and Hugh Bonneville joining the already star studded cast. Notably, The Guardian Newspaper featured a two page article, highlighting how the film will centre on Paddington’s quest in Peru to find his missing aunt. Similarly, popular British tabloids including both The Daily Mirror and The Daily Star also highlighted the fact that the storyline unfolds in Peru’s Amazon rainforest. In addition to print journalism, the film has been mentioned on different British radio stations, including BBC1 and BBC2, alongside features on more than 15 online UK news platforms. The attention that Peru’s cuddly countryman has garnered in the UK is impressive, and it is a fantastic means of exhibiting the wonders of the country, and promoting the flow of British tourists. Given that the British press already seem to adore the Paddington trailer, this effect will no doubt be amplified when the film hits screens in November. Source: STUDIOCANAL, The Guardian, The Daily Mirror, The Daily Star, BBC.

Peru's start-up ecosystem is flourishing

backside-view-of-man-looking-at-office-board

The proliferation of many exciting new startups in the last few years points to the breadth of entrepreneurship in Peru. The country has made particularly impressive strides in science, technology and innovation, having seen successful technology companies appear across the financial, agricultural, and health sectors. This entrepreneurial success is being driven by many factors including Peru’s developing digital maturity. Peru is currently ranked as number two in the World Bank’s Government Tech Maturity Index in Latin America, and this perhaps speaks to the growing willingness of Peruvians to embrace technological innovation. Additionally, favourable government regulation and an openness to foreign investment, have rendered Peru an excellent location for the establishing of new businesses. In fact, the Peruvian Ministry of Production founded the initiative ‘StartUp Peru’ in 2014 with the explicit intention of promoting new enterprises in the country, thus demonstrating the government’s commitment to promoting innovative business. Meanwhile the British government has deployed a finance accelerator programme in the country to stimulate investment in start up initiatives related to combating climate change. 

Notable success stories in the Peruvian startup ecosystem are Netzun, and Doctocliq. Both platforms harness tech solutions, are just a few years old, and appear to be affecting real positive social impact. Netzun is an online learning platform that allows professionals across diverse industries to take educational courses and enhance their career prospects, for a reasonable price and with a flexible timeline. Their platform is making specialised education more accessible to Peruvians and is quickly gaining momentum, with over 900,000 registered users, and having been rated by Forbes as amongst the top 100 most promising start-ups in Latin America. 

Similarly, Doctorcliq has captured the Peruvian market as a platform that connects medical patients with healthcare professionals using an intuitive online triage system, simultaneously permitting doctors to organise and market their private practices. At current, the platform has over 2,500 medical professionals on its books, and has scheduled more than 300,000 appointments. Businesses such as these not only demonstrate Peru’s favourable climate for founders, but they are also a testament to the innovation present. Given the country’s overt openness to foreign investment, hopefully exciting Peruvian startups such as these will attract international investors as they continue to grow. Sources: World Bank, TechRound, Netzun, Doctorcliq, Forbes.   

Infographic June.

British firm UIB holdings invests in Peru

lima skyline

With more than 15 offices across the globe, and commercial partners in over 85 countries, United Insurance Brokers (UIB) is one of the largest, independent, international insurance and reinsurance brokers in the world. Across the company’s portfolio it offers insurance products to industries including Aviation, Aerospace, Energy, Construction, Marine, Specialty Insurance and Treaty Reinsurance. Headquartered in London, this highly successful British company, as part of its global expansion plans, has just acquired two new companies in Peru, offering insurance services to Peruvian industries. The first, South Re, which is focussed directly on the reinsurance market, will be renamed as UIB Corredores de Reaseguros, whilst their second enterprise, offering insurance services directly, will become UIB Corredores de Seguros. Following this landmark move, the CEO of UIB holdings, Tim Church, expressed his excitement at the opportunity “to enhance UIB’s services to the Peruvian market.” He explained that “the combination of local skills and knowledge together with the international reach of the UIB group will offer a powerful capability to a wide range of clients.” 

In the past few months Peru’s appeal as a destination for foreign capital has been evidenced repeatedly. Recently, Citi bank made a strategic investment in the Peruvian foreign exchange FinTech, Rextie, whilst the British investment fund ACTIS, acquired control of Enel’s Peruvian energy generation operations, through one of their subsidiaries, Niagara energy. Certainly, Peru’s business climate is showing itself to be dynamic and attractive to international investors. In the case of UIB holdings, the plethora of industry that exists in Peru is set to make for an interesting portfolio of clients, and the company has already set about sowing strong roots amongst Lima’s business community. For example, the airline LATAM Peru has already expressed its support of UIB’s expansion into Peru as an insurance partner for their operations. The arrival of such a successful company into the Peruvian market is an indication of how Peru can continue to strengthen its bilateral relationship with the UK, by deepening commercial ties, and promoting foreign trade and investment. Sources: Business Empresarial, UIB Holdings, Insurance Journal.

Peruvian gastronomy is once again recognised

maido

Peru is indeed a heavyweight on the global gastronomy circuit. For some years now the country has been regarded as having one of the best cuisines in the world, with some of the most exciting gastronomic innovators across a set of fabulous restaurants. The Andean country’s cuisine is marked by a rich cultural heritage, pronounced Asian influences, and a deeply embedded reverence both for the natural world, and for Peru’s wide variety of indigenous ingredients. It will come as no surprise therefore, that in 2024 Peru has shone once again in the recent 50 Best Restaurants Awards, published annually. Esteemed Chef Virigilio Martínez saw his restaurant, Central, ascend into the prestigious list known as “the best of the best.” This accolade follows Central’s recognition as the definitive best restaurant in the world in 2023, and it is a special commendation only awarded to restaurants that have previously topped the rankings in the annual awards. The rules of the 50 Best Restaurants Awards stipulate that a kitchen may not be awarded the number one spot for two consecutive years, and as a result Central has instead ascended into a type of hall of fame, joining other legendary restaurants that have also been recognised as number one in the past.

A special recognition was also awarded to Peruvian Chef, Mitsuharu Tsumura, owner of the Lima locale, Maido, which currently occupies the position as the 5th best restaurant in the world. Despite Maido’s undeniable success, having featured in every edition of the Best Restaurants list since its creation in 2013, this year’s award was slightly different for Tsumara who received the Estrella Damm Chef’s Choice Award. This prestigious prize is the only award from the annually published list that is voted for by other chefs in the industry; it is designed to recognise chefs who have made “a positive contribution to the global culinary scene” over the past year. Tsumara received this recognition from his peers due to his innovative approach to nikkei cuisine, fusing elements of Peruvian gastronomy with Japanese styles, and he is widely considered to be an international ambassador of Peru’s gastronomy. With such impressive and creative chefs dominating the international scene, it is easy to see why Lima continues to attract food lovers in their droves. Sources: World’s 50 Best Restaurants, RPP.

Updates on the Peruvian Economy

Peru’s GDP in Q1 of 2024 grows from Q1 of 2023 | The statistics office INEI has reported that Peruvian GDP grew by 1.38% in Q1 of 2024 compared to the same period in 2023. The path to full economic recovery remains a work in progress however institutions such as the BCP are forecasting a continued positive growth trend in Q2 of 2024. Sources: INEI, BCP. 

The World Bank raises Peru’s growth projection to 2.9% for 2024 | Growth in Peru is projected to rebound to 2.9% in 2024, then ease to 2.6% in 2025, according to the most recent forecast by the World Bank. This represents an optimistic hike in forecasts in light of the World Bank’s previous estimations placing growth in 2024 at 2.5%. Source: The World Bank.