Paraguay is an agricultural country and is one of the largest soybean producers in the world. It is this country that is constantly among the world leaders in terms of soy exports. And Paraguayans are really hard workers, even though their country is one of the most backward in South America.
In general, Paraguayans are involved spam data in agriculture, industry and the service sector. The main industry in non-productive spheres is tourism. By the way, around 150,000 tourists visit the country every year, adding almost 200 million dollars to Paraguay's coffers. The country contacts the outside world through Argentina and Brazil.
The industry provides about a quarter of Paraguay's revenue. The basis of this country's industry was the processing of agricultural products, as well as the forestry industry: timber, vegetable oils, cigarettes, beer, and leather processing. Also the production of sugar from sugar cane, vegetables and essential oils, etc. The food, cement and cotton industries are also developed in Paraguay.
\Nowadays, modern technologies are also actively used in the country. By the way, along the eastern border of Paraguay, there is a hydroelectric power station of enormous capacity - Itaipu, which has no equal in the world.
Job market
New jobs in the country began to emerge after international companies received appropriate preferences for conducting their business. Thus, Brazilian companies began to transfer their businesses to the Paraguayan market. Therefore, the creation of new jobs in Paraguay is now directly related to investments in this country.
In Paraguay, there is mostly no competition in many business sectors. Except, of course, those industries that are the most profitable. Furthermore, it will be easier for you to build your business here if you have the right business strategy than in economically developed countries.
In general, the most promising industries in Paraguay are the automobile industry and the hotel business.
And from 2022, the most promising areas of work are commercial engineering/marketing, accounting, construction, among others. You will have a much better chance of finding a job after a proper university education if you want to do business, pharmaceuticals, construction, or commerce in Paraguay.
The highest paying jobs in this country are offered in the banking and finance sectors, as well as insurance. They also earn well in medicine, construction and mechanical engineering, and metallurgy.
Women are advised to become psychologists, nurses, or caregivers, while men are advised to become engineers, builders, architects, etc.
Peculiarities of doing business in Paraguay
If you want to start a business in Paraguay, you should know that the country has a mostly stable economic growth rate. There are also tax benefits for foreign investors: companies can be registered and owned without restrictions. You can even open a bank account and do the same business in the country remotely. Furthermore, if you want to become an employer in this state yourself, you can even open a new business niche here. Globally, GDP growth has been approaching 5% in recent years, which is higher than that of its closest neighbors. At the same time, more and more investors are appearing in the country, which has a positive effect on the job market.
In general, the country's budget is mostly filled with taxes from the service sector, while agriculture and industry are poorly developed. Still, British analysts ranked Paraguay's potential as the highest in South America in 2016-2017. Thus, in ten to twenty years, this country could become the Singapore of America.