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With the fastest growing car fleet in the world, Latin America has reason to accelerate the transition to electric vehicles. Costa Rica, with its strong commitment to tackling climate change, is positioning itself to vastly expand EV use in the next five years.
Addressing Latin America’s transportation challenges requires an integrated approach that includes stemming the growth in demand for private vehicles through the improvement of public transportation systems and non-motorized forms of transport; raising the levels of fuel efficiency and fuel quality; and diversifying fuel sources.
Energy continues to be a bright spot in the US-Latin America relationship and new developments, like an uptick in US LNG exports, offer opportunities to increase energy security and cooperation across the Western Hemisphere.
Firms across Latin America are complaining about the difficulties of recruiting workers with the technical skills their businesses demand. Lack of adequate skills is becoming a bottleneck for growth in technologically complex industries, harming government efforts to increase investment in strategic sectors of the economy. In Mexico, the energy reform creates opportunities to generate new jobs and educate and train workers in specialized skillsets, but the country will also face challenges in meeting additional demand for skilled labor.
