French Bakery Breads is considering entering the Latin American market.The manager in charge of assessing foreign markets is surprised to see that the region receives a high level of remittances.What is the implication of remittances to the Latin American market?

Question

Quizplus · Accepted Answer

Remittances refer to money that is sent by foreign workers back to their home countries. In the case of Latin America, remittances are a significant source of income, which leads to an increase in buying power for local residents. This has implications for businesses such as French Bakery Breads, which may see an increase in demand for their products if they enter the Latin American market.

French Bakery Breads Is Considering Entering the Latin American Market