National Chamber

The category most affected by the suspension of investment has been in the construction sector (also affected by high rates of interest). In the consultation about the factors that have determined the non-realization of such investments, the fall in demand appears as one of the main factors that have led to the suspension of investment projects. One of the components of the same, private consumption, is feeling the impact of the crisis with force. Proof of this, sales of trade retailer in the metropolitan area of the Chilean capital fell by 9.0% in the month of December 2008 compared to same month of the previous year, the worst performance in 10 years, said on Monday the National Chamber of Commerce (CNC). One of the sectors that has shown a great solidity in the midst of the crisis has been the banking sector Chilean product of a strict regulation was kept apart from taking excessive risk through toxic assets.

In the opinion of the President of the Central Bank of Chile, Jose De Gregorio: The financial sector in Chile is very solid and has undoubtedly been very well prepared to absorb the financial crisis. But that strength has shown in his time not translates into a great capacity for generation of credit by banks that have increased the financial cost and requirements to make loans, which does more than deepen the slowdown of the economy. In relation to this, the Minister of finance, Andres Velasco said: is a key financial sector to do its part to attenuate these effects; for the financial sector to play a mitigating role and multiplier not of these external shocks. Goals for 2009 of the Chilean Government are becoming increasingly clear: avoid a sudden slowdown in economic growth, encourage the realization of investment projects and stimulating the financial system so that it generates the credit needed to sustain domestic demand (consumption more investment). Chile has very good condition macroeconomic for investors to develop their projects, and this is a very important plus which has.

Although this crisis is hitting most of the productive sectors in the country, one of the sectors which seems to be both suffering the impact of the crisis is not the tourism sector. It is that during so far in the month of January this year have entered Chile 312,000 foreigners to vacation in the country. The number of foreign tourists that have been entered for this month is, according to figures of the Chilean police, 8% higher compared to the same month of 2008 and the end of the summer period it is estimated that more than 750,000 foreign tourists have enjoyed their holidays in Chile. While it is true that the implementation of the Dakar rally has had its positive impact on tourism in Chile, the sector is showing a great potential of development expected by be tapped.