Despite mainly supported by the public, remarkably even under black and hispanic population, NYC socialists have succeeded in killing the Amazon HQ2 project. Great.
Have written few years ago that it’s time for tech companies to move out of Silicon Valley, as there is no need for such silos anymore, not to speak about the ever-increasing costs of doing business there. However, setting up shop in NYC instead is not a real change nor improvement. Gotta get out of the comfort zone completely.
Today, looking at this HQ2 debacle, my advise is to radically diversify geographically, whereby such advise is not addressing the big ones anymore – Apple, Alphabet, Microsoft, Facebook, Amazon and alikes – but their upcoming challengers.
As the end of Airbus 380 has shown that it does not make sense to copy a market leader strategy, if you want to win. Have a distinct different strategy and start with HQ location:
Doing business in SF, NYC or other US metroplexes has become a struggle on many frontlines.
In tropical Panama nobody would complain about becoming home of a corporate headquarter. Instead, Panama has made special bienvenido rules for them and some have been following already. Getting much more for less is easy to understand, isn’t it?
Latin America, located in the same hemisphere, sharing culture and values, is about to learn a lesson after Chavez’ socialism of the 21st century has ruined former rich and beautiful Venezuela. Won’t happen again anytime soon.
Here’s a ranking based on 2018 results, showing how Panama has succeeded in a decade-long race to catch up and positioned to become #1 in 5 to 8 years.
There are many advantages speaking for a corporate HQ507:
- business environment
- financial stability
- costs of living
- investment opportunities
- Special Economic Zones
The Panama Canal is the backbone of the economy, as well as financial and business services, like ship registry. Tourism is another income source as agriculture is.
If human capital is priority #1 for any hi-tec company to thrive, then Panama is in a perfect position, by itself and being located in the middle of the Americas, with direct flights from/to 80+ cities between San Francisco and Buenos Aires, Santiago de Chile and Toronto.
Young professionals will easily get permanent residency. They’ll enjoy preferrable tax rules and have endless attractive investment opportunities. Imagine to purchase a contemporary 130 m² 2bed/2bath oceanview condo for $200,000.
Having done business in Europe, South East Asia and the Americas, Panama is a perfect choice, all things considered.