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Visa predicts e-commerce in Latin America to surpass $16 billion this year

According to a new study by Visa Inc. “B2C Electronic Commerce in Latin America and the Caribbean: Beating All Odds.”, retail e-commerce in Latin America, including travel and tourism, rose to nearly $11 billion in 2007, up from about $5 billion in 2005 and $7.78 billion in 2006, and is expected to surpass $16 billion this year and reach nearly $30 billion by 2010.

Sales figures for leading Latin American markets, with sales in millions of dollars for 2007, 2006 and the percent change:

Country
20072006%
Brazil4,8993,54138%
Mexico1,37786859%
Venezuela82149068%
Caribbean (except Puerto Rico)81858545%
Argentina73961919%
Chile68747246%
Central America49936039%
Puerto Rico44538416%
Peru21814550%
Columbia20117515%
Others20316523%

Following are the categories cited by consumers, with the percentage of consumers saying they shop each category:

Books, music, movies21.4%
Tourism and travel16.9%
Electronics13.9%
Software12.3%
Appliances9.1%
Services7.7%
Flowers, gifts6.7%
Food4.3%
Games3.1%
Spare parts2.8%
Furniture1.8%

Source: Internet Retailer

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