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Although Austria mainly trades with member countries of the European Union, Argentina occupies fourth place in Austrian consumer markets in Latin America.

After more than 20 years at the helm of IBC, as of 2024, Hasenclever hand down the direction of the international business centre to Fernando Fucci, Managing Partner of Grant Thornton Argentina and current Director of the IBC.

The challenges of navigating the global economy have been highlighted by a record number of mid-market business leaders expecting an increase in profitability coinciding with a drop in optimism.

The latest data from the International Business Report (IBR), Grant Thornton’s global survey of mid-market companies, shows that business leaders plan to increase investment over the next 12 months.

This year marks the 200th anniversary since the establishment of the Embassy of the United States of America in Argentina. This milestone marked the beginning of diplomatic relations between the countries based on shared interests. During these 200 years, the northern country became one of Argentina's largest trading partners.

Optimism among global mid-market business leaders rose to 67% in the first half of this year and they are markedly more optimistic about their prospects.

As the year has progressed, business leaders have grown increasingly confident about their prospects. According to data from the latest International Business Report (IBR), Grant Thornton’s global survey of mid-market companies, optimism among business leaders has risen during 2023.

The Grant Thornton International Business Report (IBR) is the world's leading survey of middle-market companies. It was first launched in 1992 in nine European countries, and now interviews around 10,000 senior executives in more than 140 economies each year, providing insights into organizational health and issues affecting both private and listed companies.

Argentina has had a commercial relationship with the Swiss country for more than 90 years. In the last 17 years with a favourable trade balance due to the export of gold for non-monetary use.

Brazil, the largest South American market, continues to be of essential importance in our country's international business. Currently, Argentina has a program to reduce logistics costs for exports that promises reduced rates on a variety of services.

The drought caused by the “La Niña” meteorological phenomenon led, at the beginning of the year, to the Provincial and National Governments declaring a state of emergency and/or agricultural disaster in various regions of our country. As conditions did not improve, the tax benefits provided by the Agricultural Emergency Law No. 26,509 were extended for 8 months.

Finally, the fourth key insight from the data looks at how business leaders are working to increase productivity. Identifying the areas for investment that will be most effective for bringing about growth and allowing them to stay one step ahead of their competitors.

In order to respond to these threats effectively, firms will need the right teams in place but, as our third key insight demonstrates, hiring and retaining the right talent remains a challenge amid a widescale skills shortage and with inflation adding to firms’ labour costs.

The second area of key insight identifies how this adaptability allows leaders to be constantly looking for opportunities, even as they are faced by some very real threats. The research shows that prime among the issues weighing on their minds are economic uncertainty, inflation and the risk of cyberattack, but they will also be only too aware that current economic turbulence may create other threats.

Entrepreneurial spirit maintains optimism as firms look past slowdown and plan for growth. Business leaders across the globe began this year with a sense of caution. According to data from the International Business Report (IBR), Grant Thornton’s global survey of mid market companies, optimism among business leaders had fallen to 59%, down from a recent high of 70% at the end of 2021.

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