Javier Milei Named Most Influential Leader for 2024 by Chilean Business Leaders

The Economic Confidence Index for December, produced by Deloitte and Cadem, reveals that 46% of Chilean business leaders view Argentine President Javier Milei as the most influential figure for 2024. This statistic underscores his growing impact on regional politics.

As the year concludes, analysts assess key events and personalities that shaped the landscape. Milei’s leadership resonates with entrepreneurs, placing him ahead of Donald Trump, the expected next U.S. president, and former Chilean President Sebastián Piñera.

The survey indicates that half of the panel considers Piñera’s death in February as the year’s most significant event. They also highlighted concerns about crime and organized crime, reflecting pressing issues in society.

Business leaders from firms like AFP Habitat and Santander noted that a projected GDP growth of 2.3% stands out as a positive indicator for Chile’s economy. They express cautious optimism about similar growth expectations for 2025.

The survey contrasts business perspectives with public opinion. While executives focus on economic implications from figures like Milei and Trump, the public prioritizes crime-related issues. Gina Ocqueteau, director of SQM and Imagen País, pointed out these differing priorities.

Hernán Cheyre, president of the CIES-UDD council, remarked that business leaders pay close attention to individuals whose actions could significantly shape Chile’s future. He noted that Evelyn Matthei received a favorable score of 5.4 out of 7 from executives.

Economic Outlook for 2025

Looking forward to 2025, over half of the business panel expressed concerns about stagnant growth. Projections suggest GDP expansion of around 2%, while organized crime remains a top concern alongside trade tensions between the U.S. and China.

More than half of entrepreneurs anticipate worsening conditions regarding crime, inequality, and political polarization. Only 8% believe that 2025 will improve Chile‘s economic situation.

Roberto Izikson, general manager of Cadem, emphasized that business leaders prioritize legal certainty and security when making investment decisions. He indicated that ongoing uncertainties regarding reforms contribute to a persistent sense of pessimism in the sector.

Christian Durán, CEO of Deloitte, added that this pessimism arises not only from immediate political uncertainties but also from long-standing issues that have stymied progress in Chile. Understanding these dynamics is crucial for investors and policymakers as they navigate the evolving economic landscape.