Last time I came here, back in 2006, this place was a dump. If someone asked me to describe it, the words “ugly” and “dirty” would certainly come to mind.
Although I knew it was a third world country, I was still surprised by the level of poverty in some parts of Lima, the capital of Peru.
I was not expecting to see huge piles of trash accumulating on the streets. In other parts of the country, I couldn’t walk five minutes without being stopped by a beggar.
After six years, I’m back in Lima visiting my wife’s family. Although I haven’t seen piles of trash like the last time, the streets remain pretty dirty. My impression is that not much has changed … the signs of poverty are everywhere.
But the truth is, Peru is going through a deep transformation. The kind of change Brazil went through in the 1990s, before the economic boom. And these changes present a lot of opportunities for us as investors … especially if we get in early.
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