Walmart is set to invest around $700 million in Guatemala over the next five years, the company's Central America head, Cristina Ronski, announced on Wednesday.
Walmart Investments in Guatemala and Costa Rica
According to Reuters, the announcement was made during a ceremony for a new store in Guatemala. It also follows a recent announcement of a $600 million investment in Costa Rica over the next five years during the groundbreaking of a new distribution center in the country.
Walmex, known as Walmart's Mexico and Central America division, reported strong performance in the region. In the first quarter, it reported double-digit same-store sales growth in Guatemala, Nicaragua, and Honduras. In Costa Rica, it recorded low- to mid-single-digit growth in the same period.
International Expansion of Walmart
The planned investment in Guatemala is expected to generate numerous job opportunities and contribute to local economic development. Walmart's commitment to investing in Central America reflects its confidence in the region's economic potential and strategic importance.
The company's focus on growth in these markets aligns with its broader goal of strengthening its international presence and driving long-term shareholder value.
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