Chile’s Growing Economy that Continues to Expand, Traveling in the City, and the Fish Market (5/17)

In the morning, we visited Bolsa de Comercio Santiago (the Santiago Stock Exchange). I had high expectations prior to the visit and the entrance resembled what I think the New York Stock Exchange looks like (I have yet to visit to say so for certain). We discussed how capital markets strongly influence Chile’s economy, such as the mining industries that originally mined for nitrate and petroleum but now mine for copper (one of Chile’s chief exports). We talked about how public works projects, such as highway infrastructure, are financed through purchasing bonds. Hence, Chile’s economy enhances through an active investment sector. Additionally, retail thrives through an influx of stock commissions.

What surprised me was that advancements of the Internet have severely altered the stock market and how transactions are conducted. I would expect this in the United States, but was not aware the Internet would be so prevalent in Chilean business. Then again, Chile is one of the most advanced South American countries, so the use of advanced technologies makes sense.

The presentation of the company included a video and power point that had a lot of useful information about the history of the stock market, Chile’s economy, and where it is headed in the future. When we visited the stock floor, it looked very modern but was nearly empty. This is because of the technological influence. However, certain aspects of the floor are now national monuments and cannot be changed. I wish the floor would have been active, so that I could gain the exposure of the rapid transactions occurring that I had expected.

Later, we toured Santiago. I noticed the city was very crowded and that the buildings reminded me of the setup of downtown Pittsburgh. There were street vendors (this open market was becoming a trend) and street performers. The atmosphere was unique and reminded me of a boardwalk near beaches, but with the influence of Chilean culture.

For lunch, we went to a fish market that served many types of fish (most, I do not believe I had eaten before) and were in large portions. With its close vicinity to the Pacific Ocean, Santiago (and most of Chile), had a strong market for fish (and at cheaper prices than they would be in Pennsylvania). After lunch, we took a trolley (like the incline in Pittsburgh) that oversaw the entire city of Santiago. The Andes Mountains were also visible for the first time on the trip, which was an exciting site to see. Naturally, there were many shops for souvenirs, and a giant statue of the Virgin Mary (demonstrating how influential Christianity is in Chilean culture).

For dinner, we went to a small restaurant that served Chinese food, empanadas, and other Chilean influenced food. I had Hawaiian pizza which was a unique combination of flavors. Although I have tried Hawaiian pizza in the United States, it had a distinct taste that I enjoyed. After dinner, most of us stayed in because it had been a busy day.