The Expat Money Show - With Mikkel Thorup

395: Paraguay: Where Capital Is Clustering & Fortunes Are Being Made – Part 1

Feb 25, 2026
Fernando de Cevallos, a Spanish entrepreneur and property developer driving major projects in Paraguay’s Alto Paraná. He discusses why capital is clustering there, the region’s infrastructure and trade tailwinds, and a bold Ciudad Nueva urban plan. Short, concrete takes on timing, demand drivers, and what makes this place ripe for rapid growth.
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INSIGHT

Paraguay 2X Plan Signals Ambitious Growth Target

  • The government launched an explicit Paraguay 2X plan to double GDP in 10 years using private-sector focused reforms.
  • Fernando references McKinsey-backed targets and recent 6.2% growth as proof of momentum.
INSIGHT

Low Energy Costs Are Attracting Industry From Brazil

  • Industrial relocation and low energy costs are shifting manufacturing to Paraguay, outcompeting Brazil on electricity and labor costs.
  • Fernando notes factories pay ~30% of Brazilian energy costs and benefit from 1% Mercosur tariffs.
ANECDOTE

How Google Earth Guided Development Decisions

  • Fernando recounts using Google Earth time-lapse to track Ciudad Nueva's expansion from forest to urban center.
  • He and his team positioned projects on the 8th kilometer expecting the city's growth axis to move toward them.
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