To fully understand the foreign markets in which institutions want to invest, they must conduct a PESTEL analysis. Extensive study enables businesses to comprehend many socio-cultural, economic, political, and environmental aspects that may impede the sustainability of the firm (Kotler & Keller, 2016). Peloton limited (an online gym) was selected. John Foley is the company’s current CEO. (O’Boyle 2021). Active fitness training is the company’s goal. It plans to expand its business into Argentina, South America.
A brief overview of Argentina
Before 1500 CE Argentina was inhabited by various indigenous tribes such as the Quebrada de Humahuaca. The first Europeans arrived in Argentina on a Portuguese expedition in 1502. Spain took the country in 1776 and made it a Spanish territory. 1806: The British attempted to invade the nation but were stopped by local forces. The nation declared independence from Spain in 1816. The United Kingdom officially recognized Argentina’s independence on 1825. It is an authentic democratic republic, with elections every five years.
Argentina is eighth in South America. Paraguay ( Uruguay), Brazil, Paraguay, and Argentina are the nations’ borders to the North. To the West, Chile and the Atlantic Ocean to the East border the nation. Over 2900 miles of coastline make up the length of this country. It measures 880 miles from east-west and 2400 from the north-south (Dau, et.ai. 2019, 2019). It is broken down into four regions, with the exception of the western Andes. North is comprised of the highlands, plains, centrally located grassland and the dry, windy, parched region of Patagonia.
More than 75% of Argentina’s households are made up of either married couples and/or married couples with children. Only 10% of Argentina’s single-parent family is made up. At the district level, men dominate Argentina’s gender roles. Women are less open to doing household chores, while men do more energy-intensive tasks. But the community is becoming more progressive. Women are taking on traditionally masculine tasks. The labor market is dominated more by men than women.
Argentina has a 98% literacy rate. Because Argentina has a higher percentage of people actively involved in education, its literacy rate is 12 percent lower than the global average. More than 20% of Argentina’s citizens have a bachelor’s level degree. Argentina is a democratic country with many parties. However, there is one significant party: the Radical Civic Union (1891), founded. UCR is an organization more open to liberal ideas that promotes a leftist worldview. Justicia list Party (second political party) promotes labor union participation in politics. The election resulted in a stable political environment and an easy transition to power. Argentina is known for its high-context society. This means that it is more individualist than collectivist. Group participation is preferred over working on individual projects. Argentinians prefer implicit communication to explicit contact. They are more concerned with how the message is communicated rather than the words (Dau and co., 2019,).