Unlike what happens in Panama, Colombia or Peru, paying rent for commercial premises is cheap in Venezuela, which could be an incentive for Spanish and international brands.

The Venezuelan Chamber of Shopping Centers (Cavececo) is holding various meetings with "important" brands from Spain that want to return to Venezuela, such as Zara or Mango, although at the moment no official announcement has been made about this possible return to the Venezuelan market.

In radio statements, the president of the Chamber, Alfredo Cohen, has shown himself to be "happy" about this possible return of important Spanish companies, about which he did not want to give names, despite referring to Mango or Zara as examples of Spanish brands. who could be taking part in these meetings.

"There are international brands that are already returning to Venezuela. We want them to return and mix with local brands to give an international market image," he said.

Among the reasons for this return, Cohen has referred to the improvement that is progressively occurring in the country's economic context. Cavececo is "sure" and "confident" of this economic recovery in the second half of the year, highlighting mainly the reactivation of consumption by Venezuelan households.

Thus, facing a second half of the year that "will not be the same" as the first, Venezuela's commercial sector will seek to provide greater purchasing options to the country's population and to increase activity in shopping centers.

Unlike what happens in Panama, Colombia or Peru, paying rent for commercial premises is cheap in Venezuela, which could be an incentive for Spanish and international brands.

"International companies know what it's like to sell in Venezuela and the traffic we handle. The rental figures are affordable for tenants," Cohen said.

The Inditex Group left Venezuela in May 2021. The company had several stores in the country that it managed under the franchise regime, unlike its business model in most countries, where it has its own stores.