We see high risks, small scale and limited growth opportunities across the region as a whole. A crucial factor underpinning our forecasts for infrastructure investments in the coming years is political risk. To a very large extent, the out performance of Panama and Costa Rica is down to their relatively superior political and security stability. On the one hand there is Panama and Costa Rica, while on the other, characterised by very high levels of violence and security threats, income and social inequality, pervasive corruption and divisive political environment, are El Salvador, Honduras, Guatemala and Nicaragua. Local and regional companies, as well as Chinese construction companies, will be most likely to benefit.