Peru - Lima

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Just few hours here, and I knew I was going to love the city (not sure why so many tourists don’t show much affection for it?). Whether in the trendy Miraflores, the business center San Isidro, or the historic center, the capital seemed to have the buzz, diversity, and culture I had been craving on my trip, and frankly had not seen since leaving Buenos Aires. While the museums and theaters can’t match up to those of BA, they are still pretty good and you can easily spend few days here exploring the exhibits, strolling the streets, and sampling the gastronomical creations of the local chefs. Peruvians (and Limenos even more so) are proud, and rightly so, of their cuisine, as diverse as their people and the landscapes. I had some of the best sushi on my trip here; you can find restaurants in Lima serving a fresh 16 piece sashimi combo for mere $10. I was lucky to have been introduced to three Limenos who took me to some absolutely amazing restaurants (thank you Fernando, Patricia, and Galantino!). This could have been in NYC or London, but with 1/3rd prices. Also, if you like coffee or are a Starbuck fan, be happy - you will find it here! After a 5-month abstinence from Café Late Venti, I was in my local Lima Starbucks every morning, munching on a chocolate muffin while reading daily newspapers. Finally, if you are into surfing, Lima is the place for you. In fact, many Limenos make it a daily habit to surf before dressing up and leaving for work.

It was obvious here, much more than anywhere else in Peru, that the economy has been booming. The department stores (some of them stocked and priced as if in NYC or London), restaurants, and theaters were bustling. In last 5 years, the GDP growth has consistently outperformed most of Peruvian neighbors, and in 2006 the stock market advanced by over 100%. Is this a bubble? Likely so according to the locals I talked to. I was told that the people are so enthusiastic about the stock market that they even take out second house mortgages to invest in stocks. PE ratios are often in 20s, with a majority trading activity in mining and banking, typically not quite high-growth / low risk industries justifying a high multiple. But for now everybody seems to be happy as even the cab drivers gain 10% profit a month (not year!) from their investments. As long as China and the US keep buying their metals for high prices, life is good…

After three days in Lima, I took and overnight flight to Santiago, Chile, and later to Madrid and Prague. Officially, this is the end of my South American trip and this journal. Thank-you for reading my entries, and thank-you to all those I met while traveling! I am now in Europe and will be moving to NYC in mid August. Let me know if you are nearby!

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