This paper attempts to develop an analysis of Latin America based on the opinions gathered in a harmonized quantitative research survey conducted in nine Latin American / Caribbean countries. This was the first wave of a Tracking Study designed to accompany the changes which have begun to occur in the region. This first wave is going to show that the Latin American peoples' concerns are intense and varied in nature, the level of confidence entrusted to the public institutions in their countries very low. Each country's image is also discussed in detail, and as such, makes it clear that Latin Americans have a weak perception of their neighboring countries, their populations and the products they manufacture. In a more positive fashion, Argentina, Brazil and Mexico, and Colombia in a more negative vein were the countries whose images stood out the most within Latin America. From such a standpoint, we moved on to observe the similarities and differences in the different Latin American regions in an attempt to get to know such differentiated consumers better and identify gaps and investment opportunities, as well as difficulties, at a time during which there has been greater economic integration between the countries.