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9. Peru

Ranking last year: 18
Population: 29,907,003 (July 2010 est.)
GDP per capita: $8,600 (2009 est.)

A.T. Kearney said many people compare the Peru of today to the Chile of 10 years ago. As such it offers retailers some interesting opportunities, not to mention growth. As many of the economies of the world slid in 2009, Peru eked out positive GDP growth of 0.6 percent.

Pictured: Cusco, Peru

Photo: Travel Ink | Gallo Images | Getty Images