Venezuela market overview
Law firms are notoriously recession-proof, but Venezuela has shown there are limits to the attribute. Prolonged economic malaise continued to affect law firms in 2018, not helped by growing political uncertainty. A presidential crisis gripped the country in January 2019, as the opposition-controlled National Assembly declared that incumbent Nicolás Maduro's 2018 re-election was invalid. Its president, Juan Guaidó, was officially recognised by over 50 countries as acting president of the nation. At most, law firm managing partners have grudgingly accepted the situation and are working hard to maintain their business during these difficult times.