Chile is the second biggest salmon producer in the world after Norway. Its abundant fjords in the south of the country offer ideal conditions to farm salmon species. A growing production has helped Chile, and in particular the southern regions to advance economically. This thesis was prepared for Flanders Investment and Trade (FIT), the Flemish agency that helps Belgian companies export abroad. In this precise context, the thesis was written for FIT Santiago to get an overview of the state of the Chilean Salmon industry. The purpose of the research is to analyze the competitiveness of the industry, get an overview of the industry’s global positioning and identify both the potential opportunitiesand risks that the industry presents for Belgian companies.The research included both qualitative and quantitative approaches, in order to understand the market and identify the current conditions for making investments. These market conditions were analysed using SWOT and Porter’s five forces tools. The results show that the industry has reached consolidation. There lie opportunities in optimizing the production process and improving fish health. A renewed trade agreement with the European Union is set to boost exports of salmon to Belgium.However, government regulations and climate change can still impact the industry negatively.