Latin America is positioning itself as a new outsourcing and staffing hub. A compatible time zone, high-quality IT talent at a competitive price and cultural proximity are making Latin America an especially attractive region for many companies looking to outsource their projects.
The Rise of Technological Talent
The region’s technological talent has enormous potential and is leading the software development industry. Despite the global shortage of IT professionals, Latin America stands out for its rapid adaptation to the digital environment. Every year, more than 730,000 technology graduates, mainly from countries such as Mexico, Brazil and Argentina, join the labor market.
The Shift in IT Outsourcing
For a long time, the IT outsourcing industry was focused on the Asian and European regions. However, Latin American countries such as Mexico, Brazil, Argentina, Colombia, Peru, Chile and Costa Rica are gaining prominence in terms of investment in IT outsourcing.
The Potential of IT Staffing in Latin America
A study by Deloitte indicates that the outsourcing market in Latin America has had an annual growth of 6.3% in recent years, and is expected to continue growing at an annual rate of 6% until the end of 2023. Within this market, 53% is represented by IT services.
Conclusion
Latin America is becoming an important IT outsourcing center. The demand for highly skilled, culturally similar and competitively priced talent has increased. In this context, Latin America has become one of the most attractive destinations for international companies.