Several countries representing a population of around 440 million people were selected by Gartner as their top 8 options to offshore in Latin America. The region continues to prepare and compete for more investments and also local development. Investment promotion agencies, new regulations, special economic zones, special talent development plans, a big contribution by the Interamerican Development Bank all make this a glowing region.
If you do the math, 440 million people are able to capture, our guess, around 8% of the total Global offshoring market, while India with 1200 million habitants captures 55% according to Nasscom. This means just by a basic math, Latin America could be growing to: 55 * 440 / 1200 = 18%. While this are gross numbers, if you add new trends in innovation, agile development, higher end user affinity and less technology requirements, you certainly should focus more and more in Latin America.
That may explain why new countries like Guatemala make to the list. And smaller countries like Uruguay with just 3.2 million people make to the list. Is not just big numbers anymore, it’s also quality of the talent pool, innovation and predictable, good business environment that make the cut.
Deciding on a new location is a challenging effort. We at MVD Consulting will be glad to offer you our help to sort out doubts and choose the best possible option. Now and for years to come. Please contact us at firstname.lastname@example.org