Latin America is growing in attention and ambition to become one of the fastest developing regions in the Service Industry and investors will be happily surprised by the ease of doing business here. There are multiple opportunities to bring service operations to Latin America all the way from software testing to high-end BPO practices like patent filing.
Let’s take the Cali example. Just 45 minutes on regular airline connections from Bogota, but also with direct flights from Miami, Quito, Madrid and other international destinations, Cali welcomes investors with a very professional Investment Promotion agency, InvestPacific.
They support investors to understand the area opportunities, connecting them with lawyers, head hunters, realtors, business people and government and helping them to squeeze more value from incentives and promotion funds for newcomers. Local government is also showing a tremendous interest in developing the ITO-BPO service industry.
As the third largest city of Colombia with a population of 2,5 million Cali has a vast network of public and private Universities. ICESI and Javeriana are most prominent in IT engineering and business administration, continuously generating new talents for senior and middle management positions much needed in service industries.
And then, Zonamerica, an A class office park blessed by a Free Trade Zone regime that reduces corporate income tax to 15%, will bring a complete new business office environment. With already proven and successful history operating from Uruguay, Zonamerica provides an incomparable concept for investors as well as for young professionals to work there.
Secondary cities may be unknown or under the radar for new investors. But by offering the above mentioned advantages those cities started to compete with their big sisters (like Bogotá for Cali) and are winning more and more interested parties. Nevertheless deciding on Cali or other secondary cities should be done based on a detailed and professional location analysis considering the specific requirements of the investor’s business.
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