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For years, India has been the epicenter of offshore technology services delivery for U.S.-headquartered enterprises. But our Market Vista Annual Report 2019 and Predictions for Global Services Delivery Locations 2019 reports show that a host of factors are driving a much closer look at Latin American countries as a destination for the delivery of IT services.
So, what’s making Latin America click with companies of all sizes, including some of the world’s biggest brands, like Amazon, Facebook, Google, HP, Intel, and Microsoft?
The time zone differences between India and the U.S. are impeding demand for agile development. But because Latin America and the U.S. share similar time zones, the delivery and client teams can collaborate in real time.
Due to strong government and educational support, Latin American countries are producing an ever-growing number of talented professionals with relevant, and often advanced technology skill sets, like blockchain, artificial intelligence, and machine learning.
The abundance of low-cost technical talent is driving a surge in Latin American country-based technology start-ups through accelerator programs such as 500 Startups, Techstars, and Y Combinator. Investors are also betting high on tapping the potential of technology start-ups in the region. For example, SoftBank Group in March 2019 announced a US$5 billion Innovation Fund, touted to be the largest-ever technology fund in Latin America.
Although India is far more cost competitive than Latin American countries, competition in India is increasingly intense given that it is home to more than 1,100 shared services centers and thousands of service provider delivery centers. Because there are fewer service delivery centers in Latin America, competition for talent is comparatively lower, making it easier for companies to hire the best talent.
Most Latin American countries have significantly improved in English language proficiency over the years. And their Spanish language skills are valuable to the U.S. market given the large Spanish population residing in the country.
What are the top five Latin American countries doing to advance their attractiveness to technology services clients?
With their strong trade links, nearshore advantage, and growing technology talent pools, several of the Latin American countries offer a multi-pronged value proposition to enterprises seeking an IT services delivery destination.
To learn more about the region, please read our Market Vista Annual Report 2019 and Predictions for Global Services Delivery Locations 2019 reports.
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