Why Latin America looks set to be the perfect destination for outsourcing in 2023
Did you know that Latin America is fast becoming a hub for business outsourcing?
Well, in today’s post we’ll be exploring the reasons as to why this is becoming the new normal within many markets, and hopefully get you interested in involving yourself.
So, why Latin America?
One region in particular that is presenting itself as a potential hub for business in the near future is Latin America. If you are looking to open a branch of your company overseas, or even to simply outsource some aspects of it, then Latin America is worth considering as a top choice.
Initially, the outsourcing opportunities are too significant to overlook. Whether it is to save money or to make the most of having access to highly developed workforces.
Expanding operations to Latin American nations goes hand in hand with outsourcing, as local people are the best employees for businesses operating abroad because of their unmatched knowledge on business operations in their country.
English language proficiency
The first factor that separates Latin America from other outsourcing hubs is the extremely high level of English proficiency, meaning companies operating in Europe and the United States are able to communicate efficiently and clearly the desired operations and business functions required from the outsourced workforce.
Advantageous time zones for Western companies
It is also important to look at the time difference between these regions in conjunction with this, where, for example, New York is only 1 hour ahead of Argentina and either 3 or four hours behind London depending on the time of year.
This makes Latin America extremely attractive for foreign business as any issues or requests can be made without delay and maintain the level of productivity that would be found if all of the workers were based in the same office space.
The quality of the software outsourcing market, for example, is not based on US companies being active in Latin America alone. In fact, the IT education presence and subsequent workers coming through the ranks shows the homegrown talent in the Latin American nation is unmatched and therefore a location to consider for outsourcing.
A case study, the expanding IT sector
If we dive into the numbers, it becomes clear that the market is large and expanding, with over 115,000 workers in the IT sector in Argentina, as an example, and a majority of this number operating at semi-senior level or higher (76%), the outsourcing potential becomes more viable as the higher costs become even more reasonable with more benefits added to the list of reasons as to why Latin America is such a good choice.
So, if you are interested in finding out more about the pathway to outsourcing your business operations to Latin America, as well as other opportunities to develop your business, contact us today! Below this article, you will find a link to set up a free fifteen-minute consultation with us to discuss your options further.
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