Latin America as the Next Hub for Technological Innovation

Latin America (LATAM) is rapidly becoming a gem in the technology sector as a fast-paced innovation hotspot for IT professionals. It is developing an outstanding array of companies in addition to focusing on being a leader in the remote workplace.

Latin America has discreetly invested in its expertise, and the benefits are paying off. Silicon Valley has long dominated the IT industry as the hub of infrastructure and engineering.

Global organizations, particularly those in the U.S., are expanding their search for the best people available with the introduction of the remote and hybrid workplace.

With access to highly skilled technologists, shared time zones with many areas, and a high level of English language proficiency, LATAM is quickly becoming the preferred talent-sourcing destination for U.S. companies.

Continue reading to gain further insight into LATAM’s influence in the tech space.

Latin American Market for Tech Talent

The majority of the finest technological talent in the U.S. is already employed, which is why businesses must seek abroad for talent. Latin America, which has the advantage of being in the same time zone as the U.S., is one of the regions with one of the largest pools of tech talent and is conveniently accessible to the U.S.

Latin American developers typically work on maintenance-related tasks, such as maintaining legacy code in U.S. banks and huge enterprises. This suggests that the programming languages and software versions used are not the latest.

Furthermore, the number of people with this experience is still small but steadily increasing.

Investors’ Interest in Latin American Startups

Crunchbase reports that in 2021, venture capitalists invested an estimated $19.5 billion in late-stage and technology firms in Latin America, enabling some of them to achieve unicorn status and switch into hyper-growth mode.

According to experts, VCs are getting better at spotting software businesses that are addressing important but highly specialized societal problems in Central and South America. Latin America is emerging as a hub for VCs, who are looking for fresh chances outside of traditional markets and are seeking to surpass 2017’s record there in 2022.

Latin America’s software and hardware sectors reached previously unheard-of heights as a result of the region’s exponential technological advancement.

An enormous increase in technical skill, particularly in software development, is one of the key outcomes of this surge of venture capital investments. Software developers in Latin America are increasing more quickly year over year.

Brazil alone generates 130,000 engineers and technicians annually, compared to 227,000 STEM graduates from Mexico.

Technologies in Latin America

The most popular technologies sought after by U.S. businesses and easily accessible in Latin America are, to name a few, the following:

• PHP,.NET, RoR, Python, and Node.js for backend
• React.js, Vue.js, and Angular for frontend
• React Native, Flutter, Swift, and Java for mobile development
• A wide range of blockchain technologies
• Resources like QA, DevOps, and UX/UI designers

The need for the industry’s top experts has inevitably risen as a result of the IT sector’s recent acceleration in expansion. Given the opportunities presented by the power of technology, the hunt for IT workers must now go beyond the locality or nation of origin.

In Mexico, 23.5 percent of the tech jobs are remote, which allows these professionals to work anywhere in the world, according to Hireline’s 2022 IT Labor Market Report.

Conclusion

Latin America has become the perfect region for businesses and entrepreneurs to take their innovative ideas, as it offers great potential for growth.

This is due to a highly educated and diverse workforce, a supportive and friendly environment, vibrant ecosystems, and attractive and low-cost operational benefits.

Even if hiring IT specialists may seem like a massive burden for businesses today, several solutions might assist talent acquisition processes to be optimized.

LatamRecruit is a trusted tech recruiting agency in Latin America. We help you source and prescreen the best tech talent and high-quality engineers. Save money and time by hiring English-speaking talent in Latin America who are working in U.S. time zones. Contact us today to get started!