Software outsourcing in Latin America is growing at an impressive rate: itâs the region with the second fastest-growing software developer population in the world, behind the Asian Pacific.
Latin America offers some key advantages over these regions, making them a more attractive option for North American companies.Latin Americaâs advantages:⢠Close physical proximity to North America â shares time zones with the U.S. and Canada.
⢠Modern telecommunications infrastructure ⢠Cultural parity with the U.S. ⢠Tax incentives in many countries ⢠High rates of English fluency⢠Favorable business environment Letâs examine some of the primary contributing factors in Latin Americaâs growing popularity as a destination for outsourcing software development, starting with access to more and better talent.Access to talent:Software Engineers in  New York (state): 218,041Software Engineers in USA: 1.36M Software Engineers in the world: 23.9MSource: StatistaA large part of the demand for nearshore software development talent comes from technology hubs in the U.S., like San Francisco and Boston, where more and more companies are competing for a dwindling pool of qualified candidates.
Companies have started looking to source talent from less competitive job markets.
By tapping into these markets, smaller startups can compete with large local competitors in terms of talent acquisition.
For example, your dental plan or benefits package might not be able to compete with those of Google or Facebook, but in cities with a lower cost of living, the level of talent youâre able to attract will increase dramatically.