We share a report of the Ukrainian company N-iX, installed in our city, where they talk about the competitive advantages of the most important countries in the region such as Brazil, Argentina, Mexico and Colombia. Additionally, they focus on the city of Medellin which is valued very positively as an attractive city for investment due to its costs, quality of life and human talent.
N-iX, a global software solutions and engineering services company, has published an in-depth report examining the tech landscape of Latin American countries, including Colombia, Brazil, Argentina, Mexico, Uruguay, Costa Rica, Chile, and others.
Latin America has a tech talent pool of almost 2 million professionals. As a result, the region’s growing tech industry and talent pool make software development outsourcing an attractive option for businesses looking to tap into the region’s potential. The comprehensive report analysis aims to assist senior executives, tech and business leaders seeking software development partners, strategic sourcing destinations, and development centre locations.
As N-iX has an R&D center in Medellin, Colombia, the first part of the report is dedicated to Colombia.
In 2021, Colombia ranked third in the region after Mexico and Brazil in terms of IT market size, with $10.2B.
By 2025, Fedesoft, the Colombian Federation of IT and Software Industries, wants software to account for 5% of Colombia’s GDP. Since the ICT industry in the country has begun to diversify, the sector is expected to grow in the coming years. Along with telecommunications, Colombian and Colombian-based companies are engaging in software development and AI-aided consulting.
The country ranks 13th on the Global Services Location Index. Colombia marked the strongest advance of any country in the 2016 GSLI, moving up 23 spots to 20. This was driven by a combination of improvements across the board in financial attractiveness, largely fueled by depreciation of the peso, and solid gains in IT and BPO experience.
The constant innovation and dynamic development of Colombia’s technology sector attracts companies looking to partner with Latin American software developers. Between 2015 and 2019, IT services exports increased by an average of 3%, reaching $229.1M. As a result, the country is now a gateway to international markets, including the United States (33%), Ecuador (14.1%), and Mexico (8.3%).
To access the full report, please, visit N-iX website.
To learn more about N-iX’s software solutions and engineering services, visit N-iX Team Extension in Latin America page.