Sat. Jul 13th, 2024

In recent years, Latin America (LATAM) has emerged as a significant contributor to the global tech talent pool. From 2019 to 2023, we received an astonishing 5 million-plus candidate applications from the region. This surge can be attributed to diverse factors. 

One of these factors is the increasing prevalence of remote work. Another significant contributor is the rising number of STEM graduates in the region. In particular, Mexico and Brazil produce a substantial combined total of 605,000 software engineers each year. Additionally, there’s a new trend we’ve identified known as e-migration. This trend involves talented individuals discovering improved job prospects without needing to relocate from their local communities.

Key Findings

  • Brazil, Colombia, and Mexico are leading the way. They have played a key role in concentrating the highest number of tech professionals in the region. Together, they brought in over 1.8 million applicants from 2019 to 2023.
  • Chile’s Incredible Growth. Chile has emerged as a standout performer. The country witnessed a staggering 2,500% increase in applicants in 2023 compared to 2019. Chile is followed by Brazil (1,000%) and Venezuela (960%).
  • Central America and the Caribbean on the Rise. Central American and Caribbean countries are also making their presence felt in the tech talent landscape. Panama, Jamaica, and Trinidad and Tobago collectively contributed over 40,000 applicants from 2019 to 2023.
  • More Women in Tech: In 2023, we observed a 25% increase in female applicants. Brazil stands out with a remarkable 778% growth in female applicants from 2019 to 2023, followed by Colombia and Chile.
  • In-Demand Tech Expertise: Over the past five years, we have seen a significant demand for specialists in Node.js, React, Python, and Java. These technologies continue to be highly sought after by our clients.

Conclusion

The data presented above portrays a promising scenario for Latin America, positioned as an emerging tech hub due to its nearshore advantage. Factors like the increase in demand for tech talent, time zone, and cultural alignment with clients in North America have contributed to this shift. Growing investments in the region have also facilitated greater access to top-tier talent.

Download this infographic to access an in-depth analysis of 5 million applications. Learn why LATAM is on its way to changing the world’s tech supply and diversifying innovation processes globally.

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