The fast growing tech scene in Latin America

The fast growing tech scene in Latin America

What if I told you there’s a different side of Latin America you don’t know ??
In recent years Latin America has become a fast-growing market for technology companies and we haven’t reached our full potential yet.
Latin America has the 4th largest online market in the world and 2 countries in the Top 20 world economies by GDP: Brazil (#9) and Mexico (#15). (LatamList,2020) but let´s not just focus on these 2 countries; for example, Colombia is a country in which several multinational technology solutions companies have found a market to transform like Bogotá, Colombia’s capital, which concentrates around 81% of the tech companies of the country, with markets like human resources, sales, logistics, IT and more. Colombia is a country that’s been investing in the tech scene for quite some time now. Since 2016, investment in Latin America startups increased from $500 M in 2016 to $4.6 B in 2019 confirming the approach the region in having in terms of technology.
Here´s a list of the markets that are having a huge boom
-Fintech
With the recent COVID-19 pandemic, the demand for alternative financial services increased and fintechs came to fulfill that need, with over 31% of the region’s venture capital, the fintech market was the highest funded startup industry. 70 % of Latin America doesn’t have a bank account so the growth potential of this industry is huge and it will continue growing.
-E commerce
We all know what e commerce is, we used it and love it for the practicality it brings to us. Latin America´s e commerce scene is one of the fastest growing in the world with a 36.3% compared to the global average of 10%.
-Edtech
Latin America is the 4th largest consumer of Edtech in the world, with many people restricted to stay at home, online education platforms are emerging as one of the top markets in the world with a growth of 40% in recent months.
These and other figures are highly encouraging for people looking to tap a rapidly growing market, and it follows that a stronger internal tech culture will also form the groundwork for Latin America´s  own aspirations in the field of innovation.