In the last decade, internet penetration in LATAM skyrocketed from 43% to 78%, surpassing even fast-growing China, significantly contributing to the tech ecosystem's expansion.
By 2023, Brazil had around 500,000 software developers, while Mexico added another 220,000–these nations are at the forefront of LATAM's burgeoning tech talent pool.
The 2023 Global Startup Ecosystem Index revealed that Brazil, Mexico, Chile, Colombia, and Argentina are outperforming more established Western tech hubs, indicating a strong upward trend.
Despite a tough 2022, venture capital in 2023 surpassed pre-pandemic levels, with 770 deals totaling $4 billion, illustrating renewed investor confidence in LATAM's tech sector.
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