Political Risk Latin America Blog @PolRiskLatam

Is Chile becoming Latam’s IT hub?

Posted in News and Articles, Political Risk by politicalrisklatam on March 16, 2011

by Jude Webber for Financial Times – Beyond Brics, March 15th, 2011.

Think of Chile and you probably think of copper, wine, salmon… but IT?

Fuelled by government investment, the IT industry grew 18.5 per cent in revenue terms to $3.5bn in 2010. Though still tiny in overall terms – 1.7 per cent of the total economy – the industry is positioning itself both to lure technology companies to the region and to export IT services like software design, online banking services and digital marketing, especially to the US.

Carlos Fernández, CEO of Chile-IT, a non-profit, government-backed organisation, says investment in the industry is running at about $4bn a year and growing at an annual rate of 8 to 10 per cent. Chile-IT seeks to spur the development of the industry and develop partnerships in the North American market where Chilean companies can provide IT expertise to local companies. (continue reading… )

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