Several places in the world are known for their thriving tech scenes, from Silicon Valley in California to Silicon Alley in New York, from Silicon Wadi in Israel to Silicon City in Bengaluru — and that’s just a few of the “Silicons.” Shenzehn, China is known for its hardware dominance. TheRhine-Main-Neckar cluster in Germany is famous for business software. And so on.
However, there’s one country that companies should be paying more attention to as a rising tech hub: Argentina, especially its capital, Buenos Aires. The third-largest economy in Latin America, Argentina is home to one of the fastest growing and incredibly talented workforces out there.
Although Argentina as a nation has faced and is facing some troubling times, media articles that focus on the country’s macroeconomic trends miss out on a very important factor that remains constant: its people. In fact, Argentina is a prime destination for any company looking to build or enhance a highly qualified and innovative engineering or development team.
Here are a few reasons why Argentina’s workforce stands out in the global tech market.
1. Argentina Has a World-Class Education System Highly Focused on Tech Skills
Argentina’s powerful human capital is strengthened by its stellar higher education system. Thanks to its network of 39 universities (7 of which are ranked among the top 50 in Latin America) and its free tuition for higher education, more than 1.5 million students are enrolled in higher ed each year. As a result, Argentina has one of the most highly educated populations in Latin America, according to the World Economic Forum.
This is especially the case in Argentina’s capital, Buenos Aires. As TNW reported, “Buenos Aires is famed across Latin America for its high level of education and talent. Some even say it is without parallel in the region.”
In particular, Argentina has pushed to remain competitive by strengthening its education in IT. For example, in 2015, Argentina established Program.AR to encourage the integration of computer programming into public schools. Teachers across the country have become certified to teach programming through the program. This, along with scholarships for tech students and the competitive salaries found in the tech sector, is leading more and more students to pursue higher education in tech fields.
The result is that a new generation of talented, educated and tech-savvy workers are emerging in Argentina with valuable skills, ready to take on innovative tech challenges.
In fact, this year, Coursera’s 2019 Global Skills Index report ranked Argentina as #1 in cutting edge technology skills, with particular strength in software engineering. “Argentina outshines all its neighbors by a wide margin,” Coursera reported.
2. Argentina Has More English Speakers Than Any Other Latin American Country
Argentina also tops the list when it comes to English language skills. According to EF’s English Proficiency Index — the largest world ranking on English proficiency — Argentina ranks first among Latin America for knowledge of English.
Argentina’s combination of highly qualified and skilled professionals with high English proficiency has made it a strategic point of entry for global businesses interested in expanding to the region. It has also made Argentina a popular destination for companies looking to build talented software engineering and agile development teams, as Argentinian engineers are primed to work seamlessly with international companies.
As Reuters reported, Argentina is on the cusp of a tech boom, in part because “Argentina’s relative abundance of bilingual college graduates… have made it a hub for ‘near-shoring,’ in which companies outsource to Latin America rather than to distant locations like India and the Philippines.”
Argentina’s English attainment is just one sign of the readiness of the country’s talented workforce to play a key vital in the global tech economy. According to TNW, Argentina is a net exporter of developers and has a better track record when it comes to success stories compared with its neighbors. This led one international CEO to say, “Argentina is our secret weapon.”
3. Argentina Is Taking a New Lead in Cutting-Edge Tech Fields, Including Blockchain, FinTech and More
For well over a decade, Argentina has been recognized as a tech hub because several of the largest tech companies in Latin America were founded there. This includes several high-profile tech “unicorns,” i.e., companies valued at more than $1 billion. Buenos Aires is unmatched in the region as a tech incubator, with 4 out of 10 companies considered unicorns in Latin America centered around the Argentinian capital. One of the most widely known of these unicorns is MercadoLibre, the e-commerce company often referred to as the Amazon of South America.
But the country’s tech scene goes far beyond these established unicorns and is in fact headed faster into the future of technology than many of its neighbors. A Wharton School report last year described Argentina as having a “vibrant and growing entrepreneurial ecosystem involving hundreds of technology startups, many of whom have already achieved global recognition for their innovativeness and potential for growth.”
For starters, Argentina is a blockchain hotspot. Several high-profile blockchain start-ups have a home there, such as Flixxo, Bitfarms, and Ripio Credit Network, among others. The government is also investing in blockchain: this spring, Argentina announced it would match investments of up to $50,000 into blockchain projects that received funding from Binance.
Similarly, there has been a massive growth in innovative fintech companies in Argentina recently. Argentina also has the largest venture capital fund in the region.
The vital digital transformation that Argentina is undergoing in cutting-edge areas of tech points to a talented, skilled and ambitious tech workforce that will lead the country’s tech scene into the future.
In conclusion, for these and many other reasons, Argentina possesses one of the most exciting and innovative tech workforces on the planet. These strong, high-tech human resources have incredible potential to reshape technology and bring bold new ideas to the global scene. Any company in the market for highly qualified engineering and development teams with top-notch skills and international expertise should definitely pay attention to this vibrant and talented workforce.
Can Genium help connect your company with world-class developers and engineers?
At Genium, we’ve made it our mission to recruit and retain the world’s best engineers and developers who are skilled in the most cutting-edge areas of tech around. In particular, we’re leading the way in connecting global companies with one of the most powerful talent pools in the world through our Buenos Aires, Argentina office. Through both team extensions and custom development projects, we provide innovative companies with the in-demand skills and expertise that keep them powered by innovation while minimizing risk. Contact us today to find out how we can tap you into a wider pool of talent, from Buenos Aires to Silicon Valley and beyond, and connect you with the experts you need to innovate at warp speed.