Colombia: The Tech Hub

Colombia: The Tech Hub of Latin America

Colombia, one of those countries that have quickly emerged as a tech hub. Fighting back all evils, such as drug trade and other disgraces, the country has demonstrated tremendous growth that none would have expected. The previously absurd idea of Columbia as an industry hub has now materialized fruitfully. The nation that was previously on the verge of failure has now stabilized itself, attracting entrepreneurs and investors globally. It won’t be wrong to say that Columbia is now the tech hub of Latin America.

Tremendous IT growth

To achieve the goal, the Columbian authorities made extensive plans to stabilize the economy. Besides, they have also been working to grow vertically in the IT industry. Since 2010, the Ministry of Technology (MINTIC) has been awarding incentives to the students pursuing a career in the computer and IT. Under this plan named “Plan Vive Digital”, the ministry has spent more than Us$ 153 million on account of 80% of the training costs for IT studies. It is because of the tremendous IT growth and stability in the region that tech services have set up their facilities here. For instance, many good VPN services have set up their servers in Columbia as well, thus offering dedicated Columbia VPN option to the users.

eCommerce sector rise

Besides typical computing and IT, the country has also demonstrated exceptional growth in the eCommerce sector. They have also reformed their business regulations to support the private sector. The nation strives in doing so by making the internet service more common. For that reason, Columbia has emerged as a country with the fourth highest number of internet users in Latin America. The people even happily rely on internet services and apps, such as Rappi, that has also grown to other countries like Brazil, Chile, Argentina, Mexico, and others. Because of the tech developments, Columbia is now becoming a favorite outsourcing spot for the USA, just like India. Several Columbian cities are now emerging as tech centers of the country.

Brain-drain

During the past few years, Columbia has witnessed “brain-drain” that the country is now trying to reverse. Perhaps, for the expatriates and immigrants, the growth rate of the country may serve as a convincing factor to return back and serve the nation. Although, for now, Bogota seems to rule in terms of advancements in the country. Nonetheless, the nations attempt to bring the knowledge back would certainly allow unleashing the true innovative potential of the region. Indeed, the country is all geared up to host more of entrepreneurial setups from around the world in the years to come.