The talent shortage is worsening by the day in Brazil, with Latin America’s largest economy projected to see as many as 400,000 IT jobs lie vacant by the end of 2022.
The shortage of tech professionals is the biggest challenge facing the Brazilian IT industry today, says a study conducted by Softex, a social organization dedicated to promoting the IT sector, particularly in the Brazilian state of Parana.
The report estimates that the shortage could have cost the industry US$32 billion in lost revenue between 2010 and 2020.
Bolstering the talent pool is crucial for Brazil to retain its title as the world’s 10th biggest IT market, stated Lucas Ribeiro, CEO of Assespro-PR, (the Association of Brazilian Information Technology Companies).
He said the study was carried out with the intention to create awareness about the need for skill training.
Vtex, Brazil’s e-commerce solutions vendor, has recently warned that talent shortage could slow down growth in the IT sector. In an interview with the local news outlet, Mariano Gomide de Faria, Co-founder of Vtex, said there are fewer students even in the country’s tech universities.
However, in 2020, only 43,000 IT jobs were vacant, according to Sergio Paulo Gallindo, Executive President of Brazil’s IT lobby group Brasscom.