LatAm, Caribbean Seek Bigger Share of Outsourcing Market; Convene in Uruguay

The Inter-American Development Bank (IDB) is holding today and tomorrow (April 14-15) the first Latin American and Caribbean Forum on Offshoring and Outsourcing, OUTSOURCE2LAC, in Montevideo, Uruguay. The event, which will be attended by entrepreneurs from Latin America and the Caribbean, India, the Philippines, the United States, and Europe, is being jointly organized by the IDB’s Integration and Trade Sector, Uruguay’s Agency for Promotion of Exports and Investment (Uruguay XXI), and the consulting firm Tholons.

The outsourcing industry accounted for more than $200 billion in global revenues in 2010, of which less than 10 percent went to Latin America. However, the region has strong prospects to grow in the sector. Latin America’s favorable conditions for increasing its participation in the international services market include its well-known economic and political stability, skilled human resources, and government support.

OUTSOURCE2LAC aims to introduce entrepreneurs from Latin America and the Caribbean to developments and global trends in the service industry and to opportunities available in the international market. At the forum, representatives of firms and associations in the service sector from India, the Philippines, the United States, Europe, and Latin America will lead discussion panels attended by representatives of export and investment promotion agencies from more than 15 countries in the region.

These entrepreneurs also will have the opportunity to meet with potential strategic partners for outsourcing operations. The forum will provide technical support and matchmaking services for business meetings at no cost.

More than 400 business and service sector representatives from around the world will attend the forum, with more than 800 bilateral business meetings expected.

For more information, contact Emiliano Sánchez (emilianos@iadb.org) or Larissa Perdomo (lperdomo@uruguayxxi.gub.uy).