Narayan AmmachchiUruguay’s Information Technology sector is booming, emerging as the main driver of the nation’s economy. In 2023, the IT sector accounted for an impressive 4.4% of the country’s GDP, with total revenue soaring to $3.3 billion.
Projections indicate that by the end of 2025, the IT sector will represent 5% of Uruguay’s GDP, and this figure is expected to double to 10% by 2030, according to a report from Spanish news outlet Infobae
Approximately 300 companies in Uruguay are engaged in software production and export, with 262 of these being members of the CUTI, the country’s IT lobby group.
The majority of their income, 76%, comes from exports, with the United States being the largest partner, accounting for 80% of IT services exports. Other key export destinations include Britain, France, and Spain.
Analysts point out that small and micro companies have been experiencing rapid growth, with 40% of exporting companies falling into the small business category.
Employees in Uruguay’s IT sector enjoy an average monthly salary of $2,300, which is double the national workforce average.
The IT sector’s growth is not only boosting the economy, but also creating a thriving job market, making it an exciting time for tech professionals in Uruguay.
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