Trends in LATAM for 2025 - Part 2
LatAm tech space, growth of expatriates in Brazil, fintech as a market to watch for investors and LatAm talent landscape
Hi, this is Juliana, and welcome to a free issue of the Hiring in LatAm Newsletter. In every issue, I share insights and tips to simplify hiring in Brazil and other Latin American countries. Whether you're a foreign company expanding operations in the region or already established and are looking to navigate the nuances of building a stellar team, this newsletter has you covered.
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1. Latam Techspace in 2025
The World Economic Forum's Future of Jobs Report 2023 estimates that by 2030, emerging economies will contribute 50% of the global workforce growth.
IT market value in Brazil
According to Statista data, the Software market in Brazil is expected to reach a projected revenue of US$9.98bn in 2025.
Looking ahead, the Software market is expected to grow at an annual growth rate of 5.94% from 2025 to 2029, resulting in a market volume of US$12.57bn by 2029.
In comparison to other countries, United States is anticipated to generate the highest revenue with US$379.30bn in 2025.
Brazil's software market is experiencing significant growth with a surge in demand for cloud-based solutions and a focus on digital transformation.
How Many Developers are there in LaTAm?
Latin America has approximately 2 million software developers, according to this research and this number is growing as countries invest in tech skills and education. Argentina’s government, for example, launched a free coding program in 2022 to boost tech careers. In 2021, the region saw $19.5 billion in venture capital and tech investments according to Crunchbase.
2. Growth of expatriates in Brazil will continue to grow through 2025
Brazil’s 2024 work visa total highest in a decade. Business expansion in sectors such as energy, infrastructure and tech are driving the growth of expatriates in Brazil and will continue to grow through 2025.
The number of work visas granted to foreigners in Brazil in 2024 has reached its highest level in nearly a decade, surpassing pre-pandemic figures. Global mobility experts attribute the surge to business expansions fueling demand for technical expertise in key sectors such as energy, infrastructure and technology.
Brazil’s relatively low cost of living compared with developed economies has also drawn foreign professionals. Many expatriates report financial improvements after relocating to Brazil, according to a recent report by Mauve Group, which polled 600 expatriates working in Brazil, Colombia and Mexico. Favorable living costs and healthcare benefits attract professionals.
3. Latin America fintech will be a market to watch
In 2024, $2.6 billion has been invested across 174 deals, according to PitchBook data, representing a 73% increase in funding volume compared to 2023.
4. Latin America talent landscape and their specialities
Brazil boasts a skilled workforce in engineering, manufacturing, and agribusiness. With its proximity to the US, Mexico's robust manufacturing sector is attracting attention in the tech industry. Argentina is a rising star in the creative industries and software development. A study by the World Bank highlights that Latin America's middle class is projected to reach 400 million by 2030, showing a significant consumer base and increased demand for skilled labor.
5. People to follow who talk about Brazil (in English)
If you want to know more about Brazil and Latin America I have a website and 2 people to recommend that are truly worth following:
The Brazilian Report: news about Brazil covering politics, business, economy, climate, agro, sports and society.
Weelkly Tech Updates: news on LatAm tech and other curiosities about the ecosystem by
.Brazil is not for Beginners: podcast about the opportunities and challenges of doing business in Brazil. Hosted by Isaac Matzner , co-founder of Teddy and has been living and working in Brazil for almost a decade
Recommend Hiring in LAtAm to your readers.
The most relevant insights and updates about the Latin American workforce, designed for foreign companies looking to hire in the region.
Thanks for reading!
Juliana.