How Remote Work Presents New Data-Driven Business Opportunities in Latin America As Latin American businesses increasingly come online, here's a look at some of the biggest opportunities to keep an eye on.
By Geoffrey Michener •
Opinions expressed by Entrepreneur contributors are their own.
Over the past few years, consumers in Latin America have shifted to buying online due to a rise in internet access and smartphone usage. By 2025, 79 percent of all mobile connections in Latin America are expected to be via smartphones. From 2016-2018, the region was the fastest growing in the world for Uber, Netflix, and Airbnb, according to a white paper by DHL and the Panama Ministry of Commerce. The global health crisis is now accelerating this digital transformation on an unprecedented scale. Over the past few months, more consumers have shifted their shopping and payment behaviors towards online channels, and companies are investing heavily in digital infrastructure to support the demand.
Related: Mark Your Calendars: The Key to Latin American Ecommerce Is Knowing the Right Dates
The consumer foodservice industry is just one example of a sector that is growing alongside new connectivity in the region. The sector reached $200 billion in 2019, with almost $30 billion in the food delivery segment alone. Delivery services, in general, have quadrupled between 2014 and 2019, making Latin America the fastest-growing region after Asia Pacific. According to data firm Sensor Tower, downloads of delivery apps shot up by more than 250,000 in March from February.
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