Youthful Power: Scaling Nearshoring with the Next Generation

Written by: Daniela Pi?eyro

The Information and Communication Technology (ICT) sector in Latin America has experienced increased job opportunities thanks to nearshoring, where business processes are outsourced to neighboring countries. By capitalizing on the advantages of nearshoring, the younger generation in Latin America can not only overcome the challenges of unemployment and poverty but also play a pivotal role in the region's overall growth and prosperity.

"Successful implementation of nearshoring requires a strong national foundation that encompasses all sectors, ensuring complete inclusion in this opportunity for small and medium-sized enterprises, women, southern states, and most importantly, the youth—the key to unlocking innovation and meeting the demand for new talent in the STEAM industries", as mentioned by Altagracia Gómez, director of Grupo Minsa.

The 2024 Economic and Stock Market Outlook report, conducted by Grupo Financiero Monex, projects a 2.1% growth in Mexico's economy by 2024. This growth is expected to stem from inertial expansion, the progress of nearshoring initiatives, and increased public spending. Mexico is positioned as a highly dynamic market in the region, highlighting its production capacities, skilled workforce, and advanced facilities. While the current year may exhibit a slightly subdued GDP dynamism, it presents an opportunity to solidify investments associated with nearshoring.

According to Pedro Haces, general secretary of the Autonomous Confederation of Workers and Employees of Mexico (CATEM), "a dual educational model is essential, to not only provide young people with learning, it would also help to give them a lot of work experience, which would further qualify the young talent that comes out of the country's universities."

The success of nearshoring hinges on the vibrant energy of our youth, who serve as the linchpin for innovation and meeting the increasing demand for fresh talent in the STEAM industries. Their dynamic perspectives and technological prowess not only propel us forward but also position them as the driving force behind the growth of the Information and Communication Technology sector. By empowering and engaging the youth, we not only secure a prosperous future but also harness a wellspring of creativity and skill, essential for navigating the ever-evolving landscape of nearshoring.